iBidMotors Continues Fast Track Growth with Acquisition of MonsterMotors.com

Combined Company is The Largest Exclusive Dealer to Consumer Online Auction Site

BASKING RIDGE, N.J., May 12 -- iBidMotors (www.iBidMotors.com) announced today that it has completed its acquisition of Monster Motors, a leading automotive online auction site. The expanded iBidMotors platform now has hundreds of car dealer clients and over 30,000 vehicles available to consumers from coast to coast.

iBidMotors and Monster Motors both launched in 2006, with iBidMotors focusing primarily on the Eastern United States, while Monster Motors focused on dealers primarily in the Midwest and Western parts of the country.

"The completion of this acquisition represents a significant step for iBidMotors in our strategy to expand our geographic footprint and establish ourselves as the leader in the rapidly growing online platform for car dealers," said Bob Schiff, iBidMotors Founder and CEO.

Dan Enright, Monster Motors President, will be joining the iBidMotors management team as its new Chief Operating Officer. Bob Schiff continued, "We welcome Dan's proven expertise, and look forward to expanding our dealer participants, growing our inventory even more and offering more online buying choices for consumers. We are extremely pleased to have Dan on our team."

Auto shopping consumers visit iBidMotors.com, complete a simple registration and then search or browse through the vehicles on the site. Participating dealers post late model vehicles, certified pre-owned cars, and a good volume of luxury vehicles like Jaguar, Lexus, Aston Martin, Porsche, Mercedes-Benz, Maserati and others.

Over the past two years the iBidMotors.com online auction has sold over $100M in retail automotive sales, making them one of the fastest growing automotive sites and the platform of choice for some of the largest dealer groups in the country.