SOURCE: Exit Only, Inc.

December 20, 2007 09:44 ET

Exit Only, Inc. Enters Into US Joint Venture Agreement With Shortcode, Inc. of Florida

Company Enters Multi-Billion Dollar New and Used Automobile Marketplace in the United States

SANTA MONICA, CA,--(Marketwire - December 20, 2007) - Exit Only, Inc. (PINKSHEETS: EXTO), which generates its revenues from the web-site, has entered into a joint venture agreement with Shortcode, Inc. of Florida for the marketing and distribution of leads for new and used automobiles in the United States. Shortcode, Inc. of Florida has extensive experience and maintains a large customer base through its marketing of new and used products to automotive dealerships.

According to a recent New York Times article, about 16 million new cars and 19 million used cars are sold each year in the United States, generating billions of dollars in sales. According to industry sources, it is estimated that the average car dealer generates 1 sale for every 6 to 8 leads at an average cost of $25-$30 per lead. Therefore, the current market for lead generation is estimated to be in the hundreds of millions per year. Under the model, dealers can generate a lead for as little as $2.00 per lead which ultimately increases their profit margins.

The Shortcode/Exit Only joint venture is anticipated to gain at least 2% of the US automotive lead generation business within the next 12 to 18 months using the proprietary technology.

D. Kim Hackett is a founding partner and CEO of Shortcode, Inc., coming from AutoNation where he spent five years on national corporate operational initiatives (including the creation and management of the E-Commerce Department). Kim joined AutoNation as the corporate Vice President of Operations after his 9 Orlando dealerships were acquired by AutoNation in a private transaction. He started his Orlando-based automotive group 12 years earlier with a single Pontiac location expanding it to include Buick, GMC, Isuzu, Suzuki, Kia and all of the Orlando-area Saturn dealerships. Mr. Hackett is also currently involved as a Founding member in both MenuVantage, LLC (Web-based Menu Selling system for Auto Dealers) and Kaizen Media Holdings, LLC (Multi-Media Company specializing in web-based Virtual Training and Point of Sale Digital Signage for the automotive industry).

David Dion, CEO of Exit Only, Inc., comments, "This new partnership falls inline with our continuous efforts to further the growth of This new venture will rapidly expand the network. We have the structural backbone and now it is full steam ahead in the US. I am confident that our new venture will be able to add a revolving 100,000 to 200,000 vehicles to the site in the coming year. Mr. Hackett and his team have an extensive automotive network in the US and will grow the company to new levels."

Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements.

Contact Information

  • Investor Relations:
    David Dion