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AutoTradeCenter Signs Contract With Volvo Finance to Provide Internet Vehicle Remarketing

May 1, 2001

AutoTradeCenter announced May 1 that it has signed a one-year contractual remarketing agreement with Volvo Finance North America, Inc. (Volvo Finance).

The agreement provides a Web-enhanced remarketing program for the disposition of Volvo Finance’s 30,000-plus annual maturing leases in its consumer lease portfolio to 328 Volvo franchise retailers. The remarketing program for Volvo Finance incorporates the ATCadvantage technology recently unveiled by AutoTradeCenter (ATC) as well as “live” retailer support.

“For the first time, Volvo Retailers have the ability to purchase our off-lease vehicles based upon a condition report, with digital images, on-line," said Thomas Fleming, director of asset sales at Volvo. "We are excited to offer our retailers broader private access to quality inventory much earlier in the selling cycle. In addition, we will be significantly decreasing overall acquisition costs. With ATC, Volvo Finance enlists an industry proven remarketing team. Our objectives are clear: insure maximum sales among our retailers, while protecting residual values, and continue to build the most valuable retailer franchise.”

The Volvo Finance private and branded site is scheduled to roll out regionally in the coming weeks, with a national launch in July 2001.

“Volvo Finance desired a program encompassing more than savings through the direct sale of the Volvo Finance off-lease inventory,” said Stephen G. Wheeler, director of business development at AutoTradeCenter. “What they want is a comprehensive remarketing strategy, giving all Volvo retailers a competitive edge. ATCadvantage meets Volvo Finance’s objectives by featuring ‘real’ retailer service and support, unlimited access, inventory management, and the comprehensive business tools to drive sales. Volvo retailers gain exclusive access to meaningful Volvo Finance programs such as special finance options and much more, completing the remarketing package.”

“Our agreement with Volvo Finance is a benchmark for ATC, by firmly solidifying our position as the industry’s leading online remarketer," said Roger L. Butterwick, president of ATC. "Volvo Finance joins ATC’s growing family of savvy vehicle remarketers who rely on 'best methods' practices employed by ATC. We are honored to be selected as Volvo’s primary remarketing partner.”

Volvo Finance North America, Inc. joins American Honda Finance Corporation and American Suzuki Motor Corporation in utilizing AutoTradeCenter’s Internet remarketing services.

About Volvo Finance

Volvo Finance North America is the captive finance arm of Volvo Cars North America. The company provides a wide range of financial services for the purchase and lease of both new and pre-owned Volvo cars in the United States.

About AutoTradeCenter is an Internet-based business-to-business automotive remarketing company.

ATC markets its services to automobile manufacturers, captive finance companies, lease and rental companies, and financial institutions across the U.S.

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