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TIANJIN CITY, CHINA--(MARKET WIRE)--Dec 11, 2008 -- Making rapid progress in the nationwide expansion of its website aimed at domestic car buyers and dealers, Fresh Ideas Media, Inc. (OTC BB:FIDM.OB - News), which expects to soon change its name to China Auto Logistics Inc. (the "Company"), announced today the launch of www.1365car.com in Jinan, the capital city of Shandong, one of the largest provinces in China.
The Company, one of China's leading auto importers, a top provider of one-stop auto logistics and dealer financing, and the owner and operator of two leading auto websites, which has successfully launched www.1365car.com in Tianjin, Beijing and Xi'an, said the launch in Jinan expands the website's audience to the 7 million residents of this city, and potentially to the nearly 100 million residents in the fast growing Shandong province.
Over the past several months, the Company said it has paved the way for this launch with a wide variety of promotional events and cooperative agreements with local media and China Merchants Bank, one of the largest banks in the country. As a consequence, the Company anticipates signing up approximately 30% of Jinan's 96 4S dealers in 2009 and generating revenues by the second quarter of 2009, as increasing numbers of the more than 12,000 current daily browsers on the website become customers of these dealers.
Lowest Financing Through China Merchants Bank
"Through the relationship we have developed with China Merchants Bank," stated Mr. Tong Shiping, CEO and President of the Company, "we also are promoting and providing dealers the lowest financing online as well as the lowest guarantee service fee with cooperation we have developed with the guarantee companies. Further, more than 80 out of the city's 96 4S dealers have agreed to provide quotes online which we are updating through weekly visits to them."
Mr. Shiping added that the Company's fee to dealers will be very competitive and in tandem with services offered on the website -- such as video auto presentations, online customer service, and real-time Q&A -- believes it will achieve local leadership in the near future.
"Further," stated Mr. Shiping, "as in all the cities in which we operate our website, we expect that our price quotes and information on promotions will be the most timely and most accurate available. Combined with our unique promotional activities, consumers will have compelling reasons to consult www.1365car.com before making any auto purchase decisions."
Focus On Government Agencies
Mr. Shiping also noted that while focusing on the very large and growing consumer population in Jinan and Shendong Province, the Company is paying special attention to local government agency and state-owned Company purchasers in Jinan with a variety of specially designed services.
Company Description
Founded in 1995, with profitable sales in 2007 of approximately $152 million, the Company has grown to become one of the top importers and sellers of luxury vehicles in China. Imported luxury autos, accounting for more than 10% of all Chinese auto sales revenues, are the fastest growing segment of the still young Chinese auto industry, now the second largest in the world. The Company has grown sales and profits by becoming one of China's top logistical servicing and financing companies for auto importers. Additionally, it is a leader in providing accurate pricing and other auto-related information with its two web portals, www.at188.com, aimed at the import market, and www.1365car.tj.cn, which it is expanding throughout China to reach the much larger market of domestically manufactured auto purchasers and dealers. Following completion of a successful reverse merger on November 10, 2008, the Company is trading as a fully reporting company in the U.S. as Fresh Ideas Media, Inc. with the stock symbol FIDM.OB. It shortly expects to officially change its name to China Auto Logistics Inc. For additional information, please visit www.chinaautologisticsinc.com.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
Contacts:
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Fax: 212-425-6951
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