Insurance Auto Auctions Acquires Salvage Management of Syracuse

WESTCHESTER, Ill.--Aug. 1, 2006--Insurance Auto Auctions, Inc., a leader in automotive total loss and specialty salvage services in the United States, today announced the purchase of Salvage Management of Syracuse (SMS) in Cicero, NY. The 20-acre facility includes a large warehouse for indoor inspections and the Run & Drive(R) auction, plus ample private office space for the needs of insurance personnel. The site is IAA's fourth location in New York and will allow IAA to more effectively serve the central New York market with the support of existing facilities in Buffalo, Rochester and Long Island. IAA will implement the Run & Drive auction in Syracuse for its on-site buyers and the facility will be linked to the popular I-bid LIVE(sm) portal to enable real-time Internet bidding from buyers across the country and around the world.

"This acquisition was a perfect fit due to SMS's experienced staff and their focus on innovation aimed at improving customer service and returns. It will allow IAA to introduce our dual bidding strategy to even more buyers across the Northeast and the rest of the U.S., leading to continued growth in our buyer base and higher returns for our insurance company suppliers," said Tom O'Brien, CEO of IAA. "We continue to see demand grow at our facilities - both in person and with our online bidders - and have seen record returns for our suppliers. Our average selling prices have consistently surpassed previous all-time highs, demonstrating the power of our service offering that is second to none in our industry. Going forward, we will continue to pursue both acquisition and greenfield opportunities in order to further strengthen our national presence."

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 95 sites across the United States.

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

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