Copart Announces Agreement with Hansa Finance.

FAIRFIELD, Calif. -- Copart, Inc. (Nasdaq:CPRT) today announced that it has entered into an agreement with Lithuania-based Hansa Finance, which will result in the first VB2 powered online vehicle sales in Europe. Hansa is based in Klaipeda, Lithuania, and has been importing vehicles acquired from Copart's salvage operations and Copart's wholesale dealer auction partners into Europe since last year.

Under the terms of the agreement, Hansa will be utilizing VB2 to remarket vehicles in Eastern Europe. Hansa buys vehicles in the United States and ships them to Europe through the Port of Klasow, a new facility located in Klaipeda, Lithuania. There, the vehicles are redistributed to surrounding countries, primarily Russia, Ukraine, Latvia, Kazakhstan, Uzbekistan and Georgia.

"We are excited to introduce VB2 to our market. We believe that it will allow us to reach new buyers throughout Eastern Europe, increasing our buyer base and thereby increasing demand," stated Victor Viaden, President of Hansa Finance.

"We think this is another indication of the worldwide appeal of our VB2 technology. We hope to introduce VB2 into other international markets by the end of the year and hope one day to make VB2 an integral part of the worldwide vehicle redistribution market," stated Willis J. Johnson, Copart's Chief Executive Officer.

Hansa Finance, one of the Viaden Group companies, was founded in 2001. It specializes in automobile redistribution and claims to have a worldwide logistics network that supports 78 dealerships in 24 countries, primarily serving Europe and Asia.

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. The Company operates 113 facilities in the United States and Canada. It also provides services in other locations through its national network of independent salvage vehicle processors.

Safe Harbor Concerning Forward-Looking Statements 

This press release contains statements concerning Copart's intention to expand its business by implementing its VB2 auction technologies in the wholesale and salvage automobile auction market, including implementations of VB2 at non-affiliated wholesale auctions. This strategy presents numerous risks associated with new business ventures. Copart cannot predict what effect, if any, implementation of VB2 at third party auctions will have on Copart's business or operating results. In particular, Copart's historic experience has focused on auctions of salvage vehicles and, more recently, on public auctions of non-salvage vehicles. Copart has no experience licensing or otherwise selling technology products or providing auction management or support services to unrelated auctions. For a more detailed discussion of the risks that may affect Copart's business and operating results, please refer to the information under the captions "Factors That May Affect Future Results" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.