Insurance Auto Auctions Acquires Joe Horisk's Salvage Pool in Delaware

Business Wire, May 12, 2008

WESTCHESTER, Ill. -- Insurance Auto Auctions, Inc., a leader in automotive total loss and specialty salvage services in North America, today announced the acquisition of Joe Horisk's Salvage Pool in Newcastle, Delaware. The acquisition extends IAA's footprint in the Northeast and provides additional regional coverage to IAA's vehicle providers in this important market. The facility features a yard capacity of over 2,000 vehicles and will provide buyers with a greater overall product selection and another convenient location from which to purchase vehicles either in person at the live auction, or soon through I-bid LIVEsm.

"We are pleased to add the Newcastle auction facility and look forward to providing auction services there that will cover the entire state of Delaware and the surrounding communities in Pennsylvania and Maryland," said Tom O'Brien, President and CEO of IAA. "This acquisition is a result of our ongoing effort to expand our presence in markets where we can better serve the needs of our vehicle providers. In addition, introducing I-bid LIVE, which combines live physical auctions with live auction internet bidding, in Delaware, will provide our expanding buyer base with an even larger product selection that will further strengthen our ability to attract buyers and continue generating the highest salvage returns in the industry."

About Insurance Auto Auctions

Insurance Auto Auctions, Inc., founded in 1982, is a leading automotive total-loss and specialty salvage remarketer in North America. It provides insurance companies, financial institutions and rental companies with cost-effective, turnkey solutions to process and sell total-loss, recovered-theft, fleet lease and rental vehicles. The Company currently has 137 sites across the United States and 12 in Canada which operate under the name of "Impact Auto Auctions."

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