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Letter to the Editor

Copart Introduces Offsite Sales

Copart, Inc. has introduced a new Internet program for its suppliers and buyers -- Copart Offsite Sales.

"Copart Offsite Sales provides our vehicle suppliers with a pure Internet auction product," said A. Jayson Adair, Copart's President. "For the first time, it allows our vehicle suppliers to auction any vehicle, boat, or heavy equipment without first delivering it to a Copart auction facility. Sellers can simply log onto the Copart Offsite Sales screen at Copart.com, provide information and digital images regarding the vehicle to be sold, and offer the vehicle for sale to Copart's over 37,000 buyers. Like other popular Internet auctions for consumers, the seller controls the process -- the starting and ending times for the auction, minimum bids, special terms, etc.

"With over a year invested in design and development, Copart Offsite Sales is fully integrated with Copart's existing Internet auction platform," continued Adair. "Vehicles offered through Copart Offsite Sales are presented side by side with all other vehicles offered at Copart.com. Offsite vehicles can be found and viewed by buyers as part of Copart.com sale lists, "Carfinder" searches, and daily email bulletins. By allowing sellers to auction vehicles, boats, and heavy equipment without delivering them to a Copart facility, Copart Offsite Sales eliminates transportation costs while providing the benefits of Copart's Internet auction platform and buyer base. Boats can be auctioned from any marina and heavy equipment can be auctioned where it sits. With Copart Offsite Sales, sellers located in states without a local Copart presence can efficiently and easily sell their salvage to Copart buyers throughout the United States."

Copart is scheduled to announce results for the third quarter on May 21, after the close of the market.

Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed vehicle dismantlers, rebuilders, repair licensees and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. Copart operates 90 facilities in 40 states and provides services in other locations through its national network of independent salvage vehicle processors.

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