Fixture Perfect International Transitions Name to Davaco

Retail Development Company Reaffirms Commitment to Growing Services to Meet Client Needs

DALLAS - May 1, 2002 - Fixture Perfect International (FPI), a leading provider of turnkey retail development services, today announced the company has been renamed Davaco, a change that stems from the continuous growth of the company's services to meet retailers' increased needs and requirements for outsourcing totally integrated program services. The new name represents the continued evolution of the company as a leading provider of complete retail services and solutions which help retailers maximize brand presence and profitability at retail.

“The company's services have progressed significantly over the years, and evolving the name was the next logical step in the realization of Davaco's strategic goals of continued growth and success,” said Rick Davis, president and CEO. “This is an exciting time for both our customers and our employees. Our clients will continue to achieve a level of success by working with us as we provide them strategic value-added services. This new corporate identity communicates and solidifies our commitment to offering effective outsourcing alternatives to help our customers achieve business results.”

Since its inception as a fixture installation company in 1990 as Fixture Perfect International (FPI), Davaco has expanded its services in pace with the retail industry's increasing needs and requirements for outsourcing. With retailers looking to reduce costs and increase sales, a significant increase in the volume and scope of outsourcing has resulted, fueling Davaco's unprecedented growth of 40 percent each year for the past five years.

“For us, the benefits of outsourcing have been twofold,” explained Jim Tyson, director of corporate purchasing with Pier 1 Imports. “First, turning projects over to experts allows us to focus on other priorities such as consumer satisfaction in our stores. Secondly, outsourcing helps us to reduce our own costs thus freeing up dollars to improve our business elsewhere. Davaco's experience in the retail industry and unique service offerings allow us to reduce our overhead without adjusting timelines or compromising our high standards of quality. Bottom line, we are able to get our stores completed and opened in a short period of time so we can start generating revenue.”

Davaco was inspired by the last name of the company's founder, Rick Davis. An updated visual and brand identity, including an updated logo and website will follow this name change. The company will officially debut its change in identity at the 2002 ICSC Conference in May.

Changing its corporate identity will allow Davaco to more accurately reflect the wide range of services it offers the retail industry and position the company for continued growth into additional service areas to assist retailers with other phases of their business.

“With industry experts leading the way and a nationwide employee network, Davaco will quickly become synonymous with knowledge, efficiency and quality,” commented Davis. “By embracing change, we can continue to evolve as a company and expand our service offerings to meet retailers' increasing outsourcing needs while maintaining the highest degree of quality and efficiency.”