November 18, 2005 - New York, New York,
- National Auto Credit, Inc. [OTCBB:NAKD] ("NAC")
announced today its acquisition of 100% of the
membership interest in Option Technologies Interactive
LLC (“OTI”). OTI is a technology company providing
interactive software and hardware systems and services
for use in live events, training and education satellite
videoconferencing and corporate meeting services. OTI
is headquartered in Orlando, FL with additional full
service sales and service offices in Ogden, UT and
Chicago, IL. Option Technologies Interactive LLC
will still operate as it has in the past but will now be
an independent business unit of NAC.
As a consequence of the acquisition
of OTI and in combination with other NAC subsidiaries, NAC
becomes one of the largest providers of audience
response technology worldwide with more than 3,000
clients and systems placed in more than 27 countries.
OTI provides unique and critical solutions for the
communication industry for small group gatherings and
large event programs.
James McNamara, Chairman and Chief
Executive Officer of NAC, said: "We are delighted to add
OTI and its team of dedicated professionals, to NAC.
OTI becomes another significant component in NAC’s tool
chest of proprietary products and techniques which
enhance the efficacy of all corporate communications
efforts from presentation, through strategic content, to
distribution. And, because NAC believes in tangible
results, it can provide a sensitive measurement
methodology, to allow clients to both quantify and
qualify the results of their meetings and messaging."
Mark Fite, President of OTI added:
“We are excited about our combination with NAC, which
provides OTI with exciting new strategic growth
prospects and opportunities.” NAC is a corporate
communication and entertainment innovator headquartered
in New York City. NAC’s depth of communication services
includes the design, development and production of
media, collateral content and data collection and market
research services for corporate events, meetings and
symposiums held at single sites or multi-sites with
simulcasting, via satellite, or the internet.
OTI’ products and services
facilitates event data management collection whereby
event sponsors and/or clients can obtain, analyze and
respond dynamically, in real-time, to audience
preferences and attitudes or provide responses to
specific queries within an event. Through robust, custom
software applications and the use of radio frequency (“RF”)
transmission and RF collection devices, OTI is able to
provide data software and on-site services to assist in
engaging corporate and other audiences in understanding
and relating to the overall communication program,
ensuring better information retention, providing a
record of responses for regulatory and testing purposes
and in many cases providing clients with live field data
not otherwise easily obtained.
For more information, contact
Katheryne Pelak at 407-872-3333 or
kpelak@optiontechnologies.com
This news release may include statements that constitute
forward-looking statements, usually containing the words
"believe", "estimate", "project", "expects", or similar
expressions. These statements are made pursuant to the
safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties
that could cause actual results to differ materially
from forward-looking statements. By making these
forward-looking statements, NAC undertakes no obligation
to update these statements for revisions or changes
after the date of this document.