NextPart.com

NextPart.com recognizes that few automobile parts from damaged vehicles ever make it to the marketplace. Despite a high demand for OEM auto parts, inefficiencies in the marketplace and high search costs prevent do-it-yourself home auto mechanics and professional auto repairers from utilizing the available parts inventory. NextPart.com will create a web-based marketplace for recycled auto parts.

Every day, millions of dollars of consumer surplus are wasted by unnecessarily putting brand new parts into older vehicles. This will be eliminated by NextPart.com's ability to provide the correct year/make/model replacement part for all vehicles at 20-40% of the cost of new parts. This reclaimed consumer surplus will be returned to automobile owners through reduced insurance premiums and lower total cost of automobile ownership.

NextPart will transform the auto recycling industry from a low turnover, high margin business into an efficient low margin, high turnover industry. By increasing the availability of recycled parts, the per-unit price of each part will be reduced which will further strengthen the appeal of recycled parts over OEM parts.

The Company's principals include:

Eric M. Koenig. Mr. Koenig will receive his Master of Management in Manufacturing in June 2000 from Kellogg Graduate School of Management McCormick School of Engineering and Applied Science Northwestern University. He received a Master of Science degree in electrical engineering in August 1998 from Virginia Polytechnic Institute and State University. Mr. Koenig holds a B.S. in electrical engineering from The Pennsylvania State University. Prior to joining NextPart, Mr. Koenig spent seven years with the U.S. Navy in the Office of Naval Intelligence and as Chief Engineer of the USS Grayling, a nuclear attack submarine.

Jeffrey F. Wadlin. Mr. Wadlin will receive his Master of Management degree in June 2000 from J.L. Kellogg Graduate School of Management. He received a B.S. degree in mechanical engineering in May 1993 from the University of Virginia. Prior to joining NextPart, Mr. Wadlin spent six years with Caterpillar, Inc. Mr. Wadlin held a number of positions at Caterpillar including Sales Manager of a power systems division, Sales Engineer, and Project Engineer.

Patrick K. Callahan. Mr. Callahan will receive his Master of Management degree in June 2000 from J.L. Kellogg Graduate School of Management. He also holds a B.S. degree in mechanical engineering from Lafayette College. Prior to joining NextPart, Mr. Callahan worked at Kimberly-Clark Corporation in its Infant Care Sector where he was an Asset Leader/Training Team Leader and Operations and Facilities Engineer.

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