ZAP announces 100-unit block purchase order for SMART Car

ZAP announces 100-unit block purchase order for SMART Car

SEBASTOPOL, California (November 30, 2004) - Automotive technology pioneer ZAP (OTC BB:ZAAP) announced today that, based on interest generated at the San Francisco International Auto Show last week, it has received a 100-unit block purchase order from a U.S. automotive dealer.

ZAP will not announce the name of the dealer until the cars are ready to be sold to the general public, but is in discussion with a number of government and corporate fleets as well as automotive wholesale dealers for purchase orders of 100 or more cars, up to 15,000, by December 31, 2004 due to U.S. small manufacturers limitations.

ZAP unveiled the SMART Car to U.S. consumers last week at the San Francisco International Auto Show, announcing that the U.S. Environmental Protection Agency has issued a Letter of Conformity for the 60-MPG car. This regulatory approval clears the way for ZAP to begin organizing U.S. marketing and distribution for the SMART Car. ZAP has an exclusive distribution contract with SMART-Automobile LLC for the rights to sell the cars in the United States with a near-term goal of 150 dealer outlets by second quarter of fiscal year 2005.

The SMART car enables ZAP to execute its new business plan of establishing a ZAP auto dealer network that caters to socially responsible car buyers with advanced automotive technologies, including fuel-efficient automobiles powered by gasoline, electric, hydrogen and other fuels. The publicly owned Northern California Company made a name for itself over the past decade pioneering the market for electric cars, bikes and scooters.

The SMART Car Americanized by ZAP is stylish, fun, parks in the space of a motorcycle, stands up to a Mercedes in crash-tests, and reportedly averages 60-MPG, making it one of the most efficient internal combustion cars on the market, rivaling even hybrid gas-electric cars. The SMART car has become a popular culture icon since its release in Europe in 1998 and ZAP believes Americans will snap up the SMART with gas prices at record levels.
SMART-Automobiles LLC is an independent, privately-held company that oversees the direct importation and modification of automobiles to meet U.S. standards.