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ADESA Acquires Canadian Importation Company

December 26, 2000

ADESA Corporation has announced that its subsidiary, ADESA Importation Services, Inc., has acquired all of the assets of International Vehicle Importers, Inc., a United States registered importer, and IVI's affiliated companies' assets.

The acquisition of IVI immediately gives ADESA the capability to provide registered importation services across the U.S. and Canada, according to company officials. ADESA simultaneously has received a registered importer's license from the United States National Highway and Traffic Safety Administration (NHTSA).

IVI is headquartered in Flint, Mich., with importation facilities in Buffalo, N.Y.; Flint, Michl; Grand Forks, N.D.; Sweetgrass, Mont.; and Blaine, Wash. IVI imports vehicles from coast to coast and is the nation's largest registered, independent, commercial importer of vehicles. IVI provides importation services, including marshalling, transportation, brokerage, titling, tax processing and speedometer/odometer conversions from metric to the U.S. measuring system.

"The addition of IVI further strengthens our already strategic position of nationwide auction facilities in both the United States and Canada," said Jim Hallett, president and CEO of ADESA. "ADESA has received repeated inquiries and interest from its customers, from all segments, whether dealers, fleet/lease companies or manufacturers, to provide an importation service. We are therefore pleased to announce this new program which will allow ADESA to provide the much needed importation services to its customers desiring to import vehicles from Canada into the United States."

About ADESA

ADESA Corporation is North America's second largest provider of wholesale vehicle remarketing services.

The company is a wholly-owned subsidiary of ALLETE, Inc., a multi-services company with corporate headquarters in Duluth, Minn. In addition to ADESA, ALLETE'S automotive holdings include Automotive Finance Corporation, with more than 80 offices across North America, the leading provider of inventory financing for auto dealers who purchase vehicles at auction; Professional Auto Remarketing (PAR) which sells vehicles and provides other value-added services through a nationwide network of auctions; and Great Rigs, Inc., one of the nation's largest independent transport carriers of used automobiles.

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