Insurance Auto Auctions Acquires Permian Basin Salvage Pool in Odessa, Texas

Business Wire, Feb 2, 2007

WESTCHESTER, Ill. -- Insurance Auto Auctions, Inc., a leader in automotive and specialty vehicle auction services in the United States, today announced the purchase of Permian Basin Salvage Pool in Odessa, Texas. This centrally-located 10-acre facility will position IAA to more fully serve the growing demands of clients across a vast area of West Texas. The facility has been equipped with an indoor Run & Drive([R]) auction, plus ample private office space for the needs of insurance personnel. The site is IAA's 8th operating auction center in Texas and complements existing market coverage in El Paso to the West, and Dallas/Ft. Worth to the East. Computer systems at the facility have been linked to the I-bid LIVEsm portal to enable real-time Internet bidding from buyers across the country and around the world beginning with the first auction under the IAA name.

"Opening an auction center in this region will help us deliver consistent, quality services to our vehicle providers throughout the entire state of Texas," said Tom O'Brien, CEO of IAA. "In addition, we are confident the I-bid LIVE bidding platform will bring even more buyers to the auction creating an ideal environment for clients to optimize returns on their vehicles. We look forward to adding additional sites like this in other parts of the country where the additional location will better serve the needs of our vehicle providers."

About Insurance Auto Auctions

Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 98 sites across the United States.

Additional information about Insurance Auto Auctions, Inc. is available on the World Wide Web at www.iaai.com