ZAP Secures $45 Million Floor Plan Line of Credit for Auto Dealers

SANTA ROSA, Calif., July 13 -- Advanced technology vehicle company ZAP (BULLETIN BOARD: ZAPZ) says it has secured a $45 million line of credit for qualified ZAP dealers to finance their inventory, or floor plan.

ZAP announced today that it has signed an agreement with Clean Air Motors, LLC (CAMCO), a wholly owned subsidiary of Eckhaus Fleet, to establish a Floor Plan for qualified ZAP dealers and to work together in expanding ZAP's auto dealer network.

ZAP has launched a distribution network for advanced technology vehicles, which include fuel-efficient automobiles that run on gasoline, electricity and other advanced energy technologies.

In May, ZAP signed an agreement with SMART-Automobile LLC to be the exclusive distributor and licensed manufacturer in the United States for their SMARTCAR. Smart-Automobiles LLC is an independent, privately-held company that oversees the direct importation and modification of SMARTCARS to meet U.S. standards.

ZAP's new floor plan can finance vehicle purchases for ZAP auto dealers. This can benefit a dealership's operations and increase profit margins while expediting inventory purchases and management. ZAP CEO Steve Schneider says ZAP's credit line can put ZAP auto dealers on track to reach their fullest potential.

"This is the next milestone for ZAP's auto dealer network," says Schneider. "Auto dealers have enough demands on their finances without the millions of dollars it takes to purchase an inventory of cars. This new program allows qualified ZAP dealers to expedite and manage their vehicle inventories while improving their cash flow. We welcome Clean Air Motors to the ZAP team as we set out to build an automotive group focused on advanced forms of transportation that are socially responsible and good for the environment."

CAMCO has agreed to help ZAP enlist auto dealers to sell its line of advanced technology vehicles. Parent company Eckhaus Fleet has been in the automotive business since 1969, supplying financial services and marketing for thousands of cars annually to rental companies and other fleet buyers.

Auto dealers interested in ZAP's distribution network for advanced technology vehicles can call ZAP at 707-525-8658 for further information.

About ZAP

ZAP has been a leader in cleaner transportation technologies since 1994, delivering more than 85,000 vehicles to customers in more than 60 countries. A public company, ZAP is traded on the Over-the-Counter stock exchange under the symbol ZAPZ. The company offers a variety of advanced technology vehicles, including cars, bicycles, scooters, motorbikes, underwater scooters and more. For more information, visit http://www.zapworld.com/ or call +1-707-525-8658.