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USAtradein.com Launches First Web Site Facilitating Online Automobile Trade-ins

2 October 2000

USAtradein.com Launches First Web Site Facilitating Online Automobile Trade-ins

Auto Industry Veterans Leverage Internet to Support Traditional Brick & Mortar
                         Dealer Distribution Network

    AUSTIN, Texas, Oct. 2 In a move to make the Internet work
for -- not against -- automobile dealerships while at the same time helping
consumers easily obtain maximum value for their trade-ins, a group of
automobile dealership industry veterans today launched USAtradein.com.
    This first-of-its-kind Web site connects traditional automotive dealers
with consumers so that consumers can obtain competitive bids on their used
autos over the Internet.   Dealers meanwhile have an efficient method for
building their used vehicle inventories, a significant source of revenue.
Also, since 70 percent of all new vehicle sales involve trade-ins,
participating automobile dealers are connected with people likely to be
interested in purchasing new vehicles.
    USAtradein.com helps consumers, at no charge, receive maximum value for
their used vehicles.  The Web site empowers consumers by educating them on the
trade-in process and then offering a unique reverse auction process through
which they obtain multiple, competitive bids from automobile dealers in their
area in a risk- and pressure-free environment.
    "This is a win-win situation for dealers and consumers," said Don
Tamburro, Chief Executive Officer, USAtradein.com and a former member of the
board of directors of the Texas Automobile Dealers Association.
"USAtradein.com reduces costs and potentially increases revenue streams for
dealers by bringing used vehicles and customers right to their showroom
floors.  Consumers win because our reverse auction gives them the opportunity
for prices on their automobiles they would not have had before, and they can
do it from the comfort of their homes."
    USAtradein.com plans to launch its business on a regional basis, beginning
in Texas.  So far, USAtradein.com has signed up more than 80% of the
automobile franchises in Austin.
    USAtradein.com is currently signing dealerships in additional Texas
markets as well.  These early successes are significant because Texas is one
of the nation's toughest markets for automotive e-commerce.  USAtradein.com
plans expansion throughout the southwest and then to other regions of the
United States.
    "The participating Austin dealers are a great affirmation of our business
model," said Charles King, Chief Financial Officer, USAtradein.com.  "These
are the groups we have competed against head-to-head for years.  Now they are
our business partners.  You can't get a bigger thumbs-up than that."
    USAtradein.com is a business by dealers for dealers.  "As a dealer, I have
watched car sales on the Internet evolve and was excited to find out that
someone had finally put the trade-in process online," said Doug Maund,
president of Maund Automotive Group in Austin, Texas - a USAtradein.com
network dealer.  "It is such an essential piece of the puzzle.  This service
will save my company money and bring in potential customers I might not have
seen otherwise."
    USAtradein.com is a combination of brick-and-mortar experience and
Internet technology.  Classic Automotive teamed with Mitch Scherr,
USAtradein.com Chief Strategy Officer, to turn its idea into reality.
Previously, Scherr helped launch EdgarOnline and was Director of Internet
Services for Individual Investor Online.
    "They used to talk about the dot-com revolution.  This is the dot-com
revelation," said Scherr.  "The smart play isn't trying to reinvent the
automobile market by bringing it to the Internet.  As we have all seen, the
path to success lies in combining real world expertise and technical
e-business knowledge."
    USAtradein.com was founded by Classic Automotive Group, based in Round
Rock, Texas, north of Austin.  Classic's executive team has more than 50 years
of experience in the automotive dealership industry.  Classic Automotive Group
has been ranked in the top 60 national mega-dealers with sales of $402 million
by Ward's Dealer Business survey (1998).
    USAtradein.com strategically partnered with several leading technology
groups to engineer the project including Concero , Broadwing
and MagRabbit.com.  Lightbulb Press and Intellichoice provided the
unique proprietary content for the Web site.

    About USAtradein.com
    USAtradein.com is the first online automotive commerce group to allow
consumers to get competitive bids on their used vehicles from automobile
dealers in their area.  Classic Automotive Group, based in Round Rock, Texas,
founded USAtradein.com in December 1999.  Classic Automotive Group was ranked
59th in a Ward's Dealer Business survey of national mega-dealers in 1998.
USAtradein.com combines real-world brick-and-mortar expertise with advanced
Internet knowledge to provide consumers with a valuable service and dealers
with an additional channel for connecting with consumers trading their autos
and likely to buy new ones.  For more information visit http://www.USAtradein.com.