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Business Services Industry

Joseph Park Promotes Gerry Burdo to President and Acting CEO of Kozmo.com to Lead Company During Next Wave of Growth

Business Wire, July 19, 2000

Business & Internet Editors

NEW YORK--(BUSINESS WIRE)--July 19, 2000

Kozmo.com, the leader in e-mmediate, Internet-to-door delivery services, announced today that Joseph Park has promoted Gerry Burdo to President and Acting Chief Executive Officer to lead the company during its next wave of growth. Burdo had served as Chief Financial Officer of Kozmo.com since November 1999, and before that, had served as Principal Financial Officer of Ethan Allen Inc. Park had served as CEO of Kozmo.com since its inception and will continue his work as Chairman of the Board.

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Park said, "Since its inception, Kozmo.com has focused on developing a passionate customer base around the nation. We are lucky to be growing faster than I could have ever imagined, and I am thrilled with our accomplishments. Now is the ideal time for Kozmo.com to be led by someone equally obsessed with serving our customers and serving the bottom line. Gerry is an outstanding, disciplined manager who wants to keep adding to the customer experience, and I am pleased that he accepted my offer to become President and Acting CEO. He is surrounded by a world class management team that has the experience to execute our strategy for efficient and continued growth."

"We are on a fast and disciplined track to profitability in all of our markets -- without slowing the exponential growth we've experienced on the top line," said Burdo. "Our enthusiastic customers are the reason for our success to date, and we will be working every day to earn their continued loyalty."

Under Park's leadership, Kozmo.com expanded to 10 markets, gained 300,000 customers and raised more than $250 million in capital. He hired a management team with expertise from FedEx, UPS, Wal-Mart, Target, the Gap and other leading fulfillment and retailing companies and developed strategic relationships with Amazon.com, Starbucks, Columbia TriStar, Warner Bros. and Ticketmaster.

"Joseph is a tremendous visionary who is helping redefine convenience for consumers all over the country," added Burdo. "I look forward to continuing to work with him to build on his many accomplishments and am grateful that his strategic abilities will be integral to the future of our company."

About Kozmo.com

Since its inception in 1997, Kozmo.com (www.kozmo.com) has revolutionized the online shopping experience by combining the promise of the Internet with the convenience of e-mmediate delivery. We provide instant gratification by delivering thousands of items from our web site to our customers in under an hour: videos, DVD's, CD's, books, magazines, meals, snacks, drinks, electronics, home essentials and health and beauty aids. Backed by a nationwide distribution network of dedicated employees, and guided by a proprietary fulfillment system developed by our own engineers, Kozmo now serves 10 cities: Atlanta, Boston, Chicago, Houston, Los Angeles, Portland, San Francisco, Seattle, Washington, D.C and our hometown of New York.

Business Services Industry

Joseph Park Promotes Gerry Burdo to President and Acting CEO of Kozmo.com to Lead Company During Next Wave of Growth

Business Wire, July 19, 2000

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