OPENLANE to Host Second Annual Canadian Consignors Summit

Business Wire, Oct 6, 2008

Legendary National Hockey League Coach Scotty Bowman to Deliver Keynote Speech

TORONTO -- OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced that it will host its second annual Canadian Consignors Summit this Wednesday, Oct. 8 from 8:30 a.m. - 4:30 p.m. at the Park Hyatt in downtown Toronto. The summit is designed for automotive consignors to learn more about online opportunities within the automotive remarketing industry.

OPENLANE's wholesale online auction in Canada, www.onlane.com, provides consignors nationwide with a more time- and cost-efficient way to sell their wholesale used vehicles. OPENLANE's Consignor Summit is the perfect forum for attendees to hear from industry leaders how to incorporate an online remarketing strategy into their businesses, as well as discuss how current auto remarketing trends are affecting the state of the industry in Canada.

"Last year's inaugural OPENLANE Consignor Summit was such a success because it provided a refreshing opportunity to focus on both the business challenges and opportunities facing Canadian remarketers. In a challenging economy, this Summit provides consignors with a unique opportunity to share ideas and best practices, as well as network with other remarketing professionals," said Rob Hodge, remarketing manager, BMW Group Canada. "I'm excited to take part again in OPENLANE's Consignor Summit this year and applaud OPENLANE for hosting such a valuable event."

OPENLANE is also pleased to present retired National Hockey League head coach and record-holder Scotty Bowman as this year's keynote speaker. Bowman was named the "Best Coach Ever" in North America by Sports Illustrated and a recent ESPN poll ranked him as "One of the Top 10 Greatest Coaches of the 20th Century." Bowman will speak on his own personal experiences with success and failure, as well as how he has dealt with change and adversity throughout his career as a hockey coach.

"OPENLANE has created a uniquely Canadian flair to remarketing," said Dino Casanova of Audi Canada. "They have created a solid precedent by having leading market executives speak to their respective areas of expertise and share best practices with the audience. Further, what a great opportunity to be among peer executives who understand the ever changing challenges we encounter each day in the way we remarket vehicles."

OPENLANE President Clive Kinross will kick off the event with a discussion on how to take advantage of online channels to remain competitive in a challenging market. In addition, OPENLANE's Chief Financial Officer, Peter Kelly, and Vice President of Analytics, Nagi Palle, will speak on open sale statistics, trends and vehicle redistribution.

Other presentations include:

* Dave Sudbury of Honda Financial Services, speaking on lessee purchases, grounding and auction sales;

* Paul Antony of CarProof, discussing how to best utilize data found in CarProof vehicle history reports;

* Rob Hodge, of BMW Financial Services, discussing innovation in times of adversity;

* A dealer panel, including Andrew Marchand of Performance BMW/Mini St. Catherines, Bob Redinger of Ready Honda, Scott Davidson of Stop 23 Auto Sales Limited, and Larry Wright of Wright Auto Sales will discuss the opportunities and challenges facing automotive dealers.

"In light of the current economy, the Canadian Consignor Summit provides our customers and other industry professionals with the opportunity to gather to address the challenges the automotive industry is currently facing. In such a time, we're also honored to have the opportunity to have a decorated coach and mentor like Scotty Bowman come speak to our consignors about strength in the face of adversity," said Kinross. "Last year's inaugural event was an informative and productive session on automotive remarketing trends and the state of the industry in Canada, and we anticipate this year's summit to continue to build on last year's success."

For more information, please visit www.openlane.com.

About OPENLANE

OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada. OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, Chase Auto Finance, Chrysler Financial, Ford Motor Credit, Porsche Financial Services, Volkswagen Credit, among others. For more information, please visit www.openlane.com or call 1 (866) 969-0321.

Editor's Note: Please note OPENLANE is spelled in all capital letters.