Miracom Corporation Announces Corporate Name Change to Parts.Com, Inc.
5 January 2000
Miracom Corporation Announces Corporate Name Change to Parts.Com, Inc.Name Change Reflects Company's Focus on Parts.com Operation SANFORD, Fla., Jan. 5 -- Miracom Corporation (OTC Bulletin Board: MIRM), the creator of Parts.com(TM), a business-to- business e-commerce parts exchange, today announced that its Board of Directors and a majority of shareholders have approved the change of its corporate name from Miracom Corporation to parts.com, Inc. effective immediately. The Company's stock will continue to trade under the current "MIRM" ticker symbol. "With our true business focus on the development and growth of parts.com, we have expanded significantly beyond our roots as a general provider of business-to-business e-commerce solutions in only the past 12 months. We felt it was important to reflect that change in our name. The corporate name change to parts.com, Inc. not only more accurately reflects the company's true focus on emerging as the dominant force in auto parts sales on the Internet but also will support our marketing and branding strategy for parts.com. We want our potential employees, potential clients and potential investors to recognize us as the world's largest online parts store and believe our domain and company name as parts.com, Inc. will enable us to achieve that objective." Recent Developments Since Miracom began marketing the site to parts suppliers and manufacturers only 60 days ago, the Company has entered into 53 Platinum territory agreements and 57 Gold territory agreements with 21 different suppliers for its parts.com exchange. The agreements include some of the world's largest parts suppliers and manufacturers, including the largest private mega-dealer operation and a leading Tier One parts manufacturer. The growing interest in parts.com is a direct reflection of the automotive industry's continued interest and support of its many positive aspects. The e-commerce website provides value-added services for all users, including manufacturers, distributors and parts buyers, as a result of its unique, direct business model which eliminates a number of inefficient links in the supply chain inherent in the auto parts business. parts.com's ordering and fulfillment capabilities are expected to be launched on January 24, 2000 at the National Automobile Dealerships Association convention (NADA). The NADA is the largest automobile dealership association in the world and will be holding its annual convention January 22-25 in Orlando, Fla. 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, Fla., 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.)