Copart Becomes Exclusive National Provider for Major Insurance Company

FAIRFIELD, Calif.--Copart, Inc. , a leading online vehicle auction, announced today Allstate Insurance Company has selected Copart as its exclusive national provider of vehicle sales and auction services.

“We believe that Copart's proven method of auctioning vehicles provides us with the best opportunity to maximize our salvage results.”

The efficiencies of Copart’s auction model and its global buyer base spanning more than 100 countries set Copart apart as a leading and innovative vehicle auction company.

“We chose Copart because of its proven track record in meeting the needs of our customers and assisting us in realizing our strategic objectives,” said Bill Daly, Allstate’s assistant vice president of auto claims. “We believe that Copart's proven method of auctioning vehicles provides us with the best opportunity to maximize our salvage results.”

In addition to the United States, Copart will also be the exclusive provider of vehicle auction services for Allstate in Ontario, Canada.

“We are excited that Allstate has selected Copart to be its exclusive national provider of vehicle sales and auction services,” said Copart President Jay Adair. “This agreement with Allstate further establishes Copart’s VB2 online auction model, which to date has sold more than seven million vehicles.”

Copart, founded in 1982, provides vehicle sellers with a full range of services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters, and in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its proprietary VB2 technology.

Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships, the general public, and others. The company currently operates 153 facilities in the United States, Canada, and the United Kingdom. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made.

Copart recently enhanced its website to make it easier for everyone to search for and view more than 50,000 vehicles each day offered at www.copart.com. Public buyers can also now purchase cars at Copart either directly or through independent third-party brokers.

FORWARD LOOKING STATEMENTS:

This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding expectations with respect to the agreement between Allstate and Copart. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “management's discussion and analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.