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AutobytelDIRECT Makes 'Click-and-Buy' Car-Buying a Reality

24 January 2000

AutobytelDIRECT Makes 'Click-and-Buy' Car-Buying a Reality

Internet Leader Launches Ultimate Direct-to-Consumer Solution-World's Largest
     Virtual Car Lot With Up-Front Pricing, Extensive Trade-In Solutions,
        Competition-Based Finance and Insurance, and At-Home Delivery

    ORLANDO, Fla., Jan. 24 -- Autobytel.com , the
company that controls nearly 50% of all online car-buying purchases, today
announces a radical change in online car buying that will drive even more car
buyers to http://www.autobytel.com.  AutobytelDIRECT goes live today as the first
coast-to-coast, direct-to-consumer, new-car buying program offering a
real-time, online inventory of thousands of vehicles, instant up-front
pricing, multiple trade-in options, competition-based financing and insurance,
and at-home delivery.
    "Click-and-buy has always been the holy grail of online car buying," said
Autobytel.com President and CEO, Mark Lorimer.  "With AutobytelDIRECT,
click-and-buy is a reality, making buying a car at Autobytel.com as easy as
buying a book at Amazon.com.
    "It has always been our mission to engineer our business from the customer
backwards.  With AutobytelDIRECT, we have created an out-of-dealer experience
for the consumer while at the same time providing our Accredited Dealer
Network with increased opportunities to move inventory and reduce costs at
their stores.  It is a win-win."

    Virtual Car Lot
    Autobytel.com's virtual car lot consists of thousands upon thousands of
pre-priced new cars.  Consumers can search the lot for the exact car they
need, assisted by a variety of easy-to-use filters, such as make, model,
series, engine, transmission and color.
    "Autobytel.com is the only online car-buying program with the
infrastructure to fully implement a true direct-to-consumer sales model.  By
placing actual inventory online, complete with up-front 'street' pricing and
detailed vehicle information, we put control of the purchasing process
directly in the hands of consumers," said Lorimer.
    "Other companies claim to make 'direct' sales over the Internet, but none
have the inventory to actually deliver the promised vehicle within a
reasonable timeframe.  Those so-called 'direct' companies are forced into
calling dealer after dealer to find cars and negotiate prices -- a brokerage
model that promises to fail."
    Autobytel.com already sells approximately 50,000 vehicles per month
through its 3,000+ member Accredited Dealer Network -- about half of the cars
sold online.  AutobytelDIRECT takes advantage of that huge dealer base,
leveraging its inventory, while delivering dealers more sales and saving them
time and money by further reducing salary, commission, marketing and overhead
expenses.

    Visible Pricing
    With AutobytelDIRECT's up-front pricing and coast-to-coast delivery,
consumers can compare prices and shop and purchase from anywhere in the
country.  Dealers no longer have to play expensive guessing games to move
their inventory because they finally have a way to measure what the market
will truly bear.  AutobytelDIRECT helps dealers manage down their sales and
marketing costs.  By outsourcing the closing to AutobytelDIRECT for a fixed
fee, the dealer's cost of sale becomes a flat dollar amount, upwards of $1,000
per unit less than the traditional selling model.

    Customer Care Center
    Working closely with its Accredited Dealer Network, Autobytel.com has
established AutobytelDIRECT to provide peace of mind to consumers who prefer
to have an independent third-party guide them through their purchase.  Once
the consumer has located his/her car of choice, AutobytelDIRECT's Customer
Care Center will facilitate all aspects of the purchase process, including
questions regarding the vehicle, trade-in valuation, financing/leasing,
insurance and final delivery.
    Consumers who would prefer to have the Customer Care Center locate their
vehicle, can do so by configuring or "building" their car on-line.
AutobytelDIRECT will work to quickly locate the consumer's vehicle through its
Accredited Dealer Network.

    At-Home Delivery; At-Home Test Drives
    AutobytelDIRECT will deliver vehicles within a 50-mile radius of the
contributing dealer's location at no charge (except in states that require
dealership delivery).  If the customer is located beyond the free delivery
range, the AutobytelDIRECT Customer Care Center will facilitate delivery
through its relationship with Movecars.com.
    In addition, AutobytelDIRECT will be test marketing a weekend, no-stress
test drive program in a major metropolitan market, with Enterprise Rent-A-Car,
the largest rental car company in North America.  For this test, consumers
will simply choose from a select group of make and models they want to test
drive and request an appointment online.  Enterprise will make arrangements to
pick up the consumer at their home or office for the test drive.  If
successful, the program will be expanded throughout the country.

    Multiple Trade-In Options
    With AutobytelDIRECT, Autobytel.com effectively deals with a consumer's
trade-in.  When purchasing a new car, a key consumer concern is getting fair
value for their trade-in, and, according to NADA, over 40% of new car
purchases include a trade-in.
    At launch, buyers will have the option of selling the vehicle to an
Autobytel.com Accredited Dealer as part of their new car purchase, posting it
on Autobytel.com's consumer auction site or listing it in the Autobytel.com
classifieds.  Additionally, AutobytelDIRECT will offer consumers the
convenience of having their trade-in inspected, digitally photographed and a
warranted report written at their home or office through a relationship with
one of the country's top-rated vehicle inspection services.
    "Our used car and wholesale departments are working to strengthen existing
relationships with wholesalers and auction data providers with the goal of
providing additional trade-in options to consumers," said Lorimer.

    Financing and Insurance
    With AutobytelDIRECT, consumers are not deprived of choice in a financing
company.  Instead, car buyers will be able to choose from among the most
competitive financing available, whether manufacturer financing obtainable
through the AutobytelDIRECT dealer body or competitive financing from up to 16
lenders found in Autobytel.com's Consumer Banking Center.
    Autobytel.com's competitive insurance program will also be available to
AutobytelDIRECT customers.  Utilizing InsureQuote, Autobytel.com gives
customers the ability to comparison shop for insurance from four of the
nation's top automotive insurance providers.

    Service.autobytel.com
    AutobytelDIRECT answers another consumer issue with first generation
direct services: who handles vehicle service and maintenance post purchase?
AutobytelDIRECT offers a comprehensive service and maintenance program
utilizing its Accredited Dealer Network to provide a lasting after-sale car
program that takes the fear and guesswork out of maintaining and servicing
their new vehicle.  Consumers can be confident that they will have highly
trained and skilled technicians servicing their car, while dealers benefit
from the opportunity to do the vehicle service and warranty work.
    "One of the many problems with first generation direct programs is
determining who is accountable when there is a problem with the vehicle," said
Lorimer.  "With AutobytelDIRECT, customers get peace of mind after the sale,
as well as during it."

    AutobytelDIRECT Fees
    The AutobytelDIRECT program will be available to all Autobytel.com new car
dealers at no additional cost.  In most states, upon the completion of a sale,
AutobytelDIRECT dealers will pay fees ranging from $100-$300, depending on the
gross selling price of the vehicle.
    "We have spent nearly five years building our retail knowledge and
infrastructure," said Lorimer.  "No one, and I mean no one, on the Internet
has anything like our experience marrying the intricacies of auto distribution
to the needs of the Internet consumer.  Loud is good on the Internet, but
experience and substance sells cars.  AutobytelDIRECT leaves the rest of the
online buying service pack in the dust and changes the way America buys cars -
Again."

    About autobytel.com inc.
    Internationally-branded Autobytel.com (http://www.autobytel.com) is the
acknowledged leader in online automotive commerce(1).  The most comprehensive
automotive Internet site, Autobytel.com offers consumers a positive purchasing
and ownership experience, while providing its Accredited Dealer Network with
the most efficient way to reach online car buyers.  As it assists consumers
through every aspect of the automotive lifecycle, Autobytel.com provides
continuity into the next vehicle purchase.  Launched in March 1995,
Autobytel.com's low-cost, no-haggle car-buying program is available in the
U.S., Canada (http://www.autobytel.ca), the United Kingdom (http://www.autobytel.co.uk) and
Sweden (http://www.autobytel.se).  In 1999, Autobytel.com was ranked #1 in Dealer
Satisfaction with Online Buying Services for the second year in a row(2).

    The statements contained in this press release that are not historical
facts are forward-looking statements under the federal securities laws.  These
forward-looking statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are difficult to
predict.  Actual outcomes and results may differ materially from what is
expressed in, or implied by, such forward-looking statements.  Autobytel.com
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.  Among the
important factors that could cause Autobytel.com's actual results to differ
materially from those expressed in, or implied by, the forward-looking
statements are changes in general economic conditions, increased or unexpected
competition, the failure to close the acquisition of A.I.N. Corporation,
changes in A.I.N. Corporation's financial performance, and other matters
disclosed in Autobytel.com's filings with the Securities and Exchange
Commission.

    (1) As reported by J.D. Power and Associates, Autobytel.com accounts for
        45% of all new vehicles sold through an online service. (8.23.99)..
    (2) J.D. Power and Associates 1998-1999 Dealer Satisfaction With Online
        Buying Services Studies(SM).  1999 study conducted among dealership
        Internet specialists who completed 1,024 individual evaluations.