LOS ANGELES, Oct. 9, 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, announced today that it is targeting the greater Los Angeles area for the site of its second Wheel Lots store.
"Initially we were focusing on the Inland Empire area. However, since this October when we launched our radio campaign, we realized that in order to assist our customers after they made purchases, we would like to have the second Wheel Lots store cover a different part of the city," Mizati CEO Hazel Chu said. "With this scenario, both geographic areas will be covered by at least one location for the installation of customers' purchases, and in 2008, we will have 6-8 stores opened between Inland Empire and the greater Los Angeles area," Chu added.
The Rent-To-Own market took in over six billion dollars in 2006 and offers consumers an alternative purchase plan. Due to consumers' shrinking spending power, Rent-To-Own offers an alternative route, one that offers minimum weekly payments that afford customers financial flexibility, a flexibility which allows them to maintain a comfortable lifestyle.
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 business has become a substantial market segment for American retailing; 2.8 million Americans spent $6.7 billion in 2006 on rent-to-own transactions. For more information about Wheel Lots, CA LLC, please visit the upcoming Web site at http://www.wheellots.com
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.
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.