NEWPORT BEACH, Calif., May 2, 2001 (PRIMEZONE) -- Electric vehicle manufacturer ZAPWORLD.COM (Nasdaq:ZAPP) announced today the opening of an amusement park attraction for electric scooters called "ZAPPYLAND" at the Balboa Fun Zone in Newport Beach, California.
"ZAPPYLAND" is a new indoor track for electric scooters that has been under operational testing for the past three weeks and is now open for business. The track was established in conjunction with the nearby ZAPWORLD (ZAP) Store on Balboa Island, a tourist district of Newport Beach. Founded in March, the store is a joint venture between ZAP and Donner Corporation, a business consulting and marketing firm from nearby Santa Ana.
Zappyland features and rents ZAP products in an indoor racetrack atmosphere. The amusement park attraction is aimed to broaden the public interest for ZAP in Southern California. The nearby store sells, rents and services all of ZAP products, including electric scooters, water scooters, bicycles, mopeds, motorcycles and more.
"Zappyland is a real complement to our efforts in Newport Beach," said Richard Contreras, General Manager of the ZAPWORLD Store. "Since we started renting scooters at the track, there has been an immediate boost in our sales and rental volume and revenues at the store. In fact, the store generated nearly $15,000 in product sales over the past 3 weeks. Many of our guests at Zappyland often visit the store to inquire further about ZAP products and the Company."
Contreras added that the store is currently offering a ten percent discount off ZAP products to customers with proof of a recent stock purchase of ZAPWORLD.COM.
Established in the 1930's, The Balboa Fun Zone amusement park is at the heart of the entertainment center of Balboa Village. Around a million people per year enjoy walking through the shops, rides, and games at the Balboa Fun Zone. The ferry terminal next door provides automobiles and pedestrian access to Balboa Island and the mainland. According to December 1999 real estate figures, residential properties surrounding Zappyland in Balboa are estimated at $500,000 to $21,000,000. Patrick Moore, General Manager of Balboa Fun Zone Rides, Inc., says that the ZAPPYLAND electric scooter track is a perfect fit to Balboa.
"Zappyland is a terrific addition to the Fun Zone," said Moore. "ZAP products are outstanding, and ZAP representatives are some of the friendliest people we've met. I am personally tracking the stock price of ZAPWORLD.COM."
Zappyland at the Balboa Fun Zone is now open for business and is located at 600 E. Bay Avenue, Balboa Fun Zone, Space B-3, Newport Beach, California. For more details about Zappyland, contact ZAPWORLD Store of Newport Beach by phone at 949-566-ZAPP (9277).
ZAPWORLD.COM is publicly owned with stock trading under the symbol ZAPP on the Nasdaq Small Cap market. For further information on opening a ZAP store, visit ZAP's website at http://www.zapworld.com or call 800-251-4555.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.