ATC Launches National Auto Auction Site

MENLO PARK, Calif.--June 5, 2006--AutoTradeCenter, Inc. (ATC), the leading online auction company for automotive dealers to buy and sell wholesale vehicles, today announced the launch of a new and vastly improved online auto auction site, ATC Open, a full-service online marketplace that allows licensed dealers to acquire wholesale vehicles more cost efficiently than physical auctions. With ATC's more than seven years of experience in online remarketing behind it and recognized leadership in captive finance upstream remarketing, ATC Open (www.atcopen.com) delivers the industry's most desirable inventory -- off-lease, late-model, low-mileage vehicles. The newly launched ATC Open will be demonstrated this week in ATC's booth #1200 at the NIADA 2006 Convention in Las Vegas. In addition, ATC announced that from June 5th through July 4th, the company is offering a 30 percent discount off transportation costs on any vehicles purchased on ATC Open.

ATC also announced several new sellers for ATC Open, including Chase Auto Finance, Porsche Financial Services and Dollar Thrifty Automotive Group. By combining these new sellers with the existing ATC institutional sellers like Chrysler Financial, Subaru Leasing, Volkswagen Credit and Enterprise Rent-A-Car, buyers can get access to vehicles sourced nationwide and made available to dealers before they are sent to physical auction or through other channels.

ATC Open was designed specifically to increase dealer confidence in using online auto auctions as a channel and to ensure deals negotiated on ATC Open are fair and accurate. To this end, ATC offers a suite of tools and services tailored to dealers, such as detailed third-party vehicle condition reports; high-resolution photos of cars; Vehicle History Reports; title and payment insurance; and fair arbitration policies.

"Everybody wins with ATC Open," said Mark Jensen, COO, ATC. "It is a fair and open national marketplace providing dealers with a better way of buying wholesale inventory, and providing sellers an opportunity to cost-effectively reach a national audience of qualified buyers. Over 50 percent of all auto manufacturers trust ATC to exclusively operate their online OEM automotive remarketing sites. As the clear leader in online wholesale auto auctions, ATC provides dealers with the confidence, convenience and cost benefits of procuring and disposing of wholesale inventory via the Internet."

ATC Open features the following new capabilities:

-- Any licensed dealer can now sell units on ATC Open, taking advantage of the significant benefits ATC's institutional sellers have already achieved

-- Integration and one click payment with various floor plan providers including Automotive Finance Corporation (AFC), Auto Use and Dealer Services Corporation (DSC)

-- Title and payment insurance to guarantee purchases to be free and clear

-- AutoCheck full Vehicle History Reports included on every dealer consigned unit

ATC Open also features a suite of post-sale services, such as vehicle transport, title processing and payment processing. Now ranked as one of the top three largest transportation brokers in the U.S., ATC has the necessary reach to make moving vehicles from any starting point in the country to any dealership nationwide faster and more efficient than ever before.

"We have used ATC's core technology to power PorscheDrive for two years now," said John Maas, director, Marketing, Porsche Financial Services. "ATC's experience in using the Internet as an auto remarketing channel is unmatched. The company understands what's required to make dealers more comfortable using online auctions as part of their procurement strategy, and then increase their use of that channel over time. While we maintain the focus on our franchise dealers, we didn't hesitate to implement ATC Open as an additional remarketing channel because of our experience with this proven company. We're very confident ATC can deliver a large group of interested, pre-qualified buyers in the ATC Open marketplace to add value to our remarketing process."

iDEAL: Powerful Dealer-to-Dealer Auction Program

ATC Open will also feature a separate program for dealer-to-dealer online auctions called iDEAL (Inter-Dealer Electronic Auction Lane). iDEAL allows any licensed North American dealer to list inventory for sale to a large nationwide network of dealers in order to free up retail space and make better use of capital. By bringing independent and franchise dealers together online, iDEAL is a convenient way to wholesale aged and trade-in inventory, but without needing to physically move it and eliminating the costs, fees, time and effort normally associated with disposing these vehicles.

"ATC Open is constantly introducing fresh, high-quality cars into the marketplace, day and night," said Milton Morad, sales manager, Calabasas Motor Cars, Inc. (Ford franchise dealer), Calabasas, Calif. "I now have access to an incredible inventory sourced from all over the country before they go to physical auction. This gives me a competitive edge over dealers who wait until these cars arrive at auctions. I can find exactly what my customer needs without leaving my dealership."

How to Buy and Sell -- In the Fast Lane

In addition to around-the-clock availability, ATC Open is convenient, cost-efficient and provides easy access to the best inventory. Any dealer or institutional seller with a computer and Internet connection can start using ATC Open by visiting www.atcopen.com and filling out a simple one-page registration form. To access iDEAL, registered sellers simply need to click on the "sell" section on the site and enter the car's vehicle identification number (VIN). The system will then walk the buyer through a few short steps to get the vehicle listed.

About AutoTradeCenter

AutoTradeCenter, Inc. (ATC) is the leading online auction company for automotive dealers to buy and sell wholesale used vehicles. The company offers proven, end-to-end auto remarketing products and services to auto manufacturers, captive finance companies, lease and rental companies, financial institutions and wholesale auto auctions. ATC powers successful online remarketing programs for Audi Financial Services, American Honda Finance, Chase Manhattan Automotive Financial, Daimler Chrysler Financial Services, Ford Motor Credit, Porsche Financial Services, Volkswagen Credit, Enterprise Rent-a-Car, Subaru of America and several others. For more information, please visit www.autotradecenter.com or call +1 (866) 969-0321.