Openlane (GREY:OPNN)

April 6, 2010 – OPENLANE, Inc., a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced the company just concluded the most successful month in its 10-year history, driving sales for the first quarter of 2010 to record-breaking levels. Sales figures for the month of March 2010 were 38,671 vehicles, significantly exceeding the previous record set in June 2009.

Since its inception in 1999, OPENLANE has been a pioneer in the online auto auction industry, revolutionizing the way used cars are bought and sold online. The company had a record breaking year in 2009, listing close to 1 million vehicles and selling approximately 400,000 vehicles. OPENLANE currently serves 25,000 dealers across North America and is one of the most comprehensive wholesale auto auctions available today.

“We had great velocity on new programs in 2009 and continue movement in 2010 on offerings that benefit the dealer community, including partnerships with Carfax, the American Recovery Association, Volkswagen Credit and Ford Credit; OPENLANE has tremendous momentum that continues to redefine industry practices,” said Daniel Farrar, CEO of OPENLANE. “Our performance demonstrates the excellent growth we are experiencing.”

The GeoTeam has not been able to locate financial statements for Openlane.