`Wheels' Web Site Launches In Northwest Region
21 May 1998
`Wheels' Web Site Launches In Northwest Region; Bank One, Navidec And KOIN-TV Address Internet Automotive Purchasing NeedsDENVER, May 21 -- Banc One Credit Company, a unit of Finance One Corporation, the finance company subsidiary of BANC ONE CORPORATION , and Navidec Inc. (Nasdaq: NVDC; NVDCW), a leading provider of Web-based products and solutions, and Portland's KOIN-TV today announced the activation of the "Northwest Wheels" online automotive shopping service. The site, http://www.northwestwheels.com, includes thousands of new and pre-owned inventory from multiple Portland-area dealers. Today, site visitors can search inventory from 23 dealer franchises by any combination of vehicle type, year, mileage and total price range. More than 15 manufacturers are represented on the site, which is expected to attract the majority of area dealers over the next few months. Bank One and Navidec recently announced a partnership to launch Wheels in five or more major U.S. markets. Banc One Credit Company is the fifth-largest indirect lender and the second largest bank-owned provider of automotive financing in the country, and has been in the business of financing new and used cars for more than 40 years. Wheels offers capabilities never before available and is ideally suited for auto dealers, consumers, media and financial institutions. In addition to Northwest Wheels and Colorado Wheels (http://www.coloradowheels.com), Utah Wheels and Metroplex Wheels will be launched this summer. Navidec Inc., based in Englewood, Colo., is a leading national provider of products and solutions that use Web-based technologies to achieve its customers' business objectives. From commercial Web site development to the design and implementation of intranet and extranet applications and tools, Navidec helps customers develop successful online solutions. Navidec's premier vertical market focus is on the automotive industry with its Wheels online automotive sales solution. Navidec partners with media organizations to produce Wheels in markets nationwide. The Company's Web site address is http://www.navidec.com. All statements in this press release, other than historical facts, are forward looking statements. These statements are based on certain assumptions and analyses made by Navidec in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstance. Such statements are subject to a number of risks and uncertainties, including general and economic business conditions, demand for automobiles, competition from other automotive online services, market acceptance of the Wheels solutions, the ability of Navidec to reach agreements with local media partners and other risk factors indicated from time to time in Navidec's filings with the Securities and Exchange Commission. Those filings are available online at http://www.freeedgar.com.