Hahn Automotive Warehouse, Inc. Announces Change in Nasdaq Listing
29 July 1999
Hahn Automotive Warehouse, Inc. Announces Change in Nasdaq Listing
ROCHESTER, N.Y., July 28 -- Hahn Automotive Warehouse, Inc.
, announced today that the listing of its common stock will move
to the Nasdaq Small Cap Market effective Thursday, July 29, 1999. Previously,
the Company was traded on the Nasdaq National Market.
"We are pleased with the decision," stated Eli N. Futerman, Hahn's
President and Chief Executive Officer. "At our hearing in June before
Nasdaq's Listing Qualifications Panel, we proposed the transfer to the Nasdaq
Small Cap Market. We believe that continued trading on the Nasdaq Stock
Market will provide greater liquidity for our shareholders and will enhance
shareholder value."
Hahn, headquartered in Rochester, New York, is a distributor of automotive
aftermarket products through its 14 strategically located distribution centers
to 80 Company-owned Advantage Auto Stores, more than 1,000 independent
jobbers, and nine Professional Auto Warehouse direct distribution centers, in
the Midwest and along the Eastern Seaboard, and via the Internet with its new
HYPERLINK http://www.iAutoparts.com site launched July 6, 1999.
Mr. Futerman further stated, "We launched the innovative
iAutoparts.com(SM) to provide an automotive parts shopping alternative for
consumers wanting the speed and convenience in an online eStore. The
iAutoparts.com site has registered more than a half million hits and more than
1,000 users have registered on the site."
The site is the automotive industry's most comprehensive, offering more
than two million nationally branded hard parts and maintenance items in
inventory. This represents more than $45 million in automotive parts on-hand
and available for immediate delivery worldwide. The iAutoparts.com site is
the first to be powered by the industry-leading CCI/Triad(TM) electronic
catalog.
iAutoparts, Inc. is a subsidiary of Hahn Automotive Warehouse, Inc. and
iAutoparts.com is a service mark owned by Hahn Automotive Warehouse, Inc.
Safe Harbor Statements Under the Private Securities Litigation Reform Act
of 1995:
The statements contained in this press release which are not historical
facts are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements as to industry
trends, future economic performance, anticipated profitability, anticipated
revenues and expenses, and products or service line growth. Investors are
cautioned that forward-looking statements are inherently uncertain. Actual
results may differ materially from the future results, performance or
achievements expressed or implied by such forward-looking statements. Factors
that might cause such a difference include those risks and uncertainties
identified in Hahn Automotive Warehouse, Inc.'s (the Company) Annual Report on
Form 10-K, dated December 22, 1998, which has been filed with the United
States Securities and Exchange Commission. Other risks and uncertainties
which may affect actual results, include but are not limited to, failure of
the auto parts e-commerce industry to develop at anticipated rates, failure of
the Company's e-commerce products and services to gain significant market
acceptance, competition, the ability of the Company to protect its proprietary
rights and the continued development and viability of the Internet. The
Company assumes no duty to update information contained in this press release
at any time.