STANTON, Calif., Nov. 15, 2007 (PRIME NEWSWIRE) -- Management of Pro Motors Group Corp. (Pink Sheets:PMGU), www.promotorsbid.com, was encouraged by the news Berkshire Hathaway disclosed yesterday confirming that it had made a major investment in CarMax, Inc. The Omaha, Nebraska-based Berkshire revealed a 13.98 million share stake in CarMax valued at $284.3 million, according to a U.S. Securities and Exchange Commission filings.
"This transaction by billionaire Warren Buffett, into the largest U.S. auto retailer of used cars helps to validate our business model, and we were pleased to see this news," stated Frank Weber CEO of Pro Motors Group Corp. "Although we are a very new contender in this industry category, and still tiny compared to CarMax, we have a similar business model and expect to grow rapidly and capitalize on this lucrative $30B market." Pro Motors Group actually adds an additional twist, benefiting the consumer, by providing a public auto auction outlet, offering a unique opportunity for consumers to bid and save on daily online auto auctions. It offers the first of its kind dealership, a mega public auto auction and complete dealership in one. The Company prides itself on customer service and satisfaction, assuring that all vehicles receive a 68 point ASE inspection.
Pro Motors specializes in vehicles priced at $10,000 or less, as well as top end vehicles. It is one of the first publicly traded online auto bidding companies in the industry and expects to open traditional dealerships nationwide.
For more information please contact Investor Relations at 888-777-4707 or visit the company website at: www.promotorsbid.com
Safe Harbor Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006.