General Magic & Technology Federal Credit Union Announce Car Shopping Service for the World Wide Web
SUNNYVALE, Calif. — June 25, 1996 — Technology Federal Credit Union (Tech Fed) and General Magic, Inc. (Nasdaq: GMGC) today announced that they have reached an agreement in principle for the development of a Web-based version of The Car Store, a car shopping service for Tech Fed members. The new Web-based version, utilizing active agent technology, is being developed with General Magic's Tabriz(TM) AgentWare.
The Car Store, one of a suite of member services, assists members with shopping for and financing a new vehicle. Currently, Tech Fed's Car Store consultants assist members with pre-approval for auto loans and with locating an automobile from more than 50 participating dealerships. With Tabriz, users are expected to simply register their preferences for the vehicle with an electronic agent; once the vehicle information is found, an agent will notify the user via email, fax or pager. Should the user prefer, a Car Store consultant may also be notified by an agent if the user would like additional assistance with financing options.
"Tech Fed is constantly seeking new ways to optimize the services we offer our members. General Magic's agent technology provides our members access to cutting-edge services that save them both time and money," said Harold Roundtree, vice president, member services.
"Tech Fed's Car Store is perfectly suited for General Magic's Tabriz AgentWare, and demonstrates the power of agent use in electronic commerce," said Lucia Hicks-Williams, Vice President and General Manager of Active Internet Products Division at General Magic. "By delegating browsing and searching tasks to agents, the Web becomes active since agents are working on behalf of users, even while they're off line."
Pricing and Availability
The availability of the agent-based Car Store is currently scheduled for the fourth quarter of 1996 and will be available at no cost to Tech Fed members and non-members. Non-members can utilize agents for locating an automobile, and will then be presented with financing options.
In accordance with U.S. securities law, General Magic notes that this press release contains forward-looking statements. There are risks that may cause actual results to vary materially. These risks include, but are not limited to, reliance on key technical and management personnel, potential schedule changes, competitive pressures and emerging Internet standards. Additional risk factors are detailed in General Magic's 1995 10-K and its first quarter 1996 10-Q filed with the Securities and Exchange Commission.
General Magic, Inc. was founded in 1990 and provides engaging, active Internet software for business professionals, developers, device manufacturers, service providers and enterprises. General Magic is headquartered in Sunnyvale, California, with offices in Paris and Tokyo. For more information on General Magic and its products, visit General Magic's Web site at http://www.genmagic.com/.
NOTE: Tabriz is a registered trademark of General Magic, Inc. General Magic acknowledges the rights of the trademark owners for all trademarks referred to herein.
CONTACT:
Susan Nicolls, 408-774-6901, or [email protected], or Tom Hershenson, 408-774-4343, or [email protected], both of General Magic Inc.