e-LaSer Joins Forces with Autobytel.Europe
3 February 2000
e-LaSer Joins Forces with Autobytel.EuropeSubsidiary of LaSer (Galeries Lafayette Group) Will Invest in Autobytel.com's European Venture AMSTERDAM, Feb. 3 -- Autobytel.com , the leading international automotive e-commerce provider, today announced that e-LaSer, a leader in customer services and e-commerce in Europe, will invest a minimum of US$3 million in Autobytel.Europe. e-LaSer is a subsidiary of LASER-Lafayette Services, the first European group specialized in services and technologies dedicated to the retail and consumer markets. Autobytel.Europe and e-LaSer intend to cooperate in innovative customer relationship management, loyalty programs services and e-commerce cross-fertilization. e-LaSer is pioneering e-commerce customer relationship management and loyalty program services throughout Europe. "As Autobytel.com grows in Europe, e-LaSer will be one of our most significant market partners," said Mark Lorimer, President and CEO of Autobytel.com. "We are very excited to be embarking upon this relationship with a firm that provides such innovative customer services to the European marketplace." "We are delighted to work with Autobytel, one of the most pioneering and innovative internet services, whose resounding success is characteristic of the far-reaching changes shaping the new economy," said Philippe Lemoine, Chairman and CEO of LASER and Co-President of Galeries Lafayette Group. Autobytel.Europe is a majority owned subsidiary of Autobytel.com which offers support services to Autobytel sites in individual countries in Continental Europe. Including the latest round from e-LaSer, total funding to date for Autobytel.Europe from such partners as Inchcape plc, Pon Holdings B.V., and GE Equity has reached $36.7 million. About autobytel.com inc. Internationally-branded Autobytel.com (http://www.autobytel.com) is the acknowledged leader in online automotive commerce(1). The most comprehensive automotive Internet site, Autobytel.com offers consumers a positive purchasing and ownership experience, while providing its Accredited Dealer Network with the most efficient way to reach online car buyers. As it assists consumers through every aspect of the automotive lifecycle, Autobytel.com provides continuity into the next vehicle purchase. Launched in March 1995, Autobytel.com's low-cost, no-haggle car-buying program is available in the U.S., Canada (http://www.autobytel.ca), the United Kingdom (http://www.autobytel.co.uk), Japan (http://www.autobytel-japan.com) and Sweden (http://www.autobytel.se). In 1999, Autobytel.com was ranked #1 in Dealer Satisfaction with Online Buying Services for the second year in a row(2). About LASER and e-LaSer e-LaSer (http://www.e-laser.com) is a branch created by LASER (http://www.laser.fr), a subsidiary of the Galeries Lafayette distribution Group, a 35,000 employee strong distribution and department store group with a turnover of 6 billion Euros. LASER, the European leader specialized in providing services and technologies for retail and consumer markets, has 3,800 employees and a turnover of 833 million Euros in 1999 over three companies: Cofinoga (http://www.cofinoga.com), LaSer Informatique and e-LaSer. e-LaSer is devoted to innovative customer relationship management (CRM) and e-commerce. e-LaSer combines its global skills and expertise in European Customer Centers, loyalty program applications and e-commerce cross-fertilization, web site development and consultancy services. e-LaSer is also mastering Telemarket (http://www.telemarket.fr), the on-line grocery trade leader in Europe. The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed in, or implied by, such forward-looking statements. Autobytel.com undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause Autobytel.com's actual results to differ materially from those expressed in, or implied by, the forward-looking statements are changes in general economic conditions, increased or unexpected competition, the failure to close the acquisition of A.I.N. Corporation, changes in A.I.N. Corporation's financial performance, and other matters disclosed in Autobytel.com's filings with the Securities and Exchange Commission. (1) As reported by J.D. Power and Associates, Autobytel.com accounts for 45% of all new vehicles sold through an online service. (8.23.99). (2) J.D. Power and Associates 1998-1999 Dealer Satisfaction With Online Buying Services Studies(SM). 1999 study conducted among dealership Internet specialists who completed 1,024 individual evaluations.