ADESA Names President of New Affiliate

15 October 1998

ADESA Names President of New Affiliate

    INDIANAPOLIS--Oct. 14, 1998--ADESA Corporation, one of the nation's largest providers of wholesale vehicle remarketing services, announced today the appointment of Susan M. Buxton as President and CEO of Professional Auto Remarketing, Inc. ("PAR"). PAR, which was established in 1992 as a department of ADESA will now operate as a separate affiliate of MP Automotive Services, Inc., which is ADESA Corporation's parent company owned by Minnesota Power .
    Under Ms. Buxton's direction, PAR will provide an expanded range of services designed to assist customers in all aspects of vehicle disposition and lease-end processing.
    Services provided by PAR will include transportation, lease-end pickup, repossession, reconditioning and auction selection and sale services. PAR will also provide comprehensive title services and pre-term lease-end processing which is unique in the market.
    Jim Hallett, President and CEO of ADESA, stated, "This change further illustrates our vision for the Automotive Services segment of Minnesota Power. We are much more than an auction company and under Sue Buxton's leadership I am confident that PAR will continue its strong growth into every sector of the vehicle remarketing business while meeting customer needs."
    Ms. Buxton has over 15 years of management experience and has held a variety of positions at Minnesota Power, Inc. before joining ADESA. She holds a Masters Degree in Management from the College of St. Scholastica and has been honored by many organizations for her demonstrated leadership skills.
    ADESA Corporation owns and operates 28 auto auctions in North America and provides transportation, reconditioning, and related services to franchised automobile dealers and licensed used car dealers.
    Minnesota Power, Inc. is a diversified services company with headquarters in Duluth MN. Its four principal businesses include Electric Operations in Minnesota and Wisconsin, Water Services in Florida and North Carolina, Automotive Services throughout North America, and Investments, which includes real estate in Florida. Minnesota Power's common stock is traded on the New York Stock Exchange under the symbol MPL.