Insurance Auto Auctions Announces Opening of Greenfield Facility in Jacksonville, Florida

WESTCHESTER, Ill.--May 9, 2005--Insurance Auto Auctions, Inc. , a leading provider of automotive salvage and claims processing services in the United States, today announced the opening of a new greenfield facility in Jacksonville, Florida. This new 10-acre facility will provide needed coverage in the northern part of the state and will leverage IAA's existing Florida locations in Orlando and Tampa. The new facility will also improve IAA's regional coverage, complementing another existing location in Atlanta, Georgia. Furthermore, in addition to the live physical auctions that will be conducted, the Company's live auction Internet bidding technology, I-bid LIVE(sm), has been fully installed and will be operational at this new location.

"This new facility fills a gap in coverage within the Southeast region, allowing us to recognize new opportunities in this under penetrated market," said Tom O'Brien, CEO of IAA. "We will continue to target new branch opportunities, either through greenfields or acquisitions, which complement our existing geographic footprint and enable us to provide better service for our current and potential customers."

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 79 sites across the United States.

Safe Harbor Statement

This Report contains forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. In some cases, you can identify forward looking statements by use of words such as "may, will, should, anticipates, believes, expects, plans, future, intends, could, estimate, predict, projects, targeting, potential or contingent," the negative of these terms or other similar expressions. The Company's actual results could differ materially from those discussed or implied herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's annual report on Form 10-K for the fiscal year ended December 26, 2004 and subsequent quarterly reports. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, the Company undertakes no obligation to publish, update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

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

Want more information? Search the web!

Search The Auto Channel!

Search 1,043,125 pages