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1,900,000 INSURANCE AUTO AUCTIONS COMMON SHARES OFFERED AT $12.75 PER SHARE

 1,900,000 INSURANCE AUTO AUCTIONS
 COMMON SHARES OFFERED AT $12.75 PER SHARE
 LOS ANGELES, May 28 /PRNewswire/ -- William Blair & Company and Montgomery Securities, underwriting co-managers, announced today the public offering of 1,900,000 shares of Insurance Auto Auctions, Inc. (NASDAQ: IAAI) common stock at $12.75 per share. Of the total shares to be sold, 1,050,000 are being sold by the company and 850,000 by selling shareholders.
 Proceeds to Insurance Auto Auctions will be used for acquisitions of auto salvage sellers and other general corporate purposes.
 Founded in 1982, Insurance Auto Auctions, Inc. provides insurance companies a cost-effective, turnkey means to process and sell total loss and recovered theft vehicles. The company currently has four auction sites in California, and one each in Arizona and Hawaii.
 -0- 5/28/92
 /CONTACT: Robert H. Kenmore, chairman of Insurance Auto Auctions, 415-876-1900, Philip W. Reitz of William Blair & Company, 312-236-1600, or Frank M. Dunlevy of Montgomery Securities, 415-627-2939/
 (IAAI) CO: Insurance Auto Auctions Inc. ST: California IN: AUT SU: OFR


PS -- NY036 -- 4688 05/28/92 11:17 EDT
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Publication:PR Newswire
Date:May 28, 1992
Words:183
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