Navidec Joins Forces with Automotive Lease Guide
16 March 1999
Navidec Joins Forces with Automotive Lease GuideALG Will Market Navidec's CarWizard to Lending Institutions and Affinity Groups DENVER, March 16 -- Denver-based Navidec Inc. today announced a partnership with Automotive Lease Guide (ALG) based in Santa Barbara, California. Under the two-year agreement, ALG, a leader in the auto leasing industry, will market Navidec's CarWizard(TM) Internet auto pricing and information tool to lending institutions and affinity groups for use on their Internet sites. Companies that license the CarWizard tool can customize the software's interface to match their own web site and use the technology to harvest and distribute consumer automobile purchase requests to the company's own dealer network or one provided by Navidec. The software includes industry-grade pricing and option information, driving reviews, leasing residual values and money factors, safety information, advice, automotive news and other resources. CarWizard is used to both supplement a company's web site content and generate revenue -- a rare combination in today's Internet market. The agreement gives Navidec a tremendous advantage in the market as the company continues to establish CarWizard as the system of choice for media organizations, lenders and affinity groups trying to provide objective auto buying and leasing tools for their patrons. Licensing CarWizard to third parties opens Navidec to new revenue-generating opportunities in the increasingly successful online automotive marketplace. "With the efforts and established credibility of ALG behind us, I believe CarWizard will proliferate in the marketplace, and become the standard for Internet auto shoppers looking for accuracy, functionality and ease of use," said Michael Kranitz, Navidec's vice president of strategic automotive solutions. Navidec recently launched CBS.CarWizard.com and has hosted MotorTrend.CarWizard.com since late 1998. Additionally, CarWizard is currently the featured auto research tool on Excite's Autos Channel and similar channels on the Netscape Netcenter, WebCrawler and Prodigy Internet portals. According to ALG's Vice President, John Blair, "We carefully searched for a company who was capable of providing a professional-grade solution for our clients and Navidec's CarWizard tool was a clear choice." First published in 1964, Automotive Lease Guide is the industry benchmark for setting residual values in the United States and Canada. ALG performs several consulting and data services for banks, lending institutions, and manufacturers in the automotive industry. Navidec Inc., based in Englewood, Colorado, is a leading national provider of products and solutions that use web-based technologies to achieve its customers' business objectives. From commercial web site development to the design and implementation of intranet and extranet applications and tools, Navidec helps customers develop successful online solutions. Navidec's premier vertical market focus is on the automotive industry with its USWheels.com online automotive sales solution. Navidec partners with media organizations to produce regional USWheels.com web sites in markets nationwide. The company's web site address is http://www.navidec.com. All statements in this press release, other than historical facts, are forward looking statements. These statements are based on certain assumptions and analyses made by Navidec in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of risks and uncertainties, including general and economic business conditions, demand for automobiles, competition from other automotive online services, market acceptance of the Wheels solutions, the ability of Navidec to reach agreements with local media partners and other risk factors indicated from time to time in Navidec's filings with the Securities and Exchange Commission. Those filings are available online at http://www.freeedgar.com.