Archive - May 19, 2008

SANTA ROSA, CA (May 19, 2008) -- Electric vehicle pioneer ZAP (OTC BB: ZAAP) announced today that Dubai's Al-Yousuf Group has completed a transaction to purchase a convertible debt that was part of a private placement registration from October 2007. As part of the transaction, The Al Yousuf Group has purchased the convertible debt for $475,000. "We are continually grateful for the commitment and support that Mr. Eqbal Al Yousuf has given ZAP," said ZAP CEO Steve Schneider. "The purchase of this convertible debt will help ZAP's business plans." The United Arab Emirates manufacturing and distribution company purchased $5 million ZAP shares in November. In December, Mr. Eqbal Al-Yousuf, President joined ZAP's Board of Directors. About ZAP