FairMarket Powers Auctions for UK's No.2 Retailing Website; Comet to Offer Shoppers a Variety of Merchandise Through New and Exciting Selling Methods.Business/Technology Editors WOBURN, Mass.--(BUSINESS WIRE)--July 27, 2001 FairMarket(sm), 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 Comet, a top United Kingdom retailer, has selected FairMarket's innovative online selling method to offer its customers an exciting shopping experience and lower prices. Comet, part of the Kingfisher kingfisher, common name for members of the family Alcedinidae, essentially tropical and subtropical land birds, with affinities to trogons and swifts and related to the hornbill. retail group, located online at www.comet.co.uk, operates the UK's second most trafficked retail website after the retail leader Argos.(a) The new auction site is at www.clearance-comet.co.uk. The launch of the auction site enables Comet to provide its customers with a new way of purchasing appliances and electronic goods. Comet will be initially using the FairMarket system to supplement their existing clearance center in Chingford, North London North London is a part of London, England which has several possible definitions. River & geography The part of London north of the River Thames (illustrated). , which helps dispose of Comet's distressed stock. The FairMarket auction solution will list clearance products including large household appliances (refrigerators, laundry) and consumer electronics (TVs, VCRs, DVD players A stand-alone device that plays DVDs. It contains a DVD drive and the electronics to decode the digital video. The device may play only manufactured DVDs, or it may be able to play DVD-R, DVD-RW and DVD+RW discs. DVD players are cabled to a TV or home theater system for display. ). "The auction will add both excitement and value to the Comet shopping experience," said N. Louis Shipley, president, FairMarket International. "FairMarket is helping Comet to maximize yield on appliances and electronic goods while providing a more engaging consumer shopping experience." "We're excited to be the first major UK retailer to launch an online auction site," said Simon Rigby, VP e-Comet. "Now we can offer even more customers the chance to buy clearance products at even lower prices." (a) Reference to this figure can be found at: http://uk.netvalue.com/presse/index_frame.htm?fichier=cp0041.htm 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 scaleable solutions to help enable companies to maximize price yield and promote their brands. Major corporations including SAM'S CLUB Sam's Club is a membership-only warehouse club owned and operated by Wal-Mart Stores, Inc. History The first Sam's Club opened in April 1983 in Midwest City, Oklahoma in the United States.[1] Sam's Club is named after Sam Walton. , 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. 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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