OPENLANE Sets New Sales Records for First Quarter 2010

Company Appoints Co-founder Peter Kelly to President
REDWOOD CITY, Calif.--(Business Wire)--
OPENLANE, Inc., a leading online auction company in North America for automotive
dealers to buy and sell wholesale vehicles, today announced the company just
concluded the most successful month in its 10-year history, driving sales for
the first quarter of 2010 to record-breaking levels. Sales figures for the month
of March 2010 were 38,671 vehicles, significantly exceeding the previous record
set in June 2009. OPENLANE`s Canadian, U.S. Open Auction and iDEAL Seller
Program all achieved record-breaking sales, and the CarsArrive transportation
subsidiary had its best month to date, reaching new highs in the number of
vehicles transported across North America. In addition to the company`s recent
momentum, OPENLANE also announced the appointment of Chief Financial Officer
Peter Kelly to President, effective immediately. Mr. Kelly will also retain his
position as CFO of the company.

Since its inception in 1999, OPENLANE has been a pioneer in the online auto
auction industry, revolutionizing the way used cars are bought and sold online.
The company had a record breaking year in 2009, listing close to 1 million
vehicles and selling approximately 400,000 vehicles. OPENLANE currently serves
25,000 dealers across North America and is one of the most comprehensive
wholesale auto auctions available today.

"We had great velocity on new programs in 2009 and continue movement in 2010 on
offerings that benefit the dealer community, including partnerships with Carfax,
the American Recovery Association, Volkswagen Credit and Ford Credit; OPENLANE
has tremendous momentum that continues to redefine industry practices," said
Daniel Farrar, CEO of OPENLANE. "Our performance demonstrates the excellent
growth we are experiencing."

OPENLANE`s extensive service offering provides dealers the benefits of an
end-to-end buying and selling experience, through an expanded set of
partnerships with the most recognized names in the industry. Additionally,
OPENLANE`s expanded services and benefits provide a competitive edge to any
dealer who uses the company`s network of online services and transport. OPENLANE
recently announced value-added programs such as the OPENLANE Certified Auction
Partner Program, which provides dealers with both online and physical auction
exposure to increase the efficiency of vehicles sales; a partnership with
Volkswagen Credit, Inc. to serve as its exclusive transportation solution for
all Volkswagen and Audi Financial Services vehicles that are transported to
physical auctions; and a new initiative to help facilitate the sale of
repossessed vehicles directly from recovery agent yards. Through programs like
these, OPENLANE demonstrates the breadth of services and inventory sources that
the company offers its dealers and consignors.

Peter Kelly Named President

In addition to the company`s recent momentum, OPENLANE also announces the
appointment of Chief Financial Officer Peter Kelly to the position of President,
effective immediately. In his new role, Mr. Kelly will spearhead the tactical
implementation and operational development of the institutional and
transportation business lines with a focus on building upon OPENLANE`s success
in new market segments. He will also retain his existing responsibilities as
CFO. As a co-founder of OPENLANE and pioneer of online wholesale vehicle
auctions, Mr. Kelly has played a huge role in the company`s growth in the past
decade and its establishment as a market leader and innovator.

"As we accelerate our strategic initiatives and growth, Peter`s hands-on
leadership and guidance will be instrumental to expand our vehicle
diversification and supply segments in servicing our customers. Peter`s customer
orientation and commitment to provide the best experience possible will continue
to put our valued customers at the forefront of every OPENLANE decision," added
Farrar.

Mr. Kelly holds a first-class honors degree in engineering from University
College Dublin and an M.B.A. from Stanford University.

"It has been extremely rewarding to be part of the OPENLANE team. When we
started the company, the concept of an online wholesale auto auction was new and
unproven. In partnership with our selling and dealer customers, OPENLANE
executed on its vision of an online model to not only be viable, but successful.
Today, we continue our excellent growth and are grateful to all of our customers
for the trust they place in us. I am proud to be part of a winning team," said
Mr. Kelly. "I am thrilled and honored to take the role of President of OPENLANE,
working with Daniel and the executive team, and look forward to cultivating new
opportunities on behalf of our customers and continuing on our path of
innovation and leadership."

About OPENLANE

OPENLANE, Inc. is a leading online auction company in North America for
automotive dealers to buy and sell wholesale vehicles. The company offers
end-to-end auto remarketing solutions to auto manufacturers, captive finance
companies, lease and daily rental companies, financial institutions and
wholesale auto auctions throughout the United States and Canada. OPENLANE powers
online remarketing programs for American Honda Finance, Audi Financial Services,
Avis Budget Group, Chase Auto Finance, Chrysler Financial, Ford Motor Credit,
Porsche Financial Services, Volkswagen Credit, among others. For more
information, please visit www.openlane.com or call +1 (866) 969-0321.

Editor`s Note:Please note OPENLANE is spelled in all capital letters.

Bateman Group for OPENLANE
Lisa Melsted, 415-503-1818, ext. 15
openlane@bateman-group.com
or
OPENLANE
Ed Chuang, 650-412-4010
echuang@openlane.com

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