AWSS Subsidiary Contracts with American
Airlines Credit Union's Auto Services
SCOTTSDALE, Ariz., March 14 Advanced Wireless Systems,
Inc. (OTC Bulletin Board: AWSS) announced that its recently acquired
subsidiary, RAP Group, Inc. (dba Repo Outlet) has entered into a sales and
marketing agreement with American Airlines Credit Union. The agreement
designates Repo Outlet as one of a select group of new and used car dealers to
service American Airlines employees in the greater San Francisco Bay Area.
American Airlines employees currently finance approximately 15,600 automobiles
per year in the greater San Francisco Bay Area. The agreement between
American Airlines Credit Union and Repo Outlet is for a duration of thirteen
months.
Jeffrey Schneider, President of the RAP Group, Inc. said, "The contract
between American Airlines Credit Union and Repo Outlet provides that Credit
Union Auto Services and Cyber Auto Network will promote our new and used
automotive inventory to American Airlines employees both by mail and internet.
As a 'preferred' automotive dealer this will serve to maximize our exposure to
American Airlines employees in the greater San Francisco Bay Area."
Tom Howard, CPA, Advanced Wireless Systems, Inc.'s Chief Financial Officer
noted that while the Rap Group, Inc. was acquired after the first of the year
and its operations will not be reported in the upcoming 10K, its sales for the
first two months of the year are up approximately 8%. "Despite the downtrend
in the national economy, during January and February of 2001, gross sales
amounted to $1,073,900 compared to $994,700 for the same two month period last
year. Of great significance, is the fact that the average sales price during
January and February of 2001 was $10,900, compared to $9,296 during the same
period last year," said Howard. The Rap Group, Inc.'s gross sales for all of
2000 amounted to $7.2 million.
This news release contains forward-looking statements that involve risk
and uncertainties. Actual results, events and performance could vary
materially from those contemplated by these forward-looking statements. Among
the factors that could cause actual results, events and performance to differ
materially are risks and uncertainties discussed in the company's quarterly
report on Form 10-QSB for the quarter ended September 30, 2000 and the Annual
Report on Form 10-KSB for the year ended December 31, 1999.