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| Autobytel Inc. Extends Global Presence Into Korea With Neoplan License of Autobytel.com Brand |
Autobytel.com Brand Enters Eighth Country
IRVINE, Calif., Oct. 24 /PRNewswire/ -- Autobytel Inc. (Nasdaq: ABTL), the
diversified online automotive marketing and information company, today
announced that it has signed a 10-year agreement for its Autobytel.com brand
with leading Korean automotive portal Neoplan. With this agreement, the
expanding Korean automotive e-commerce sector becomes the eighth national
market into which Autobytel.com has extended its brand.
Autobytel Inc. currently has licensed websites on four continents. While
the Autobytel.com websites in Japan (http://www.autobytel-japan.com), Australia
(http://www.autobytel.com.au), Canada (http://www.autobytel.ca), the Netherlands
(http://www.autobytel.nl), Sweden (http://www.autobytel.se) the UK (http://www.autobytel.co.uk),
and the USA (http://www.autobytel.com), have been operating for some time, Autobytel
Inc.'s agreement with Neoplan, marks the company's first brand license
agreement with an international independent automotive e-commerce portal.
"This license demonstrates that the Autobytel.com brand name remains
attractive to investors and consumers internationally," said Mark Lorimer,
President and CEO of Autobytel Inc. "Our agreement with Neoplan represents an
opportunity to further build our brand globally by extending our presence into
the 4th largest automotive market in the world." With 1.2 million new car
sales and three million used car sales per year, the Korean automotive market
currently ranks only behind the U.S., Japan and the European Union.
Since its inception in 1999, Neoplan has risen to a position of dominance
in the Korean auto e-commerce sector, controlling approximately 65% of the
country's new car referral market. The company has recently made impressive
strides into used cars, financing, insurance and accessories. Major Neoplan
investors include Hyundai Investment Corp. (a division of Hyundai Motors),
Samsung Capital, Daum Communications and SK Corp.
In addition to bolstering its marketing efforts by branding itself as an
Autobytel site, Neoplan can also benefit from the cross-pollination of the
best practices among the Autobytel branded websites. Neoplan and Autobytel
Inc. may also enter into arrangements under which Neoplan will acquire
proprietary Autobytel Inc. services and technologies to supplement its own
operational efficiencies and consumer offerings.
"Autobytel Inc. and Neoplan share a commitment to utilize the Internet to
improve automotive commerce," adds Mr. Deuk Yoo, CEO of Neoplan. "We look
forward to working with the most extensive and trusted automotive e-commerce
network in the world."
About Autobytel Inc.
Autobytel Inc. (Nasdaq: ABTL), the diversified online automotive marketing
and information company, owns and operates Autobytel.com, Autoweb.com,
Carsmart.com, Autosite.com, and AIC (Automotive Information Center).
Autobytel Inc.'s mission is to provide marketing, data, technology and
management services to benefit every manufacturer and dealership. The company
powers manufacturer and portal auto channels with data and tools to help
customers buy cars; provides advertising programs for manufacturers and
dealers to target customers; develops technology to drive one of the most
advanced inventory-based manufacturer's online car selling programs to date;
and generates billions of dollars in car sales for dealers through the
company's popular websites.
Serving approximately 6,300 subscribing dealers and 25 international
automotive manufacturer customers, Autobytel Inc. sites are receiving more
than three million unique visitors a month -- more than any other car-buying
site -- and Autobytel Inc. content and technology has potential exposure to
over 90 percent of total web traffic(1). It is estimated that the vast
majority of the 60 percent of all Americans who go online to research and shop
for a car will encounter Autobytel Inc. content or technology, or an Autobytel
Inc. brand, during the process.
(1) Jupiter Media Metrix August 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 Inc. provides content to Yahoo.com, AOL websites, MSN.com
and Lycos.com. The unduplicated audience of these four sites accounts for
over 90 percent of total traffic.)
About Neoplan
Incorporated on October 26, 1999, Neoplan currently employs
46 professionals and has completed its third round of funding. As the most
visited automotive e-commerce site in Korea, Neoplan currently controls 65% of
the nation's auto referral market, and has expanded to provide customers with
online access to used cars, insurance, accessories and financing. Neoplan
investors include several of Korea's largest corporations and investment
groups. The Korean Daily News recently cited Neoplan as the "Best Website in
Korea" in the automotive sector.
SOURCE Autobytel Inc.
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CONTACT:
media relations, Melanie Webber, Vice
President, Corporate Communications of Autobytel Inc.,
+1-949-862-3023, melaniew@autobytel.com; or Betsy Smith Isroelit,
ext. 17, betsy@rbicom.com, or Joe Foster, ext. 13,
joe@rbicom.com, of RBI Communications, Inc., +1-323-960-1360, for
Autobytel
