Copart Inc. announced a Technology Demonstration Auction showcasing its real-time VB2 Internet auction-style product. Copart says its proprietary VB2 (Virtual Bidding Second Generation) technology is a unique and innovative auction-style methodology for powering the sale of vehicles and merchandise over the Internet. It allows buyers anywhere in the world to locate a desired item, preview it through digital images and technical data, and participate in real-time virtual auctions via the Internet. VB2 combines two powerful bidding processes: an open competitive Preliminary Bidding period followed by a Virtual Auction conducted exclusively over the Internet.

The VB2 online auction takes place on January 14, 2005, where more than 100 items will be available for purchase, including state of the art electronics, sporting goods, travel and leisure items, jewelry and contemporary art. All items are available for "prebidding" immediately. To participate in the VB2 auction, buyers register at www.vb2.com where they will receive a $500 voucher toward their purchase at this auction. Copart's vb2.com web site includes photos and descriptions of each item.

"Our online auction on January 14th is designed to enable buyers of all kinds to use our innovative VB2 technology, and experience its unique real-time bidding approach that has made Copart the nation's largest salvage vehicle auction provider with over one million vehicles sold via the Internet in the last year," said Willis Johnson, Chairman and CEO of Copart. "In addition, businesses can see how easily large quantities of inventory are sold quickly utilizing VB2 technology."

Headquartered in Fairfield, CA, Copart is the largest seller of salvage vehicles via the Internet, with more than 107 auto facilities throughout the United States and Canada. Founded in 1982 as an auto salvage company, Copart provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through its Internet auctions to a range of customers including licensed vehicle dismantlers, rebuilders, repair licenses and used vehicle dealers.

Copart is currently working with 44 wholesale vehicle auctions, including 6 affiliated sites, to provide its proprietary VB2 auction technology for use in their auction process.

http://www.copart.com

http://www.vb2.com