HOUSTON, May 3 -- Ashford.com (Nasdaq: ASFD), the leading
e-commerce destination for corporate and personal gifts and rewards, today
announced the completion of the acquisition of GUILD.com, originally announced
January 4, 2001. The addition of GUILD.com will complement Ashford`s already
extensive selection with more than 10,000 quality works from more than
1,500 practicing artists. GUILD.com will receive approximately 8.7 million
shares of Ashford stock.
Toni Sikes and Gordon Mayer, former Chairman and President, respectively,
of GUILD.com, will serve as co-Presidents of Ashford`s Art Division. An
international expert on the marketing of art, Sikes founded THE GUILD in 1985
as an art publishing company that connects professional artists with
architects, interior designers and art consultants. In 1998, Sikes launched
GUILD.com as another way for artists to market their work. Mayer, a leading
strategist in the technology field, was Chairman and CEO of Geoworks
Corporation, and held management and marketing responsibilities at
high-technology firms, including InfoChip, Proxim and Adept Technology.
About Ashford.com
Ashford.com is the leading e-commerce destination for corporate and
personal gifts and rewards. The company`s two e-commerce sites,
http://www.ashford.com and http://www.ashfordcorporategifts.com, offer 25,000 attractive
gifts and rewards, including new and vintage watches, jewelry, fragrances,
leather accessories, diamonds, ties, scarves, sunglasses, and writing
instruments from more than 400 leading brands. Dedicated to creating an
exceptional luxury shopping experience, Ashford.com provides overnight
shipping on nearly all items, gift packaging, and a 30-day money-back
guarantee on all merchandise. It also offers the Ashford.com Protection
Plus(SM) policy, which provides outstanding product warranties, customer
privacy, and site security. Ashford.com is headquartered in Houston, Texas.
Ashford and Ashford.com are trademarks, and Ashford.com Protection Plus is
a service mark, of Ashford.com, Inc. All other marks are the property of
their respective owners.
Forward-Looking Statements
This release contains forward-looking statements involving risks and
uncertainties that include, among others, the Guild`s expected cash and
inventory position at closing, Ashford`s expected financial performance and
Ashford`s operational and strategic plans. Actual results could differ
materially from the results predicted in this release. The potential risks
and uncertainties that could cause actual results to differ from anticipated
results include but are not limited, the unpredictability of future revenues,
potential fluctuations in quarterly operating results, seasonality, consumer
trends, competition, risks of system interruption, inventory risks, and risks
of new business combinations and strategic alliances. Ashford makes these
forward-looking statements as of the date of this release and assumes no
obligation to update these statements. More information about factors that
potentially could affect Ashford`s business and financial results is included
in Ashford`s most recent quarterly guidance, provided on February 6, 2001, and
available at http://www.prnewswire.com/micro/ASFD as well as the company`s filings
with the Securities and Exchange Commission, including its most recent
quarterly report on Form 10-Q.
Ashford and Ashford.com are trademarks, and Ashford.com Protection Plus is
a service mark, of Ashford.com. All other marks are the property of their
respective owners.
CONTACT:
Ellen Brooks, Investor Relations
713-369-1300
ebrooks@ashford.com
Thane Ryland, Public Relations
608-227-4163
tryland@ashford.com
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