SOURCE: Exit Only, Inc.

April 15, 2008 10:39 ET

Exit Only's (EXTO) Text4cars.com Signs Sam Swope Auto Group, the Biggest New and Used Car Dealership in Kentucky and Southern Indiana

SANTA MONICA, CA--(Marketwire - April 15, 2008) - Exit Only, Inc. (PINKSHEETS: EXTO) and Text4cars, a wholly owned subsidiary of Exit Only, Inc., are pleased to announce the signing of Sam Swope Auto Group to deliver their vehicle inventory to the Text4cars.com website.

The Sam Swope Auto Group, founded in 1951, is composed of 23 dealerships, 15 in Louisville, and 8 affiliated dealerships in Lexington, Radcliff, and Elizabethtown, Kentucky. In 2006 they sold over 100,000 vehicles, making them the #1 New and Used Car Dealer in the Kentucky and Southern Indiana region (as ranked by Business First, December 2007).

"We are very pleased to add the Sam Swope Auto Group to our website. The size and reputation of this Group increases shareholder value while enhancing our ability to continue to add top dealerships in the U.S. to Text4cars.com," said David Dion, C.E.O. of Exit Only, Inc.

About Sam Swope Auto Group

The Sam Swope Auto Group is owned by the Swope family of Louisville, Kentucky and is composed of 15 dealerships in Louisville, and 8 affiliated dealerships in Lexington, Radcliff, and Elizabethtown. Their dealerships include BMW, Cadillac, Lexus, Volvo, Infiniti, Toyota, Scion, Honda, Mitsubishi, Suzuki, Pontiac, GMC, Dodge, Buick, Ford, Chrysler, and Saturn. Sam Swope Auto Group has an excellent reputation for customer satisfaction and community relations. Please visit www.swope.com.

About Exit Only, Inc.

Exit Only, Inc.'s fully owned subsidiary, Shortcode Inc., owns the unique car buying website www.text4cars.com. Text4Cars.com was initially launched in Canada in January 2007. Its Canadian website currently features over 35,000 cars. Due to their incredible popularity in Canada, they are currently aggressively entering the U.S. market. Within a few weeks they ramped up to over 7500 cars. Text4cars.com is unique because they do not charge a fee to individuals or dealers for posting their vehicle. Their revenue is generated by charging the seller $2.00 each time they receive a text message requesting information on their vehicle. They have third party agreements with AT&T, Sprint Nextel, Verizon, Midwest Cellular, Suncom Cellular, Virgin U.S., and U.S. Cellular. These companies charge their users $2.00 each time they accept a text message from Text4cars.com. Buyers can only contact the seller through text messaging. New and Used Car dealerships don't pay anything to have their cars listed, they pay a $199 set up fee, a $99 quarterly fee, plus $2.00 for each text message they receive. Since the company's appearance at the 2008 NADA Show in March, they listed over 7500 cars in their first two weeks.

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

  • CONTACT:

    Investor Relations
    David Dion
    1-888-736-0481