Parts.com Announces 26 New Platinum Distribution Agreements
22 December 1999
Parts.com Announces 26 New Platinum Distribution Agreements
Company Expects at Least 20 Additional Platinum Distributor Agreements Before
January 2000 Launch of Parts.com
SANFORD, Fla., Dec. 22 -- Miracom Corporation
(OTC Bulletin Board: MIRM), a developer and owner of business-to-business
e-commerce services and the holding company for Parts.com(TM), a
business-to-business e-commerce parts exchange, today announced that it has
signed 26 new Platinum Territory Agreements with ten new suppliers in key
markets across the nation. The agreements cover a range of vehicle lines,
including Audi, Bentley, BMW, Buick, Chevrolet, Ford, GMC, Honda, Lotus,
Lexus, Lincoln/Mercury, Nissan, Oldsmobile, BMW, Porsche, Rolls Royce, Saab
and Volkswagen.
Under the terms of the agreements, Miracom will receive annual fees
ranging from $25,000 to $90,000 from each supplier in addition to a
transaction fee for parts sold via the Parts.com exchange. The Company
estimates that its revenue generated from transactions on the Parts.com
exchange will exceed the total revenue collected from annual fees in the first
year following the launch of Parts.com, which is currently scheduled for
January 24, 2000. These Platinum suppliers collectively are expected to
record over $75 million in auto parts sales in 1999 of which a small but
rapidly growing proportion are expected to be transacted on the Parts.com
exchange in 2000 and beyond.
"The addition of 26 new Platinum Distribution Agreements reflects the auto
parts industry's continued positive reception of Parts.com and the potential
impact it will have on the industry," said Shawn Lucas, Chairman and Co-CEO of
Miracom Corporation. "With dozens of additional agreements for all three
levels of our business model in the pipeline and increasing interest from all
parties in the supply chain, including some of the largest dealerships,
suppliers and distributors in the industry, we believe we are on-track for the
launch and rapid growth of Parts.com in the coming year."
Parts.com's patent pending business model calls for 170 Platinum
Suppliers, 7,000 Gold Suppliers and up to an additional 14,000 Silver
Suppliers to build the infrastructure needed for "just-in-time" auto parts.
This platform is expected to enable the Parts.com parts exchange to deliver
parts within hours of order placement.
The ten new Platinum suppliers include:
Dealer Location Number of Vehicle Line(s)
Dealerships
Burien Nissan Seattle, WA 2 Nissan
Classic Chevrolet Grand Rapids, MI 4 Chevrolet
Huber Chevrolet Omaha, NE 6 Buick, Cadillac,
Chevrolet, GMC,
Oldsmobile,
Pontiac
McDermott Chevrolet East Haven, CT 2 Chevrolet, Lexus
McGeorge Toyota Richmond, VA 1 Toyota
Jennings Chevrolet Glenview, IL 2 Chevrolet,
Volkswagen
Koons Ford Falls Church, VA 6 Ford
Libertyville Toyota Chicago, IL 1 Toyota
MidWestern Auto Group Columbus, OH 1 Audi, Bentley,
BMW, Lotus,
Porsche,
Rolls Royce, Saab
and VW
Russell and Smith Ford Houston, TX 3 Ford, Honda,
Lincoln/Mercury
The Company expects to launch Parts.com's ordering and fulfillment
capabilities on January 24, 1999, at the National Automobile Dealerships
Association (NADA), the largest automobile dealership association in the
world, in Orlando, Florida. The site will offer nearly 2 million searchable
automotive parts and accessories. The Company's plans call for an expanded
catalog of almost 5 million searchable parts by the end of 2000.
About Miracom Corporation
Miracom Corporation is a developer and owner of business-to-business
e-commerce services and the holding company for Parts.com(TM) and
ReallyKnow.com(TM). Based in Sanford, Florida, Miracom Corporation owns and
operates the Parts.com(TM) ( http://www.Parts.com ), an e-commerce
business-to-business parts exchange, and ReallyKnow.com(TM)
( http://www.ReallyKnow.com ), a Web-enabled real-time data gathering system which is
revolutionizing the research field.
(This news release includes statements that may constitute forward-looking
statements pursuant to the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Although Miracom Corporation believes the
expectations reflected in such forward-looking statements are based on
reasonable assumptions; it can give no assurance that its expectations will be
met. Factors that could cause actual results to differ materially from
Miracom's expectations include the operational performance of Parts.com, the
Company's success in entering into strategic alliances, Parts.com's and
ReallyKnow.com's operational and financial performance, industry conditions,
demand for its products as well as other risks.)