Autobytel Appoints PricewaterhouseCoopers LLP as Independent Accountants.Business Editors & Automotive/E-Commerce/Retail Writers IRVINE, Calif.--(BUSINESS WIRE)--May 22, 2002 Autobytel Inc. (Nasdaq:ABTL ABTL Association Belge des Technologues de Laboratoire ) today announced that it has appointed PricewaterhouseCoopers LLP LLP - Lower Layer Protocol as the Company's independent accountants for the year ended December 31, 2002. PricewaterhouseCoopers LLP replaces Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing LLP. The decision to replace Andersen comes after a thorough selection process conducted by the Company's Audit Committee and management. "Our decision to select PricewaterhouseCoopers to perform auditing and tax services for our Company was influenced by the depth of their experience and the quality of their professionals," said Jeffrey Schwartz, Autobytel's president and chief executive officer. "We would like to thank Andersen for its years of service on behalf of Autobytel. We have the utmost respect for those individuals we have worked with at Andersen." About Autobytel Inc. Autobytel Inc. (Nasdaq:ABTL), a leading Internet automotive marketing services company, helps retailers sell cars and manufacturers build brands through marketing and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. (customer relationship management) programs. Autobytel Inc. owns and operates the popular Web sites Autobytel.com, Autoweb.com, Carsmart.com and Autosite.com, as well as AIC AIC Association des Infermières Canadiennes. (Automotive Information Center), a leading provider of automotive marketing data and technology. Autobytel Inc. generated an estimated four percent of all domestic new vehicle sales -- $17 billion in car sales in 2001 -- for dealers through its Web sites. With approximately 8,900 dealer relationships and 30 international automotive manufacturer customers, Autobytel Inc. is the largest syndicated car-buying content network, reaching millions of unique visitors as they are making their vehicle buying decisions. Autobytel Inc. content and technology has potential exposure to over 90 percent of total Web traffic.(1) (1) Jupiter Media Metrix October 2001 Digital Media Audience Report (Autobytel Inc. sites is the unduplicated audience of the Autobytel and Autoweb properties and Carsmart.com. The car-buying and ownership category as defined by Autobytel. Autobytel Inc. provides content to Yahoo! Inc., AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Web sites, MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). .com and Lycos.com. The unduplicated audience of these four sites accounts for over 90 percent of total traffic.) |
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