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Several big things in the works here. Here are the last 3 PRs. ********************************************************************* Uniprime Capital Acceptance, Inc. Announces Buy Back Program For Outstanding Stock LAS VEGAS (March 16) AUTOMOTIVEWIRE -March 16, 1999--Uniprime Capital Acceptance, Inc. (OTC BB: UPCA) announced that its Board of Directors has authorized the buy back of up to 1,000,000 shares of its common stock. Several dealership acquisitions are nearing completion and funding is in place to assure that they will close without any further delays. Uniprime anticipates further acquisitions throughout 1999. In addition, with numerous opportunities for single and multi-location acquisitions Uniprime views its stock as a valuable asset and an essential ingredient toward accomplishing its overall acquisition goals. Uniprime has been highly selective in singling out potential acquisitions in keeping with its philosophy of seeking to acquire underachieving operations which can be dramatically improved within a 90 - 180 day period. As a result, while many opportunities were presented to the company, most did not meet the necessary criteria. Uniprime Capital Acceptance, Inc. is embarking upon an aggressive dealership acquisition program and looking to acquire a minimum of fifty (50) retail automotive dealerships between now and the end of the year 2001, which it believes will place it among the top ten mega-dealership groups in the country in overall unit sales. The Company intends that such statements regarding the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "safe harbors" provision of the Private Securities Litigation Reform Act of 1995. -0- et/ny* CONTACT: Uniprime Capital Acceptance, Inc., Las Vegas Paul Maasen, 888/892-2002 ******************************************************************** Uniprime Capital Acceptance, Inc. Announces Major Expansion LAS VEGAS (March 15) AUTOMOTIVEWIRE -March 15, 1999--Uniprime Capital Acceptance, Inc. (OTC BB: UPCA) announced that the company has scheduled the closings on two auto dealership acquisitions. Uniprime anticipates a $45 million annual revenue stream subsequent to the closing of these two acquisitions, and net profits in the 7% range. On or before March 22nd, Uniprime anticipates closing the purchase of the Greenville Auto Mall, in Greenville, Mississippi. Uniprime anticipates that once this dealership is acquired, and their "OK DEAL" formula is implemented, the Greenville Auto Mall will generate over $25 million in annual revenues. A Letter of Intent for the second dealership acquisition has a scheduled closing date of April 15th. Located in Fort Pierce, Florida, this dealership carries the Mitsubishi auto line. Once the "OK DEAL" is implemented, Uniprime feels that this dealership could easily achieve revenues of $20 million annually, and 6% net profits. It is anticipated that about 60% of revenues will be generated by used car sales. Uniprime's proven "OK Deal" selling system has been implemented in over three hundred dealerships internationally over the past 30 years. Until recently, the "OK Deal" method has been implemented for client dealerships on a consulting basis by the current management of Uniprime. Uniprime now intends to apply this method to dealerships it will acquire for its own benefit, and the benefit of its shareholders. Currently, Uniprime Capital has numerous other Auto Dealership acquisition candidates in various stages of negotiation. Uniprime Capital Acceptance, Inc. is embarking upon an aggressive dealership acquisition program and is looking to acquire a minimum of fifty (50) retail automotive dealerships between now and the end of the year 2001, which it believes will place it among the top ten mega-dealership groups in the country in overall unit sales. The Company intends that such statements regarding the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "safe harbors" provision of the Private Securities Litigation Reform Act of 1995 -0- bh/ny* CONTACT: Uniprime Capital Acceptance, Las Vegas Paul Maassen, 888/892-2002 ******************************************************************** Uniprime Capital Acceptance, Inc. Announces Major Leasing Agreement Automotive Editors & Writers LAS VEGAS--(AutomotiveWire)--Feb. 1, 1999--Uniprime Capital Acceptance, Inc. (OTC BB:UPCA) (Uniprime) announced that it has concluded a major agreement with a West Coast based nation-wide leasing organization to provide lease financing to retail automotive dealerships throughout the United States. The agreement will enable Uniprime to be instrumental in providing the financing for leasing of new and used vehicles for customers with any type of credit profile, from excellent to poor. Uniprime has been a leader in the development and implementation of non-prime financing and is expected to use its consulting and training expertise to assist dealers in setting up non-prime financing departments, which significantly less than 50% of dealerships nationwide now have. Non-prime financing is one of the fastest growing and most profitable sectors of automotive customer financing and the demand for non-prime funds is overwhelming, as over 60% of customers do not qualify for standard financing and the number is projected to escalate dramatically by the turn of the millennium. Uniprime has already conducted its test marketing to determine the receptiveness of the program and the feedback has been overwhelmingly positive, with many dealers already committing to the service. This relationship is expected to provide Uniprime with a large stream of cash flow on an on-going basis which will continue to increase as more and more dealers are added to the program. For more information regarding the above, please contact the company directly at (888) 892-2002 or e-mail upca@earthlink.net. Uniprime is currently trading NASDAQ - OTC Bulletin Board. Symbol: UPCA The Company intents that such statements regarding the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "safe harbors" provision of the Private Securities Litigation Reform Act of 1995. --30--rg/ny* CONTACT: Uniprime Capital Acceptance, Las Vegas 888/892-2002 email:upca@earthlink.net | ||||||||||||||
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