Autodaq Corporation Appoints Directors of Business Development, Field Operations.

Business Editors

MENLO PARK, Calif.--(BUSINESS WIRE)--April 19, 2000

Autodaq Corporation, the online trading marketplace for businesses that buy and sell used automobiles, today announced the appointment of three new directors to its growing automotive management team.

Christoph Heiss and David Sandomierski were named directors of business development, and John Tirabasso was appointed director of field operations. The three directors together have more than 40 years of automotive management, training and financing experience.

As directors of business development, Heiss and Sandomierski will secure strategic alliances with financial institutions, transportation and inspection companies, as well as expand Autodaq's roster of online sellers of used vehicles at www.autodaq.com.

Tirabasso is responsible for growing and managing Autodaq's sales force, which brings buyers of used vehicles, primarily franchised dealerships, to the company's online community. He will oversee six sales regions.

"We are thrilled to bring on board three exceptional, experienced and talented directors," Autodaq CEO and co-founder Adam Boyden said. "Their collective background in the automotive and financial industries will help us grow the company not just by generating new business and partnerships but by providing an ongoing world class experience for those customers and partners. The ability to recruit such talent is a true compliment to our business model."

Autodaq is the online e-commerce "hub" serving dealerships and other businesses that traditionally buy and sell used vehicles primarily through physical automobile auctions - a $93 billion market.

Prior to joining Autodaq, Heiss served as marketing director for VW Credit, Inc., responsible for asset growth and pricing of North American Volkswagen, Audi and Rolls Royce lease and loan businesses. During his tenure, Heiss increased revenue base by developing new products in partnership with specialty finance and insurance companies and by growing the used vehicle financing business.

Heiss also developed Volkswagen Credit and Audi Financial Services' initial Internet presence and assumed responsibility for developing the company's e-business strategy.

Sandomierski joins Autodaq from Condor Venture Capital, a Manhattan Beach, Calif., company of which he was founder and co-owner. Condor Venture Capital provides financial consulting to a variety of clients - primarily high-tech startup companies - participates in venture capital investing in seed-round financing and develops new business opportunities, including mergers and acquisitions. Prior to Condor, Sandomierski was Director of Fleet and Remarketing Services for Nissan Motor Corporation and Director of Nissan's North American SAP Implementation.

Tirabasso brings 20 years of automotive experience to Autodaq. With years of retail management experience under his belt, including a considerable amount of time in used cars, he entered into the arena of consulting and training where he developed a successful consulting business. These sales and consulting skills were taken online four years ago with the then startup, autobytel.com.

Autodaq's technology and related services help sellers increase profitability and ROI by gaining access to a larger buyer pool capable of bidding on each vehicle and selling vehicles more quickly, thus reducing depreciation and freeing up capital, creating efficiencies in reconditioning, detailing and transportation costs.

Buyers increase profitability by gaining real-time access to an extensive online inventory of used vehicles, as well as the option of instant buying ("Click and Buy") and/or bidding, notification when desired vehicles become available, instantaneous reporting and shipping and delivery.

Founded in July 1999, Menlo Park, Calif.-based Autodaq Corporation (www.autodaq.com) is transforming the used automobile industry by establishing an Internet marketplace with a dramatic new level of efficiency for businesses that buy and sell used vehicles. Autodaq provides online services and technologies that significantly reduce costs while increasing profitability by eliminating inefficiencies for financial institutions, manufacturers and other fleet, lease and rental operators, and franchised, independent and Internet-based auto dealers and wholesalers. Autodaq is a privately held company; its investors include August Capital, Zilkha Ventures and several angel investors from the Internet and automotive industries.

SOURCE: Autodaq Corporation