About

NEWS     Contact:
For Immediate Release     Andrew Vitek
                                 Andrew.vitek@wachoviasec.com
February 14, 2008     Office:     800-223-7053
    Cell:     215-514-5812



The Need for Speed Provides Hope for Those in Need


PHILADELPHIA – Can a business dedicated to helping others succeed in the ruthless environment of Internet auctions?  Two Philadelphia entrepreneurs believe it can, and they launched GoFast Auctions for just that purpose.
    Roy Maloumian and Andy Vitek wanted to do more to help abused women and children in the United States, and rather than make a single contribution to a specific charity, they created a business to support a trust fund that will eventually provide grants to multiple charitable organizations.
    Best of all, they managed to draw on their love for sports cars to do it.  Maloumian and Vitek first met at the Bertil Roos racing school, and they’ve been close friends ever since.  It was Vitek’s website site that would eventually combine their mutual passion for fast cars and helping others.
    “I created GoFast Classics in 2002 to help my friends and I trade vintage cars and parts,” Vitek explains, “Then Roy and I thought it would be a great idea to expand the vision to any fast vehicle and create a trust fund with 20 percent of the profits dedicated to assisting abused women and children.”
    The site relaunched in 2005 with a new mission and new name, “GoFast Auction.”  The star of Dream Car Garage, Peter Klutt, has since been promoting the site while he drives the racing circuit in a 1969 big-block Corvette brandishing the GoFast Auction logo.  He also plugs the site on the SPEED Channel Network that reaches almost 73 million households.  
    Klutt’s contribution to the effort is expected to substantially improve the site’s prospects.  There are now 3,500 active members and daily unique visitor traffic has rocketed to 3,000 per month.
    Membership at the site is free, so Maloumian and Vitek are counting on parts sales and advertising fees to bolster the bottom line.  As public interest and reciprocal linking agreements continue to grow, the prospects for lending assistance to abused women and children improve.
    “We’ve put a lot on the line to make this happen,” Maloumian says.  “The investment of time and money has been substantial, but we’re gratified that so many of our colleagues have supported us.  This is a winning idea whose time has come.”
    Now people looking to indulge their penchant for fast cars and their inclination to help others have a home on the Internet.  For women and children in need, help is virtually around the corner.

###

GoFast Auctions is an independently owned and operated website offering an online venue for the classic car and related accessories market since its 2005 relaunch.  The site is specifically designed to accommodate vintage auto enthusiasts by providing an exclusive community of members from around the world to share their devotion to the art of classic car trading.  Proceeds from the site will benefit charities supporting abused women and children.

Roy Maloumian has been a vintage car collector since age 16 and races with the Vintage Sports Club Car Club of America.  As the owner of Maloumian Rugs in the Mount Airy neighborhood of Philadelphia, he turned a small rug cleaning and restoration service established by two earlier family generations into an international manufacturing and importing business with 14 retail outlets across the United States.  

Andy Vitek was the youngest member of the American Motorcycle Association when he joined at the age of five, and he bought his first vintage car while attending the seventh grade.  His favorite part of administering Go Fast Auctions has been interacting with fellow auto enthusiasts around the world.  Andy currently serves as a Vice President at Wachovia Securities.