Ins. Auto Auctions Announces Acquisition of Wichita Ins. Pool Inc.

Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, announced the acquisition of Wichita Insurance Pool Inc. located in Wichita, Kansas. Conveniently located near downtown Wichita, the 30-acre facility will leverage our existing location in Kansas City, Kan., as well as other regional locations in Omaha, Nebr., Springfield, Mo., and Oklahoma City, Okla. The site includes a spacious indoor warehouse that will facilitate the Run & Drive® auction and the new enterprise-wide technology system will be installed in the branch in the very near future.

“This facility allows us to expand our coverage in the state of Kansas in addition to enhancing our coverage in the Midwest,” said Tom O’Brien, CEO of IAA. “The facility has been in operation since 1984 and, as a result, it has built a strong reputation in the area upon which we can build.”

O’Brien added, “This acquisition represents the fifth new facility we have added so far in 2003, putting us well on track to reach our goal of adding six to ten new branches for the year. We will continue to update our customers and shareholders of other branch additions in the months ahead.”