SEBASTOPOL, Calif., June 25, 2002 (PRIMEZONE) -- ZAP (OTCBB: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.
Daka plans to join efforts with ZAP in the development of a full range of advanced aquatic propulsion systems; ZAP holds several patents in the field. One of Daka's newest products, the Sea-Doo Sea Scooter, is a revolutionary affordable underwater propulsion device designed to pull swimmers, divers and snorkelers through the water. Daka has also developed a low-cost bicycle accessory that can turn a normal bicycle into a human-electric hybrid vehicle. Daka is involved in the development of several other products, including a self-recharging flashlight.
Part of Daka's research and development includes a partnership with Sinclair Research, the company founded by one of Britain's most famous inventors, Sir Clive Sinclair, who is also a director and shareholder in Daka. Sir Clive's innovations include pocket calculators, pocket TVs and more. Plans are underway by Sinclair to unveil a group of innovative, yet highly efficient on-road and specialty vehicles.
ZAP is a publicly owned company with stock trading under the symbol ZAPPQ. The California Company is involved in the marketing, design, manufacturing and distribution of a variety of advanced transportation and alternative energy products. For more information, visit http://www.zapworld.com or call 1-800-251-4555.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause the actual results to differ materially from management's projection, forecasts, estimates and expectations is contained in the Company's Form 10-K and other SEC filings.