iMotors.com — First Online Used Car Retailer — Launches in San Diego

Business Wire, Feb 7, 2000

     Business Editors, Automotive Writers

     SAN DIEGO--(BUSINESS WIRE)--Feb. 7, 2000--

               Like-new cars: Found, Fixed and Delivered

     iMotors.com, the Internet's first and only used car retailer, has
launched its service in San Diego. The expansion comes five months
after iMotors.com premiered its custom-order service in Northern
California and marks a major step in the online company's strategy to
expand nationally this year and become America's premier used car
retailer.
     iMotors represents a new category of online car company. It is
not a referral service, broker or auction site. It carries no
inventory and low overhead, allowing consumers to custom order one to
five-year-old used cars on the Internet. Customers can specify make,
model, year, options and color - and are guaranteed a price lower than
the Kelley Blue Book retail price.
     iMotors' San Diego launch includes the opening of a Delivery
Center at 9460 Mira Mesa, Suite 8P, San Diego, CA 92126, where
customers pick-up their iMotors cars and sign paperwork. iMotors has
opened eight other Delivery Centers in the San Francisco Bay Area,
Sacramento, Los Angeles, and Seattle markets.
     &uot;We had to come to San Diego,&uot; said iMotors.com CEO Adam Simms.
&uot;San Diegans are wired, savvy and they have high standards. We view
San Diego as a key gateway toward our national expansion.&uot;
     iMotor's market entry is coordinated with a major advertising
campaign that broke this week throughout the region. The campaign,
created by Saatchi &Saatchi, San Francisco, includes newspaper,
television, radio and outdoor advertising with the slogan: &uot;You've
never bought a used car like this.&uot;
     Americans buy an estimated 40 million used cars and trucks
annually, nearly twice as many as are purchased new. iMotors is the
first used car retailer to use the Internet to fix what is commonly
viewed as one of the most uncomfortable and risk-prone of purchases.
     &uot;We had to start from scratch and build the business around the
customer's needs - not the traditional used car selling model,&uot; said
iMotors.com president Beth VanStory. &uot;We believe customers shouldn't
have to sacrifice quality, selection or service when they're buying a
used car.&uot;
     iMotors has raised a total $73.3 million in venture capital to
fund its national expansion program and fuel the growth of its
Webvan-like infrastructure. iMotors is succeeding in an Internet
market where customers have the highest standards. &uot;Our mechanics,
service representatives and managers have one simple goal: To exceed
the customer's expectations,&uot; Simms said. Once iMotors gets an order,
it finds the car out of the 1.8 million available nationally, buys it,
then inspects, tests, and certifies the vehicle at the company's
state-of-the-art Vehicle Certification Center near Sacramento and
delivers the vehicle to a local iMotors Delivery Center. Each car
comes with a warranty and money back guarantee as well as a
personalized AutoBiography(SM) Report, offering an unprecedented level
of disclosure about the vehicle's history and the iMotors inspection
process.

     Here's how the iMotors process works:

--   The consumer logs onto www.imotors.com or calls 888-IMOTORS and
     specifies the year, make, model, options, color choices, and
     mileage of the vehicle desired. The customer gets a no-hassle
     quote up front that is hundreds to thousands of dollars less than
     Kelley Blue Book retail price. To secure the order, the consumer
     provides a refundable $250 deposit, signs an iMotors.com Search
     and Locate Agreement, and provides proof of financing.

--   iMotors' expert buyers quickly locate, assess and buy the car
     that meets the customer's specifications and iMotors'
     high-quality standards.

--   The vehicle is shipped to the iMotors Vehicle Certification
     Center where it undergoes an extensive evaluation of its engine,
     power train, accessories, interior and exterior. ASE and
     I-CAR-certified mechanics and technicians use state-of-the-art
     equipment to go beyond many major manufacturers' standards to
     make sure each iMotors.com car is in outstanding mechanical and
     cosmetic condition. The process takes 4 to 5 days.

--   iMotors schedules an appointment at an iMotors Delivery Center,
     where the customer inspects and drives the vehicle and finalizes
     paperwork. The customer receives an AutoBiography(SM) Report, a
     complete history of the car verifying a clean title and accurate
     odometer, and detailing testing, inspecting and any work
     performed at the iMotors facility.

--   The consumer drives away with his or her like-new car - iMotors
     stands behind its work with a 3-month/3,000-mile warranty and a
     7-day/700-mile, no-questions-asked, money-back guarantee.

*T

     About iMotors

     iMotors was launched in September 1999 as the Internet's first
real auto retailer, allowing customers to buy thoroughly tested,
inspected and certified used vehicles entirely online. iMotors is a
privately held company, backed by a renowned group of investors with
successful track records at leading land-based retail and
internet/e-commerce businesses. Investors include Oak Investment
Partners, Global Retail Partners, Trinity Ventures, Vulcan Ventures,
Rosewood Capital Partners, Moore Capital Management, Inc., and
MeriTech Capital Partners. For additional information, visit
www.imotors.com or call 888-IMOTORS (466-8677).

iMotors.com and AutoBiography are service marks of iMotors.com.

Note to editors, reporters: We can set up an interview with a new San
Diego customer - and interviews with Adam Simms and/or Beth VanStory.

     --30--lih/cgo*

     CONTACT:  The Shinoff Group (for iMotors.com)
               Paul Shinoff, Kim Kellogg, Brad Haas, 415/495-1991
               paul@shinoff.com, kim@shinoff.com, brad@shinoff.com

     KEYWORD: CALIFORNIA WASHINGTON
     INDUSTRY KEYWORD: INTERNET E-COMMERCE AUTOMOTIVE TRANSPORTATION