SOURCE: Rocket City Enterprises

December 12, 2007 16:19 ET

Rocket City Enterprises Appoints New Management Team

ORLANDO, FL--(Marketwire - December 12, 2007) - Rocket City Enterprises, Inc. (PINKSHEETS: RCTY) announced that its Board of Directors has appointed Dan Hair as its interim Chief Executive Officer, Jeff Frimmersdorf as Executive Vice President - Business & Product Development and Brian Santor as Executive Vice President of Sales and Marketing. All new appointments are effective immediately.

Dan Hair's appointment was made after Jeffrey Roman, the Company's CEO, was terminated for malfeasance. In addition, Matthew Brown, the Company's President, resigned. Jeffrey Roman has filed a lawsuit against the Company for wrongful termination. Rocket City intends to answer the complaint and assert counter-claims against Mr. Roman. The Company believes Mr. Roman's claims are without merit and intends to defend itself vigorously.

Dan Hair has over 30 years experience as COO, CFO and/or CAO for several publicly and privately held companies, including a number of technology companies. He has assisted these companies with raising or restructuring capital in public and private equity markets including angel investors, venture capital and public debt and equity structures ranging from small startups to billion dollar enterprises. Mr. Hair has been responsible for high-volume call centers, distribution centers, and all enterprise operations excluding only sales and marketing.

Jeff Frimmersdorf worked for eBay Inc. from March 1999 thru October 2005, and was a principle member of the team that launched eBayMotors.com, in April of 2000, and grew it into the world's most visited automotive marketplace. Prior to this experience, Jeff was one of the original employees assigned to eBay's Trust & Safety Division where he assisted in the establishment and enforcement of many of eBay's policies. Jeff is now co-founder of Accrete Holdings llc., and its subsidiary, Online Auto Partners llc., and has more than eight years of uniquely targeted corporate consulting experience within the automotive industry.

Brian Santor was integral in the creation and management of the first annual eBay Live in 2001, and managed eBay Motors' University, and eBay Motors' online consumer-based marketing efforts through September 2005. Brian's previous experience includes nearly a decade of organizing, marketing and producing large scale events in the international trade show industry. Brian is now co-founder of Accrete Holdings llc., and its subsidiary, Online Auto Partners llc.

Rocket City Enterprises, Inc. is a publicly traded company (PINKSHEETS: RCTY) and was formed to acquire, manage, supervise and operate corporations specializing in auction services, eCommerce, software development, technology and retail automotive operations. RocketCity is an online solution provider for a variety of web-based platforms and offers proprietary software, technology, personnel and design solutions to hundreds of automotive dealerships around the country and additional partners throughout the marketplace. Visit them on the web at www.RCAU.com to learn more.

Disclaimer:

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.

Contact Information

  • Contact:
    Rocket City Enterprises
    Investor Relations:
    Andrew Barwicki
    407-219-3770
    Email: Email Contact