Clarification Regarding Release Issued by Crown Group, Inc. February 9th.Business Editors DALLAS--(BUSINESS WIRE)--Feb. 10, 2000 As previously reported in an earlier press release on Wednesday, February 9, 2000 by the Crown Group, Inc., (Nasdaq:CNGR CNGR Commission on the National Guard and Reserves ), Crown has entered into a Letter of Intent to acquire 80% of the outstanding stock in West One Automotive Group, Inc. West One, of which Ted Anderson is Chief Executive Officer, is not affiliated with The Hertz Corporation (NYSE NYSE See: New York Stock Exchange :HRZ HRZ Hrvatsko Ratno Zrakoplovstvo (Croatian Air Force) HRZ Herd Reduction Zone (deer hunting) HRZ Huriez Syndrome ), however, Ted Anderson separately and independently owns and operates 11 Hertz Rent-A-Car franchises and 3 Hertz used car sales locations under a Hertz franchise in Washington and Oregon. Crown Group, Inc. sells and finances used automobiles through its 99% ownership of America's Car-Mart, Inc. and its 70% ownership of Smart Choice Automotive Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SMCH SMCH Standard Mixed Cargo Harness ). The Company also seeks to enhance shareholder value through the acquisition, development and operation of small-cap companies with significant growth potential. In addition to its used car sales and finance operations, Crown Group currently owns (i) 100% of Precision IBC IBC International Building Code IBC Iraq Body Count IBC Institutional Biosafety Committee IBC Inflammatory Breast Cancer IBC International Business Company IBC Independence Blue Cross IBC Insurance Bureau of Canada IBC International Broadcasting Convention , Inc., a firm specializing in the sale and rental of intermediate bulk containers; (ii) 80% of Concorde Acceptance Corporation, a sub-prime mortgage lender; (iii) 50.1% of CG Incorporated S.A. de C.V., which operates two casinos in El Salvador; and (iv) 45% of Atlantic Castings, Inc., an investment castings manufacturer of turbine engine components. Crown Group is headquartered in Dallas and its common stock is traded on the Nasdaq National Market under the symbol &uot;CNGR.&uot; Please visit our Web site at www.thecrowngroup.com |
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