Veteran Auto Exec To Run Online Wholesale Auto Auction.

    SCOTTSDALE, Ariz.--April 18, 2001--ZapCar Inc. Wednesday announced that it has hired Barry Schneble, long-time automotive industry executive, to the position of president and chief executive officer of the new online start-up for the wholesale automotive remarketing industry.
    Schneble comes to the position with 30-plus years of senior management posts in the car rental industry; the most recent heading up fleet operations for Team Rental Group, the eventual purchaser of the Budget Car Rental Systems in 1997. Schneble also held executive positions with Avis Rent a Car Systems and a National Car Rental franchise, and has owned and operated his own real estate venture.
    Ken Wilson, chairman of ZapCar, remarked, "We are very pleased to have a seasoned executive like Barry Schneble heading the ZapCar initiative. The auto remarketing industry is now becoming aware of the Internet's capability to revolutionize the industry, and ZapCar is ideally placed to meet that market opportunity.
    "His strong leadership, prodigious automotive industry experience, and tremendous insight into the remarketing community will give ZapCar a remarkable edge as it moves towards completing its business plan and preparing for service launch later this year."
    Schneble stated, "I am impressed with the clear vision that the ZapCar staff have of the unique timing and business opportunity confronting the industry. It is a particularly dramatic time of change and transition within the industry, and ZapCar is ideally placed to become a major player in this new and profitable space."

    About ZapCar

    ZapCar is an Internet-based interactive auction system for wholesale trading of pre-owned, off-lease, and off-rental automobiles.
    In addition to providing a dynamic online marketplace for auto dealers, ZapCar's emphasis on wholesale transactions opens ZapCar's client base to the major suppliers of this industry, including auto manufacturers, rental car companies, and financial institutions returning off-lease vehicles to the resale market.
    ZapCar has already completed its basic dealer-to-dealer Internet site, and is currently working with major mass wholesalers to complete the design features necessary to offer an unmatched variety of online auto auction formats and services.
    For information about ZapCar, visit our Web site at www.zapcar.com. ZapCar is located at 6220 E. Thomas Rd., Suite 300, Scottsdale, AZ 85251. Contact us at 480/663-8989, ext. 203.