Insurance Auto Auctions Announces Share Repurchase Plan

12 September 2000

    SCHAUMBURG, Ill., Sept. 11 Insurance Auto Auctions, Inc.
, a leading provider of automotive salvage and claims processing
services in the United States, today announced it had received approval from
its Board of Directors for a share repurchase program initially authorizing
the Company to buy up to 1,500,000 shares of its common stock.
    Under the plan, the Company may purchase common stock in the open market
as conditions dictate.  The amount and timing of any purchases will depend
upon a number of factors, including the price and availability of the
Company's shares and general market conditions.  The shares of common stock
will be kept as treasury shares and will be used for general corporate
purposes.
    "Following the company's third quarter earnings warning, the Board of
Directors wanted to be in a position to take advantage of attractive stock
prices by approving a share repurchase plan," commented Christopher Knowles,
CEO.  "Approval of the plan reflects the Board's confidence in the future of
the company and balances the company's capacity for leverage with its capital
needs for acquisitions and other growth."