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Letter to the Editor

Insurance Auto Auctions Appoints CFO

SCHAUMBURG, Ill. -- Insurance Auto Auctions, Inc. has announced the appointment of Scott P. Pettit as the company's new chief financial officer, replacing Steve Green.

"We are fortunate to have attracted an individual of Scott's caliber as our new CFO," said Tom O'Brien, chief executive officer. "As a seasoned financial executive, he brings a focus on driving shareholder value, enhancing profitability and effecting fundamental strategic change."

Pettit, 38, most recently served as senior vice president and chief financial officer of Corsolutions Medical, Inc., a national provider of integrated disease management services. From 1994 to 1998, he served as vice president and chief financial officer at Globe Glass and Vistar, Inc. While there, he was instrumental in executing the merger of Vistar into Safelite, effectively consolidating the three largest autoglass repair and replacement companies into one entity. Prior to that post, Pettit held various financial and management positions at Globe Glass, Material Sciences Corporation, Morton Thiokol, Inc. and Ernst & Whinney.

Pettit received a Masters in Management in 1990 from the J.L. Kellogg Graduate School at Northwestern University and a Bachelor of Business Administration in 1984 from the University of Wisconsin. He is a CPA and a member of various professional organizations, including the AICPA, the ICPAS and the Financial Executives Institute.

Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 58 auction sites across the United States.

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