FairMarket Helps D-Auction Shift Standard for Online Car Sales.Business/Technology Editors WOBURN, Mass.--(BUSINESS WIRE)--April 26, 2001 FairMarket enables D-Auction to bring off-line process on-line FairMarket, Inc. (Nasdaq: FAIM FAIM Fellow of the Australian Institute of Management FAIM Foundation for the Advancement of Innovative Medicine ), a leading provider of e-business selling and marketing solutions incorporating dynamic pricing, today announced that D-Auction, an Australia-based on-line market place for vehicle dealers, has selected FairMarket to power its private online auction site, offering off-lease vehicles to member car dealers. Established by the Motor Trades Association of Australia and the Macquarie Bank Macquarie Bank Limited is an Australian merchant bank and financial services group, providing a broad range of products and services to investors, corporations and government. Its global headquarters is in Sydney, and it is listed on the Australian Stock Exchange (ASX). Group, the Australian-based international investment banking group, the site is available for the exclusive use of Australian motor vehicle dealers at http://www.d-auction.com.au. D-Auction is using FairMarket's dynamic pricing technology to offer an alternative to traditional automobile auctions in an automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. online format that reduces costs for the buyer and the seller. The private, business-to-business site offers secure login Signing in and gaining access to a network server, Web server or other computer system. The process (the noun) is a "login" or "logon," while the act of doing it (the verb) is to "log in" or to "log on. and gives members the ability to view and purchase ex-government off-lease cars. All information necessary to purchase the vehicles is provided by D-Auction online. "FairMarket's technology and services has enabled us to automate To turn a set of manual steps into an operation that goes by itself. See automation. and facilitate the buying and selling of off-lease vehicles, and bring it to the market very quickly. While it is early days, we have been very encouraged with the results since the site launched," said John Wilson John Wilson may refer to: Politicians
The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight proceeds." For a project of this scope, D-Auction needed a system that would readily integrate with its existing infrastructure and would provide a high degree of scalability. FairMarket created a custom search page, photo pages where dealers can visually assess the vehicles' condition and all other pages containing the required information to purchase vehicles online. With over 1400 car dealers in Australia, the auction has the potential to grow to serve very large numbers and FairMarket's solution can scale to the specific project's needs. "We are excited to be working with a business-to-business organization that's as innovative as D-Auction. This relationship underscores FairMarket's ongoing commitment to enabling business-to-business sites, like D-Auction, to achieve substantial cost savings for its clients which could run to millions of dollars over several years," said Eileen Rudden, president and chief executive officer of FairMarket. About FairMarket, Inc. FairMarket develops and delivers e-business selling and marketing solutions for retailers, distributors and manufacturers. A recognized leader in dynamic pricing technology, FairMarket provides hosted and scalable solutions to help enable companies maximize price yield and promote their brands. Major corporations including JCPenney, Dell Computer Corporation (company) Dell Computer Corporation - One of the biggest US manufacturers of IBM PC compatibles. "From notebooks to networks", their slogan says. http://us.dell.com. , CompUSA, New Line Cinema, Virgin.Net and 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). rely on FairMarket's discount, clearance and promotional technologies and services. Headquartered in Woburn, Mass., FairMarket has offices in the U.K., Australia and Germany. The company can be reached at 800-531-7871 or on the Web at www.fairmarket.com. FairMarket and the FairMarket logo are service marks of FairMarket, Inc. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release contains information about future expectations, plans and prospects of FairMarket, Inc. that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including but not limited to market acceptance of FairMarket's online auction and other e-commerce services; growth of the market for dynamic e-commerce services; the competitive nature of the online markets in which FairMarket operates; FairMarket's ability to generate significant revenue to reach profitability; FairMarket's ability to attract and retain qualified personnel; FairMarket's ability to retain existing customers and to obtain new customers; the operation and capacity of FairMarket's network system infrastructure; FairMarket's ability to expand into new geographic markets and the currency, regulatory and other risks associated with expansion into international markets; FairMarket's limited operating history; and the other risks and uncertainties discussed under the heading "Factors that May Affect Results of Operations and Financial Condition" in FairMarket's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 and other reports filed by FairMarket from time to time with the Securities and Exchange Commission. FairMarket assumes no obligation to update any of the information included in this press release. |
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