Uniprime Capital Acceptance Announces Acquisition
29 September 1998
Uniprime Capital Acceptance Announces Acquisition of Upstate New York Auto Dealer
LAS VEGAS--Sept. 28, 1998--Acquisition First in Planned Series
Uniprime Capital Acceptance, Inc. (OTC BB: UPCA) (Uniprime) announced today that it has acquired a General Motors Dealership in upstate New York for an undisclosed amount.
In announcing the agreement, Gary I. Tabb, President and Chief Executive Officer of Uniprime, said, "I anticipate that this acquisition alone will add as much as $3.0 million to our asset base within one year. Uniprime should net in excess of $1.0 million per year as well."
The Company will officially take over the dealership on October 1. It plans to immediately implement its proven sales, marketing, advertising and F & I programs. The founder of the dealership will remain as President.
Uniprime Capital Acceptance Inc. has focused its efforts on becoming a mega-auto dealership enterprise, with plans to implement its tried and proven sales system in a chain of vehicle dealerships throughout the nation.
Certain information contained in this release includes "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and is subject to certain risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.
This release is available on the KCSA Worldwide website at www.kcsa.com.