The Car and Truck Fleet and Leasing Management Magazine

Copart Announces International Buyer Assistance Agreement with Akinvest

July 5, 2005

FAIRFIELD, CA – Copart, Inc. has entered into an agreement to allow Canadian-based Akinvest, Inc. to provide floor planning and logistical assistance to international buyers of vehicles from Copart as well as the international buyers of vehicles from wholesale vehicle auctions using the VB2 Internet sales platform. Under the terms of the agreement, Akinvest will offer financing on certain qualified salvage and whole vehicles as well as assistance in arranging export transportation and complying with customs documentation requirements. Copart sells more than 1 million salvaged vehicles per year via the Internet using its proprietary online sales technology, VB2. Recently, Copart has entered into agreements to act as an Application Service Provider, providing VB2 technology to 40 independent wholesale auction houses. In the last quarter, 22 percent of all salvage vehicles sold by Copart were exported out of the United States.
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