Insurance Auto Auctions

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Insurance Auto Auctions and Verastar

Insurance Auto Auctions, Inc., a leader in automotive total loss
and specialty salvage services in the United States, today announced
that it has entered into a definitive agreement to acquire Salvage
Disposal of Georgia and Auto Disposal of Nashville, and related
entities. Salvage Disposal and Auto Disposal currently operate under
the name "Verastar" in multiple locations which include five auction
sites in Georgia, two in Kentucky, three in Tennessee and one in North
Carolina. The acquisition, which shall include all of the Verastar
operations, is the second largest transaction in IAA's 26 year
history. The newly acquired auction sites play a strategic role in
IAA's expanding geographic service coverage in the Southeast. The new
sites, complemented by existing IAA facilities in surrounding states,
will allow IAA to further improve its comprehensive remarketing
services coverage throughout the entire United States.

Insurance Auto Auctions Launches Its Vehicle Remarketing Division

Insurance Auto Auctions, Inc. the leading North American salvage auto auction company today announced the launching of its Vehicle Remarketing Division. Designed to better serve the particular needs of institutional sellers and dealers; IAA's Vehicle Remarketing Division works directly with vehicle sellers ranging from national rental car companies to vehicle financing institutions and local used car dealers. The Vehicle Remarketing Division offers sellers a single point of contact to sell vehicles through IAA's 151 locations.

Insurance Auto Auctions Announces Opening of New Location in Reno, Nevada:

Insurance Auto Auctions, Inc. the leading North American salvage auto auction company today announced the opening of its newest location in Reno, Nevada which will serve to expand market coverage in the West-Central portion of the country. In addition, the location will enhance IAA's service to both vehicle provider and buyer clients in this area.

The Reno facility provides significant additional acreage of vehicle storage and will hold weekly auctions on Tuesdays. The new facility will decrease towing charges for vehicle providers in the targeted areas of eastern California and north-western Nevada. Buyers will have access to additional auctions and inventory each week through the industry's best performing auction model, IAA's hybrid design, which combines live physical auctions with live internet bidding.

"With each new facility we increase our service and commitment to our customers," stated Tom O'Brien, CEO. "The Reno facility provides additional coverage and convenience in addition to supporting IAA's goal of focused, customer-driven expansion."

ABOUT INSURANCE AUTO AUCTIONS

Insurance Auto Auctions, Inc. is leading the salvage auto auction industry in North America by providing the largest facility footprint, strongest buyer base and highest selling returns. IAA's exclusive focus on the salvage auto auction industry and 150 corporate owned facilities across the United States and Canada provides suppliers and buyers with the best solution to process and acquire total-loss, recovered-theft, fleet lease and rental vehicles. The company's hybrid auction model, including live, internet and proxy bidding, united with their mature buyer base and diverse inventory produce record setting returns. With over 25 years in the industry, IAA holds the most comprehensive warehouse of salvage auction data. For more information regarding IAA, please visit our website at www.iaa-chicago.org.

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