Corporate

Electric Bicycle, Scooter Pioneer ZAP Finalizes Mergers With Two Automotive Companies

SEBASTOPOL, Calif., June 27 -- ZAP (OTC Bulletin Board: ZAPPQ), the Company that popularized the U.S. market for electric bikes and scooters, announced that July 1, 2002 will be the Effective Date for mergers with Voltage Vehicles and The RAP Group, Inc., two companies specializing in automotive distribution and marketing.

ZAP and Daka Development Join Efforts in Advanced Transportation Marketing & Design

SEBASTOPOL, Calif. (June 25, 2002) - ZAP (OTC:ZAPPQ) announced today that it has signed an agreement with Daka Development for the design, manufacturing and marketing of a full-line of advanced transportation and alternative energy products. Daka specializes in the development of innovative products for the alternative energy lifestyle. Under the agreement, ZAP will serve as a distributor for Daka's products through its network of advanced transportation dealers.

ZAP Plan of Reorganization Confirmed, Emerges from Chapter 11

SEBASTOPOL, Calif. (June 21, 2002) - ZAP (OTC:ZAPPQ) announced today that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court, which clears the way for the Company to emerge immediately from Chapter 11. The Plan includes a merger with two privately held companies as well as a reverse split of its stock.

ZAP Begins Trading on OTC Bulletin Board

SEBASTOPOL, Calif., May 16, 2002 -- ZAP (OTCBB:ZAPPQ) today announced that its stock has begun trading on the Over-the-Counter (OTC) Bulletin Board effective May 14, 2002. The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last sale prices and volume information in over-the-counter equity securities. OTC Bulletin Board securities are traded by a community of market makers that enter quotes and trade reports through a highly sophisticated computer network. Investors work through a broker/dealer to trade OTC Bulletin Board Securities. Information regarding the OTC Bulletin Board, including stock quotations, can be found on the Internet at http://www.otcbb.com.

ZAP Receives Delisting Notice from Nasdaq

SEBASTOPOL, Calif., April 29, 2002 -- On April 29, 2002, the Nasdaq Stock Market notified ZAP (Nasdaq:ZAPPQ) that its shares of common stock would be delisted from the Nasdaq Small Cap Market effective with the open of business on April 30, 2002. As grounds for its decision, the Nasdaq hearing panel that made the delisting decision cited uncertainty over the company's future in light of its current chapter 11 proceedings. In particular, the panel noted that the timing and the completion of the Company's plan are uncertain.

ZAP Moves Forward With its Plan of Reorganization; Files Plan and Disclosure Statement With the Bankruptcy Court

SEBASTOPOL, Calif., April 15, 2002 -- ZAP (Nasdaq:ZAPPQ) today announced that it has submitted a Disclosure Statement and Plan of Reorganization with the Santa Rosa division of the United States Bankruptcy Court, Northern District of California. The Disclosure Statement needs to be approved by the Court prior to the Plan's submission to the creditors and shareholders for vote. The Plan primarily calls for creditors to be issued stock and warrants in exchange for Debt. Upon the effective date of the Plan, ZAP will acquire RAP Group, Inc. and Voltage Vehicles.

ZAP Files Request for Nasdaq Listing Qualification Panel Hearing

SEBASTOPOL, Calif., March 28, 2002 (PRIMEZONE) -- ZAP (Nasdaq:ZAPPQ - news) today announced that on March 21, 2002, the listing qualifications section of Nasdaq notified ZAP that Nasdaq intends to delist ZAP from The Nasdaq Stock Market for failure to comply with Marketplace Rules 4330(a)(1), 4330(a)(3), 4310(c)(2)(B and 4310(c)(13).

ZAP Signs Agreements to Merge with Two Automotive Companies

To Be Integral Part of ZAP's Reorganization Plan

SEBASTOPOL, Calif., March 28, 2002 (PRIMEZONE) -- ZAP (Nasdaq:ZAPPQ - news) today announced it has signed Agreements to merge with two privately owned companies involved in alternative fuel vehicles, automotive sales and distribution. RAP Group, Inc. (RAP) and Voltage Vehicles are two Sonoma County, California-based companies with strategic relationships in automotive services looking to accelerate their growth in the alternative transportation market. Both of the mergers with ZAP will be an integral part of, and contingent on, ZAP's Plan of Reorganization being approved by its creditors and shareholders and confirmed by the U.S. Bankruptcy Court.

ZAP Signs Memorandums of Understanding With Three Automotive Companies

SEBASTOPOL, Calif. (March 15, 2002)-ZAP (NASDAQ:ZAPPQ) announced today it has signed Memorandums of Understanding to merge with three privately owned companies involved in alternative fuels, automotive sales and distribution. RAP Group, Inc. (RAP), Daybreak Auto Recovery, Inc. (Daybreak), and Voltage Vehicles are three Sonoma County, California-based companies with strategic relationships in automotive services looking to accelerate their growth in the alternative transportation market. All three mergers with ZAP are contingent upon the signing of definitive agreements and ZAP's Plan of Reorganization being approved by its creditors and shareholders and confirmed by the U.S. Bankruptcy Court.

ZAP Announces Plan to Reorganize Under Chapter 11

SEBASTOPOL, Calif.-March 1, 2002-ZAP (NASDAQ:ZAPP) filed a voluntary petition today for reorganization under Chapter 11 of the U. S. Bankruptcy Code with the U.S. Bankruptcy Court in Santa Rosa, California. The protection of Chapter 11 allows ZAP to reorganize its business operations and finances. The Company plans to use existing cash, revenue generated from normal business activities, and the benefits of relief opportunities provided by Chapter 11 to finance operations through this period and to create new business opportunities in 2002.
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