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Planet Salvage Introduces 'Planet Auctions,' Internet Based Auto Auctions

20 November 2000

Planet Salvage Introduces 'Planet Auctions,' Internet Based Auto Auctions

    LENEXA, Kan., Nov. 20 Today Planet Salvage, Inc. the
world's largest Internet salvage trading exchange became the only online total
solution for the auto salvage industry.  With the launch of "Planet Auction,"
Planet Salvage captures the entire supply chain in the auto salvage industry.
From the point of loss to the point of repair, Planet Salvage provides a total
solution that serves the salvage, insurance and collision repair industries as
well as auto enthusiasts everywhere.
    "We have seen other attempts to bring online auctions to the salvage
industry, but we have separated ourselves from the competition because we also
offer an integrated parts exchange system," said Scott Petersen, president and
CEO of Planet Salvage, Inc.  "The auction system our team developed can also
be customized to serve our members who have previously owned cars to sell,
whether they are salvage dealers, fleet companies, financial institutions,
insurance companies, impound lots or general consumers.  No matter a vehicle's
condition, all cars will be targeted to a specific buyer base assuring active
and robust bidding."
    Planet Auction was developed using state of the art technology that
allowed Planet Salvage to implement unique auction features tailored for the
auto salvage industry.  Planet Salvage negates the need for insurance carriers
and salvage pools to develop and maintain their own expensive Internet
solutions.  The auction system provides sellers an auction forum 24x7, an
expanded buyer base, and improved efficiencies increasing their net return on
vehicles sold through the auction.  This improves the cash flow and salvage
returns to insurance companies.
    "Our market research indicated that our member recyclers, over 1000 and
growing, want and need the option to purchase salvage vehicles online and
expand their reach for salvage supply," said Brian Randall, Planet Salvage
Chief Operating Officer.  "The auction functionality also directly integrates
with and compliments our already established recycled parts procurement
system."
    Planet Salvage (http://www.planetsalvage.com) was formed in 1999 and is based in
Lenexa, Kansas.  Planet Salvage members can utilize the efficiencies of the
Internet to bring professionals from the salvage, auto care and insurance
industries together to conduct business ranging from locating and buying
recycled auto parts and processing insurance claims to buying and selling
salvage and previously owned autos.  For more information please contact
Cheryl Tiemann at (913) 599-1600 or visit our website at
http://www.planetsalvage.com.