LOS ANGELES, Aug. 2, 2007 (PRIME NEWSWIRE) -- Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), a distributor of high-quality luxury alloy wheels for passenger cars, sport utility vehicles, vans, and light trucks, held a grand opening celebration at its new 3,000 square-foot Wheel Lots store in Upland, CA on July 27th, 2007.
Nearly 80 guests attended the celebration, which included a ribbon cutting ceremony attended by Upland City Council member Mr. Ray Musser and Mizati CEO Ms. Hazel Chu. The event included live music and prizes provided by Power 106 and a taco cookout. "We are very pleased that the grand opening was successful. Looking at the number of people who attended the opening, all the waiting and hard work paid off," Mizati CEO Hazel Chu said. "The best part was that there were a few customers who took the advantage of our grand opening specials. We signed two rent-to-own agreements and one purchase agreement on the site," Rick Lee, store manager of Wheel Lots, said excitingly.
"I want to thank everyone for supporting us on the opening of our first Wheel Lots store. I also want to let everybody know that there will be two more Wheel Lots stores opening before the end of 2007. Now that the first store has opened, it is time for us to start working on the next one," Chu added.
About Wheel Lots, CA LLC
Wheel Lots, CA LLC ("Wheel Lots") is an innovative, fast-growing provider of custom luxury alloy wheels on a rent-to-own basis through retail store outlets. Incorporated in 2007, Wheel Lots is a wholly-owned subsidiary of Mizati Luxury Alloy Wheels, Inc. ("Mizati"). The Rent-To-Own has become a substantial market segment for American retailing; 2.8 million Americans spent $6.7 billion in 2006 on rent-to-own transactions.
About Mizati Luxury Alloy Wheels, Inc.
Mizati Luxury Alloy Wheels, Inc. ("Mizati") designs, markets and distributes high-quality custom alloy wheels for passenger cars, sport utility vehicles, vans, and light trucks. Incorporated in 2001, the Company operates from its corporate headquarters in Walnut, California. Mizati currently markets and distributes three separate and unique brands of luxury wheels, "Mizati(r)," "Hero(tm)" and "Zati(tm)", through a network of 425 dealers and distributors. Mizati has achieved an average annual revenue growth rate of 102% for the past three years and had total revenue of $4,162,754 in 2006.
For more information about Mizati Luxury Alloy Wheels, Inc. (Pink Sheets:MZTI), visit the company website at http://www.mizatiwheels.com.
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"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in MZTI Securities and Exchange Commission filings. MZTI undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.