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FactoryDollars.com Launches Consumer Auction for Auto Manufacturer Rebates

16 November 2000

FactoryDollars.com Launches Consumer Auction for Auto Manufacturer Rebates

    PHILADELPHIA--Nov. 16, 2000--FactoryDollars.com launches consumer auction for auto manufacturer rebates.
    Provides manufacturers the marketing technology for instant online yield management to target rebate and incentive expenditures and attract customers without interfering with dealer transactions.
    FactoryDollars.com today announced the launch of its site (http://www.factorydollars.com), a first of its kind consumer auction for automobile and other manufacturer cash rebates. The online auction allows consumers to bid for cash rebates from manufacturers on automobiles, boats, equipment and other products sold through dealer and other retail distribution channels.
    Manufacturers can select bids by amount and geographic location, targeting rebate and incentive expenditures.
    Consumers bid on a cash rebate for a selected vehicle. The bid process results in a net rebate amount for the consumer. Based on the net amount, manufacturers select winning bids and issue a rebate certificate.
    Winning a bid requires the consumer to purchase the selected vehicle within thirty days or forfeit a nominal bid deposit. Once a rebate certificate is issued the consumer may negotiate and purchase the vehicle from any dealer. Upon a successful purchase negotiation the consumer presents the rebate as a "credit" toward the final price.
    FactoryDollars.com's unique bid process provides distinct benefits to the consumer, dealer and manufacturer;
    -- Consumer demand is enhanced when they receive the full
    rebate/incentive value.
    -- Dealers are provided a level playing field. A dealer's ability
    to manage customer relationships, inventory and their retail
    marketplace in general are not disrupted.
    -- Manufacturers can maximize the efficiency of their incentive
    dollars on market demand. The FactoryDollars.com process will
    enable manufacturers to rapidly address market conditions and
    target incentive expenditures.
    FactoryDollars.com will expand its auction process into many industries that maintain dealer or extended distribution channels. The company believes its process will increase the speed and efficiency of manufacturers to address market conditions and assist the distribution network.
    Manufacturers can elect to interface with the FactoryDollars.com system manually (delayed response) or in real time (automatic response).

    About LexbancAG Inc

    FactoryDollar.com (http://www.FactoryDollar.com) is a wholly owned subsidiary of LexbancAG Inc. LexbancAG Inc is a holding company, based in Philadelphia, with interests focused on postproduction automotive distribution channels