Centraxx Unveils Accelerated Network Expansion Plan for Key Markets Including the Denver Area
17 August 1999
Centraxx Unveils Accelerated Network Expansion Plan for Key Markets Including the Denver Area
LAS VEGAS--Aug. 17, 1999--Centraxx, Inc. today announced it is accelerating its national network expansion plans with the participation of joint venture partners in certain key U.S. markets, including Phoenix, Philadelphia, Houston, Oakland and Denver. This is in addition to Centraxx rolling out corporate owned networks in Ontario, Canada, South Florida and Southern California commencing early next year.Investment in a Denver network is expected to be in the $3,750,000 range over a twelve-month period and may add up to 20 new jobs to the local economy. With nearly one and a half million vehicle registrations, Denver ranks 18th in theft rate of all U.S. cities with more than one million registered vehicles. That means, on average, one in every 114 vehicles is being stolen in Denver in a one-year period.
"The Denver region is attractive to Centraxx because it has an extremely well developed wireless infrastructure combined with a high rate of vehicle theft," said Michael St. Eve, Centraxx Vice President Sales, Network Development. "Entering the Denver market with Denver based partners will allow us to introduce our Vehicle Tracking & Recovery System with PLUS roadside and emergency notification service sooner than expected. We anticipate network deployment to commence in the third quarter of 2000."
Joint venture partners based in the Denver region will be responsible for a portion of the network deployment costs and will manage sales and marketing of Centraxx products and services in the Denver region.
"This represents a long-term growth opportunity for Denver partners as it will involve sales of the Centraxx Vehicle Tracking & Recovery System and related monitoring services, as well as future products and services that use the network," said St. Eve. "We are impressed with the commitment of Mayor Wellington Webb and municipal officials to reducing crime in Denver, and are convinced that the introduction of Centraxx products will make Denver safer."
"Making Denver a safer city means Denver will be a more prosperous city, both economically and as it relates to the quality of life in our communities," Mayor Webb said, "Citizens feel safer and the overall Denver community is a better place to live."
Centraxx's UNI-POINT(TM) technology is a land-based radio frequency network that delivers exact tracking, monitoring and locating information. Unlike conventional Global Positioning System technology, UNI-POINT(TM) does not rely on either a constellation of satellites or triangulation. UNI-POINT(TM) requires only a single reference point, and provides dynamic real-time tracking. It is resistant to outside interference and is virtually impossible to detect.
The Centraxx Vehicle Tracking & Recovery System uses a small, hidden tag that creates an "invisible fence" around the vehicle. This tag recognizes a code emitted from a wireless key that's unique to the tag. Movement of the car without the wireless key signals Centraxx into action, alerting authorities. Centraxx's patented UNI-POINT(TM) technology is used to track the vehicle's location, minute by minute, within 25 feet so the police can catch the thief quickly and recover the vehicle.
The Centraxx Vehicle Tracking & Recovery System is more reliable, accurate and affordable than any other vehicle tracking product. The Centraxx system is expected to retail for as low as $129.95, with a monthly monitoring fee of $4.95.
More information regarding Centraxx and its products and services can be found on the World Wide Web at www.centraxx.com. Centraxx shares are quoted and traded through the OTC Bulletin Board under the symbol "CNXX."
For more information contact: Financial Public Relations Contact: Company Contact: ----------------------------------- ---------------- Chuck Courson, Director Michael St. Eve, Vice President Frankopan & Co. Centraxx Inc. Tel. 1-800-355-1564 Tel. 905-826-9988 (Ext. 225) E-mail: ccourson@frankopan.com E-mail: msteve@centraxx.com ---------------------- -------------------
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, acceptance of the Company's products, increased levels of competition, new products and technological changes, the Company's dependence upon third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
The information in this release has been neither approved nor disapproved by any regulatory body.