Autobytel Provides Additional Information Relating to Its Tax Benefit Preservation Plan

IRVINE, Calif.--Autobytel Inc., today provided additional information regarding its Tax Benefit Preservation Plan which the Company's board of directors adopted last month. The Plan was adopted to protect stockholder value by seeking to preserve the Company's substantial net operating loss carryovers and other tax attributes for United States federal income tax purposes that can generally be used to offset future taxable income and therefore reduce federal income tax obligations. These Tax Benefits would be substantially limited if there was to occur an ownership of Autobytel as defined in Section 382 of the Internal Revenue Code

The Board determined to adopt the Plan following a period of unusually high trading volume in the Company's stock in May 2010 that highlighted concerns that an "ownership change" as defined under Section 382, could occur unless prompt action was taken to prevent such an event. This concern was also raised by certain significant stockholders of the Company in discussions with the Company's management. Autobytel intends to submit the Plan to a vote of stockholders at the 2011 annual meeting of stockholders. If the Plan is not approved at that meeting, it will terminate at the end of the calendar month in which that meeting is held. For a more complete description of the Plan, please see the Company's Report on Form 8-K, filed with the Securities and Exchange Commission on June 2, 2010.

About Autobytel

Autobytel Inc. provides online consumer leads and marketing resources to auto dealers and manufacturers, pioneered the automotive Internet when it launched autobytel.com in 1995.