PartsBase.com, Inc. Reports Shareholder Complaint

Apr 19, 2001, 01:00 ET from PartsBase.com Inc.

    BOCA RATON, Fla., April 19 /PRNewswire/ --
 PartsBase.com Inc. (Nasdaq:   PRTS) today reported that a complaint has been
 filed in a purported securities class action against the Company, certain of
 its current and former officers and directors, as well as against the
 Company's underwriters of its initial public offering.  The complaint alleges
 violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 an
 alleges the Company's March 2000 registration statement misrepresented and
 failed to disclose matters related to the Company's business operations and
 membership sales.  The lawsuit seeks damages and certification of a class
 consisting of purchasers of the Company's common stock in the offering during
 the period from March 22, 2000, through April 25, 2000.  The Company believes
 that the allegations are without merit and intends to vigorously defend this
 action.  Nevertheless, an unfavorable resolution of this lawsuit could have a
 material adverse effect on the Company in one or more future periods.
 
     About PartsBase.com Inc.
     PartsBase.com is an online provider of Internet business-to-business
 e-commerce services for the aviation industry, whose global e-commerce
 marketplace provides a means for its members to buy and sell new, used and
 overhauled aviation parts and products in an efficient, competitive and cost-
 effective manner.
 
     This release contains certain forward-looking statements that are made
 pursuant to the safe harbor provisions of the Private Securities Litigation
 Reform Act of 1995.  Forward-looking statements involve known and unknown
 risks and uncertainties, which may cause the Company's actual results in
 future periods to differ materially from forecasted results.  A number of
 factors, including those identified below, could adversely affect the
 Company's ability to obtain these results: available capital to continue to
 support and further expand the Company's operations, the Company's ability to
 acquire adequate inventory and to obtain favorable pricing for such inventory,
 competitive pricing for the Company's products and services, increased
 competition in the aircraft spare parts redistribution and MRO markets, the
 ability to consummate suitable acquisitions, the continuing ability to
 effectively integrate acquisitions, economic factors which affect the aviation
 industry, and changes in government regulations.  Certain of these risks are
 described in the Company's filings with the Securities and Exchange Commission
 (SEC).  Copies of the Company's SEC filings are available from the SEC or may
 be obtained upon request from the Company.  The Company does not undertake any
 obligation to update the information contained herein, which speaks only as of
 this date.
 
 

SOURCE PartsBase.com Inc.
    BOCA RATON, Fla., April 19 /PRNewswire/ --
 PartsBase.com Inc. (Nasdaq:   PRTS) today reported that a complaint has been
 filed in a purported securities class action against the Company, certain of
 its current and former officers and directors, as well as against the
 Company's underwriters of its initial public offering.  The complaint alleges
 violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 an
 alleges the Company's March 2000 registration statement misrepresented and
 failed to disclose matters related to the Company's business operations and
 membership sales.  The lawsuit seeks damages and certification of a class
 consisting of purchasers of the Company's common stock in the offering during
 the period from March 22, 2000, through April 25, 2000.  The Company believes
 that the allegations are without merit and intends to vigorously defend this
 action.  Nevertheless, an unfavorable resolution of this lawsuit could have a
 material adverse effect on the Company in one or more future periods.
 
     About PartsBase.com Inc.
     PartsBase.com is an online provider of Internet business-to-business
 e-commerce services for the aviation industry, whose global e-commerce
 marketplace provides a means for its members to buy and sell new, used and
 overhauled aviation parts and products in an efficient, competitive and cost-
 effective manner.
 
     This release contains certain forward-looking statements that are made
 pursuant to the safe harbor provisions of the Private Securities Litigation
 Reform Act of 1995.  Forward-looking statements involve known and unknown
 risks and uncertainties, which may cause the Company's actual results in
 future periods to differ materially from forecasted results.  A number of
 factors, including those identified below, could adversely affect the
 Company's ability to obtain these results: available capital to continue to
 support and further expand the Company's operations, the Company's ability to
 acquire adequate inventory and to obtain favorable pricing for such inventory,
 competitive pricing for the Company's products and services, increased
 competition in the aircraft spare parts redistribution and MRO markets, the
 ability to consummate suitable acquisitions, the continuing ability to
 effectively integrate acquisitions, economic factors which affect the aviation
 industry, and changes in government regulations.  Certain of these risks are
 described in the Company's filings with the Securities and Exchange Commission
 (SEC).  Copies of the Company's SEC filings are available from the SEC or may
 be obtained upon request from the Company.  The Company does not undertake any
 obligation to update the information contained herein, which speaks only as of
 this date.
 
 SOURCE  PartsBase.com Inc.