Izmocars Acquires Carsite From PowerOne Media

SAN FRANCISCO, Feb. 23, 2007 -- Izmocars and PowerOne Media jointly announced today that izmocars has purchased Carsite from PowerOne Media.

The acquisition was an all cash deal for the assets of the automotive portal business of PowerOne Media, Carsite.com. The amount was not disclosed.

PowerOne Media was a leading provider of online portals to media partners and had recently upgraded their Carsite platform to make it more user-friendly and meet the technology needs of their media partners.

The acquisition is a strategic investment for izmocars. It adds an experienced team, customer base and technology platform on which to build their media business.

The izmocars group has formed a new company to focus on this segment of business called, izmoMedia. The smart portal solution for a wide array of media partners - those involved in newspapers, television, cable, and radio - izmoMedia will bridge the digital divide by combining traditional offerings with the flexibility and interactivity of the New Media. With minimal costs, media partners can now increase revenues and growth while building brand identity. izmoMedia offers custom designed portals along with "out of the box" presence.

By leveraging izmocars' product suite and its relationships with auto dealers, izmoMedia will enable its media partners to be successful in generating revenue and increasing profitability. izmoMedia will utilize izmocars Rainmaker Online Marketing program to increase website traffic and conversion for its media partners.

"We are pleased to announce this acquisition as it will accelerate our expansion into the online media business," said Tej Soni, CEO of izmocars. "Izmocars plans on an exciting revitalization of the carsite business. With our large development and support team, along with fresh capitalization we will increase the level of customer support the company offers. We are excited to add Carsite to our product portfolio. The experienced management team, the rich technology platform, and the solid customer base are all strengths that will allow us to enhance products and services over the next 12 months and strengthen our position as a market leader."

Izmocars is a San Francisco based industry leader providing interactive media solutions, eCommerce websites, dealer sales training and online marketing to the retail automotive industry. izmoRainmaker, izmoConcierge, and the company's newest addition to its product base, The Hybrid Internet Sales System, (THISS), are only three of the premier products utilized by successful auto dealerships to increase leads, sales, conversions and profits.

IzmoCars and IzmoMedia now become the perfect opportunity as auto dealers and all types of media companies enter a new platform of technology.