LeaseTrader Announces the Launch of LeaseTrader.com En Espanol

    HALLANDALE, Fla.--June 11, 2001--LeaseTrader.com, the automobile leasing marketplace today announced the launch of LeaseTrader.com en Espanol. LeaseTrader's patent pending solution addresses the needs of consumers looking to get out of their current auto lease, take-over a short-term lease, or lease their next new vehicle.
    LeaseTrader.com is the first online automotive service site to serve the 35 million U.S. Spanish speaking community. With a current purchasing power of over USD $400 billion, the U.S. Census estimates by 2002, Hispanics will replace African Americans as the largest minority group. By 2025, the projected size of the U.S. Hispanic population will grow to 61 million, two times the size of today's market.
    "A key element in our success is our focus on creating and executing a greater consumer experience. By offering our solution in Spanish and English we are adding a comfort level to many of our current and future Spanish-only and Spanish-Preferred leasing clients," explained Ariel Stiberman, the Company's President & Chief Operating Officer.
    LeaseTrader's patent pending process offers consumers trapped in their auto leases a cost effective and secure way to transfer their lease to individuals seeking short-term lease opportunities. Individuals and Corporations looking to get out of their lease(s), post their lease and vehicle information online at LeaseTrader.com (http://www.LeaseTrader.com) and are connected with consumers looking to take-over those leases. The Company then provides tools and services to facilitate and enhance the leasing experience.
    Automobile leasing reached $83 billion in the United States in 1999. Leasing accounts for one out of every three vehicles sold in the US. In some luxury brands, the number rises to seven out of very ten vehicles sold. LeaseTrader.com, along with its partners, is positioned to become the leader in this explosive new sector of the automotive industry.
    The Company has filed a patent application with the United States Patent and Trademark Office.