ANC Rental Corporation To Remarket Alamo and National Rental Cars Online Via Autodaq Corporation's Open Auction

    Business Editors, Automotive & High-Tech Writers

    FORT LAUDERDALE, Fla. & MENLO PARK, Calif.-- March 15, 2001--ANC Rental Corporation , parent of Alamo Rent A Car and National Car Rental, and Autodaq Corporation, a leading business-to-business e-commerce automotive and remarketing company, announced today that they have signed an agreement to remarket Alamo and National rental cars via Autodaq Corporation's online Open Auction.
    Michael B. Schmidt, ANC Rental Corporation vice president - fleet, said, "We've recently been increasing the percentage of 'risk' vehicles in our Alamo and National rental car fleets. To help remarket this greater number of vehicles faster and at lower cost, we looked to augment our traditional remarketing channels with an Internet channel. We found that the Autodaq system was easy to use and exposes our vehicles to a large number of prospective buyers, particularly in the Southeast and on the West Coast where we have our strongest remarketing presence."
    Adam Boyden, Autodaq president and CEO said, "We're pleased that ANC Rental Corporation, one of the top names in the rental car business, has chosen the Autodaq Open Auction as an Internet remarketing channel for its vehicles. Based on the success of our brief pilot program with Alamo and National cars, it's safe to say that these vehicles are proving to be highly sought after by dealers in our online auction."
    ANC Rental Corporation, headquartered in Fort Lauderdale, is one of the world's largest car rental companies with annual revenue of approximately $3.5 billion in 2000. ANC Rental Corporation, the parent company of Alamo and National, has more than 3,000 locations in 69 countries and employs approximately 19,000 associates worldwide.
    Autodaq Corporation (www.autodaq.com) is an automotive remarketing company that provides the infrastructure and technology to facilitate the business-to-business trade of used cars on the Internet, as well as professional remarketing services that include remarketing management, lease maturity management and sales and leadership training. Autodaq services significantly reduce costs, increase profitability, and improve operational efficiency for financial institutions, auto manufacturers, and other fleet, lease and rental car operators, as well as franchised, independent, and Internet-based auto dealers and wholesalers. Based in Menlo Park, Calif., Autodaq is a privately held company; its investors include August Capital, Madison Dearborn Partners, Zilkha Ventures, Clayton Venture Group and several angel investors from the Internet and automotive industries.

    SOURCE: Autodaq Corporation