SOURCE: Friendly Auto Dealers, Inc.

November 24, 2009 08:30 ET

Friendly Auto Dealers, Inc. Names Gerry Berg Managing Consultant for Mergers and Acquisitions

LAS VEGAS, NV--(Marketwire - November 24, 2009) - Friendly Auto Dealers (OTCBB: FYAD) announced today that it has retained Mr. Gerry Berg as Managing Consultant for Mergers and Acquisitions. The announcement occurs as the Company is engaged in ongoing due diligence investigations with Excellent Auto Dealers, Inc. in an effort to complete a material definitive agreement that would finalize the Company's phased acquisition of Excellent Auto's Chinese retail automobile dealerships and other related worldwide opportunities. The Company announced the memorandum of understanding outlining the possible merger and acquisition on September 4, 2009. Subsequently, both parties began due diligence efforts, including initial auditing reviews and initial site inspections.

Mr. Berg will work in conjunction with Mr. Stephen Chu, who the Company appointed as Special Advisor and Consultant for mergers and acquisitions on September 18, 2009. Mr. Chu was named to specifically represent the Company in its ongoing due diligence efforts regarding Excellent Auto Dealers, Inc. Mr. Chu met with representatives of Excellent Auto both in China and in the United States, and is working on a continual basis on the project.

Mr. Berg will report to Tony Lam, Chairman and Chief Executive Officer. Mr. Berg has over 30 years of senior management experience working with private and public companies. His overall emphasis has been on Finance and Operations. Mr. Berg served a number of public companies as their President, Chief Financial Officer or as a financial consultant. In those capacities, he was responsible for manufacturing, inventory control, product procurement, and quality control departments. He also managed shareholder relations, financial reviews, budgeting, contract analysis, and banking relationships, including investment banking. He also served on the Board of Directors for a number of public companies.

As Managing Consultant for Mergers and Acquisitions, Mr. Berg will assist the President/CEO for developing and implementing the Company's business plan and financial strategies with an emphasis on operations management. He will also provide assistance in meeting all compliance requirements for public companies related to the Securities and Exchange Commission and coordinate the Company's independent Certified Public Accountants for the year-end audit and quarterly review of financial statements.

Mr. Berg began his career as a Certified Public Accountant with the firm of Deloitte & Touche. He served as Audit Manager for the Buick Motor Division of General Motors Corporation as one of his primary assignments. During this tenure with D&T his specific responsibilities in addition to audit services included providing client services related to venture capital opportunities, SEC public offerings, mergers and acquisitions, development of strategic business plans, cash management, cost and budget controls, and tax planning.

Mr. Berg holds a Bachelors of Arts in Accounting from Walsh College where he graduated Cum Laude. Mr. Berg became a Certified Public Accountant (CPA) in the State of Michigan in 1979 and in the State of California in 1984.

"Gerry's experience in automobile industry will be invaluable to us as we build and expand our business model," said Tony Lam, CEO of Friendly Auto Dealers. "His hands-on experience working in the domestic and international business community will also be an asset as we move forward."

"I am excited about the growth opportunities at Friendly Auto," said Berg. "I look forward to assisting the management team as we implement the Company's operational strategies."


Friendly Auto Dealers is a start-up company incorporated on August 6, 2007, under the laws of the State of Nevada. The principal offices are located at 4132 South Rainbow Boulevard, Suite 514, Las Vegas, Nevada. The telephone number is (702) 321-6876. The fax number is (702) 939-0655. Friendly Auto Dealers is a developer and seller of customized apparel and consumer products and logos in China.

Safe Harbor Statement

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

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