ZAP Signs Agreement to Acquire Electric Vehicle Company

30 December 1999

ZAP Signs Agreement to Acquire Electric Vehicle Company

    SEBASTOPOL, Calif.--Dec. 29, 1999--ZAPWORLD.COM (OTCBB:ZAPP) announced today that it has reached an agreement to acquire Electric Vehicle Systems, Inc., a Los Altos Hills, California electric vehicle company.
    Under the terms of the agreement, ZAPWORLD.COM (ZAP) will acquire all technology, assets, and shares, from EVSI in exchange for 25,000 shares of ZAP common stock.
    EVSI manufactures a patented PowerSki that is designed to pull an in-line or roller skater. Its electric drive system is designed around a two-wheel chassis with two aluminum poles extending from the rear. Like a water-skier, you hold onto the poles as the PowerSki pulls you along at bicycle speeds.
    According to company spokesperson Alex Campbell, "The PowerSki is a whole new type of transportation device that will be available to our network of electric vehicle dealers."
    This announcement marks the third acquisition ZAP announced this month. On December 7, ZAP announced it had reached an agreement to acquire Global Electric MotorCars of Fargo, North Dakota. GEM is the world's largest manufacturer of Neighborhood Electric Vehicles (NEVs), on December 20, ZAP announced that it had reached an agreement to acquire emPower, an electric scooter company of Cambridge, Massachusetts.
    To purchase any of ZAP's electric vehicles go to http://www.zapworld.com. View the PowerSki at http://www.zapworld.com/powerski.

    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, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.