Autobytel Inc. Completes Acquisition of Autoweb.com

           Combination Accelerates Evolution of Company's Business;
 Creates One of the Largest, Most Diversified Online Automotive Commerce And
                            Information Companies

    IRVINE, Calif., Aug. 15 Autobytel Inc.
today announced that it completed the acquisition of Autoweb.com
.  The acquisition creates one of the world's largest, most
diversified online automotive commerce and information companies providing
auto distributors and manufacturers with marketing, data, technology and
management services to help them sell cars, both online and off.
    "Not only do we expect the combination of our businesses to yield cost
savings and revenue growth; but it will allow Autobytel Inc. to provide
marketing, data, technology and management services that can benefit every
manufacturer and dealership as they seek to increase market share through more
efficient processes," said Mark Lorimer, President and CEO of Autobytel Inc.
"Just as important, we have a dramatically expanded core customer base,
including Autobytel Inc.'s twenty-five manufacturer customers and
approximately 6,000 subscribing dealers."
    Lorimer cited Autobytel Inc.'s unparalleled expertise and success using
the Internet to market cars as the foundation of the company.  He noted that
some of the ongoing strengths of the combined businesses forming Autobytel
Inc. include:

    -- advertising programs used by manufacturers and dealers to target
       customers during the decision making process;
    -- powering manufacturer and portal auto channels with data and tools to
       help customers buy cars;
    -- providing the technology to drive one of the most advanced
       inventory-based manufacturer's online car selling program to date;
    -- generating billions of dollars in car sales for dealers through the
       company's popular websites.

    "There's much more to the online automotive market than the online buying
service model we pioneered and continue to dominate," continued Lorimer.
"With this acquisition, our evolution towards becoming a company that does
business with every player in the automotive industry takes a giant step
forward.  We are well positioned to continue to capitalize on the
opportunities within the business of building and supporting the automotive
distribution and marketing infrastructure."
    He noted that the company's lead referral business is further bolstered by
the acquisition, with small overlap in the dealers and minimal website
audience cross-over(1) between Autobytel Inc.'s four consumer-facing brands.
This offers unique opportunities to both marketers and dealers looking to
reach the broadest car-buying audience.
    "According to Media Metrix, Autobytel Inc. websites are receiving over
three million unique visitors a month(2) and Autobytel Inc. content and
technology has potential exposure to over 90 percent of total web traffic(3),"
said Lorimer.  "Most of the sixty percent of all Americans who go online to
research and shop for a car will likely encounter Autobytel Inc. technology or
content, or an Autobytel Inc. brand, during the process."
    In addition to approving the acquisition, shareholders also approved
Autobytel Inc. as the new name of the expanded company.
    Autoweb stockholders have the right to receive 0.3553 shares of Autobytel
common stock for each share of Autoweb common stock they own.  Outstanding
Autoweb options will be assumed and become options for Autobytel shares,
subject to the share exchange ratio.

    About Autobytel Inc.
    Autobytel Inc. is one of the world's largest, most
diversified online automotive commerce and information companies.  As the
company that owns and operates Autobytel.com, Autoweb.com, Carsmart.com,
Autosite.com, and AIC (Automotive Information Center), Autobytel Inc.'s
mission is to provide marketing, data, technology and management services to
benefit every manufacturer and dealership.  The company powers manufacturer
and portal auto channels with data and tools to help customers buy cars;
provides advertising programs for manufacturers and dealers to target
customers; develops technology to drive one of the most advanced
inventory-based manufacturer's online car selling program to date; and
generates billions of dollars in car sales for dealers through the company's
popular websites.
    Serving approximately 6,000 subscribing dealers and 25 international
automotive manufacturer customers, Autobytel Inc. websites are receiving
approximately three million unique visitors a month(2), and Autobytel Inc.
content and technology has potential exposure to over 90 percent of total web
traffic(3).  It is estimated that the vast majority of the 60 percent of all
Americans who go online to research and shop for a car will encounter
Autobytel Inc. content or technology, or an Autobytel Inc. brand, during the
process.

    (1) Media Metrix July 2001 Digital Media Audience Report (Over 99%
        unduplicated traffic between Autobytel.com, Autoweb.com, CarSmart.com
        and Autosite.com.)
    (2) Media Metrix July 2001 Digital Media Audience Report (Autobytel Inc.
        websites include Autobytel.com, Autoweb.com, CarSmart.com,
        Autoweb.com/Lycos co-branded pages and Autosite.com.)
    (3) Media Metrix July 2001 Digital Media Audience Report (Autobytel Inc.
        provides content to Yahoo.com, AOL websites, MSN.com and Lycos.com.
        The unduplicated audience of these four sites accounts for over
        90 percent of total traffic.)

    The statements contained in this press release that are not historical
facts are forward-looking statements under the federal securities laws.  These
forward-looking statements, including statements about projected revenues and
expense savings, are not guarantees of future performance and involve certain
risks, uncertainties and assumptions that are difficult to predict.  Actual
outcomes and results may differ materially from what is expressed in, or
implied by, such forward-looking statements.  Autobytel undertakes no
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.  Among the important
factors that could cause actual results to differ materially from those
expressed in, or implied by, the forward-looking statements are changes in
general economic conditions, increased or unexpected competition, the failure
to realize anticipated synergies, costs related to the merger, failure of the
combined company to retain and hire key employees, difficulties in
successfully integrating the businesses and technologies and other matters
disclosed in Autobytel's filings with the Securities and Exchange Commission.
Investors are strongly encouraged to review Autobytel's annual report on Form
10-K for the year ended December 31, 2000, and other reports on file with the
Securities and Exchange Commission for a discussion of risks and uncertainties
that could affect operating results and the market price of Autobytel's stock.

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