About OPENLANE

Daniel Farrar is Chief Executive Officer for OPENLANE. As CEO, Mr. Farrar is responsible for the growth and strategic development and direction of the company. Mr. Farrar has demonstrated a strong bias for outstanding customer service and process management throughout his career.

Mr. Farrar was most recently a General Partner in the leveraged buyout group of Morgenthaler Partners, a leading private equity venture capital and buyout firm. Prior to his work at Morgenthaler Partners, Farrar spent more than 20 years working in a variety of capacities for General Electric Corporation (GE), including GE Capital Fleet Services. During his long tenure at GE, Farrar served as CEO for GE Capital Fleet Services Europe where he had P&L responsibility for GE's automotive financial services and leasing business.

Mr. Farrar holds a bachelor of science degree in mechanical engineering from Worcester Polytechnic Institute and a master's in business administration from Harvard University. He is also Six Sigma certified and has sat on the board of directors for a number of U.S. and internationally based companies.

Peter Kelly is president and chief financial officer and co-founder of OPENLANE and is responsible for all financial activities at the company. As co-founder, Mr. Kelly has driven the company's strategic direction as it has developed from concept stage to become one of the leading online wholesale automotive auctions in North America. In addition, Mr. Kelly has been instrumental in helping OPENLANE build its technology, operations and financial infrastructure to facilitate the company's growth.

Prior to OPENLANE, Mr. Kelly spent eight years managing engineering, construction and procurement projects for Taylor Woodrow, a U.K.-based construction and development firm.

Mr. Kelly earned a first class honors degree in engineering from University College Dublin and an M.B.A. from Stanford University.

Michael Briggs is Vice President of Transportation & Logistics - US & Canada at OPENLANE and is responsible for all transport functions at OPENLANE and its CarsArrive Network subsidiary.

Previously, Michael was the founder, CEO and architect of CarsArrive Network, a leading national online transportation and logistics company. The company went live in 2001 and for 4 years was the exclusive online shipping tool for Manheim Online. CarsArrive Network was later acquired by OPENLANE in 2007. Prior to CarsArrive, he owned and operated MRB of Virginia, a car haul transport company which he founded in 1990. Michael was also Director of Transportation for Pricedrive, an online automotive exchange startup funded by Landmark Communications. In 1989, Michael began selling cars at Prestige Imports, a large independent dealership in northern Virginia and AutoLoan Center where he was quickly promoted to General Sales Manager and has also launched a subprime finance department for a Georgia dealer group.

Michael has enjoyed working directly in the automotive industry over the past 20 years and has collaborated closely with his business partner, mentor and investor — world class businessman Richard L. Sharp, founder, President, CEO, Chairman - Carmax, Circuit City, Crocs Shoes, Flextronics, VTen Capital Partners.

Scott Cross is vice president of human resources and is responsible for all human resources activities of OPENLANE including payroll, option and stock administration, facilities and benefits. Previously, Mr. Cross was the vice president of finance at OPENLANE and joined the company in 2001.

Prior to OPENLANE, Mr. Cross served as corporate controller of Halo Data Devices, Inc., a manufacturer of mini disk drives, from 1999 to 2001. Prior to Halo Data Devices, Inc., he served as the vice president of finance and administration for Red Herring Communications, Inc., publisher of "Red Herring" magazine. From 1994 to 1996, Mr. Cross was corporate controller for Mercury Interactive, a software developer, where he helped manage Mercury Interactive's secondary offering and two technology acquisitions. From 1991 to 1994, Mr. Cross was a senior staff auditor with Price Waterhouse, LLP, where he helped manage Mercury Interactive's initial public offering.

Mr. Cross holds a Bachelor of Science degree in commerce and a minor in English from Santa Clara University.

Gary Edelstein is vice president of technology services/chief information officer and a co-founder of OPENLANE. As CIO, Mr. Edelstein leads the company's technology services team and is responsible for technology operations and project management, data services, ERP services, and business analysis services.

Prior to joining OPENLANE, Mr. Edelstein consulted on enterprise-wide SAP software implementations in mid-market companies with Optimum Software Solutions (now IDS Scheer). Mr. Edelstein started his career in Ernst and Young's Management Consulting Services graduate program in South Africa, working on client implementations requiring business process innovation, technology enablement and software package-enabled re-engineering. Afterwards, Mr. Edelstein moved to London where he consulted as an independent, senior IT Business Analyst to high-growth companies in the newly deregulated European telecommunications industry.

Mr. Edelstein holds a bachelor's of business sciences degree in Information Systems from the University of Cape Town in South Africa. He obtained his Information Systems Honors with distinction, graduating first in his class.

Laurel Finch is vice president and general counsel of OPENLANE and is responsible for all legal matters for the company. She has substantial experience in corporate and securities law, in particular, representing public and private technology companies.

Prior to joining OPENLANE, Ms. Finch was deputy general counsel and senior vice president at Visa USA, Inc., where she oversaw all of Visa USA's corporate, commercial, regulatory and intellectual property legal matters. Ms. Finch was also the lead internal securities lawyer on the Visa corporate reorganization and IPO. Prior to joining Visa USA in May 2006, she was a corporate and securities partner at Venture Law Group and then Heller Ehrman (after VLG's merger with Heller Ehrman in 2003) and served as outside general counsel to numerous public and private technology and life sciences companies for 11 years. Before attending law school, Ms. Finch worked as a commercial lending officer for Citibank.

Ms. Finch holds a J.D. from Stanford Law School, where she was a member of the Order of the Coif, an M.B.A. from the Thunderbird School of Global Management and an A.B. degree from Stanford University.

Andrew Iorgulescu is vice president of business & dealer development and a co-founder of OPENLANE and is responsible for overall business & dealer development efforts at the company.

Prior to co-founding OPENLANE, Mr. Iorgulescu served as director of e-commerce market development for Infoseek, heading up GO Network's first e-commerce initiative geared toward large e-retailers. He also served as director of the Used Car Cyberstore and Dealer Real Time (DRT) at Autobytel.com Inc., spearheading the redesign and management of the online automotive dealer's pre-owned car programs. In addition to his work at Autobytel, Mr. Iorgulescu has managed several e-commerce business initiatives for GE Capital Auto Financial Services, and worked internationally for CBI Industries Inc. in Madrid and Baker and McKenzie in Buenos Aires.

Mr. Iorgulescu earned an M.B.A. from the University of Texas at Austin and dual bachelor's degrees in Political Science and Spanish from Knox College in Galesburg, Ill.

Nagi Palle, Ph.D, is vice president of analytics for OPENLANE and is responsible for increasing the company's overall sell rate, assisting customers to define online remarketing metrics, optimizing channel performance and market pricing, as well as driving internal analytics for OPENLANE's full-service online marketplace. He leads the analytics team in providing market-pricing guidance to both the company's internal sales organization and to automotive dealers in order to help drive OPENLANE's industry-leading online auction.

Prior to joining OPENLANE, Dr. Palle was an executive partner in Accenture's supply chain and automotive practices, where he was primarily responsible for leading global transformation programs for OEMs and suppliers worldwide. Prior to that, he served as a principal at A.T. Kearney, overseeing the launch of its Mumbai (India) office in 2004. Dr. Palle was also the former finance and strategy director at iMotors, a value-added reseller of pre-owned vehicles, where he was responsible for used car pricing and economics, financial modeling and operations, as well as the strategies for the company's B-to-B and B-to-C businesses. He has also held management and technical positions at Visteon Corporation and Ford Motor Company.

Dr. Palle holds an M.B.A. from the University of Michigan at Ann Arbor and a doctorate in Mechanical Engineering from the University of Illinois Champaign-Urbana. In addition, he holds a master's of science degree in Applied Mechanics from the Colorado School of Mines in Golden, Colo., and a bachelor's of technology degree from the Indian Institute of Technology, Madras, India.

Chuck Tapp is vice president of institutional sales and is responsible for OPENLANE's consignor business development and program management.

Prior to joining OPENLANE, Mr. Tapp was executive vice president of sales and marketing for Adesa, Inc., where he managed all of the company's corporate sales, marketing and advertising functions, including branding and strategic product development. Mr. Tapp also served as the first vice president for lease end consulting and asset remarketing at Banc One Credit Company, overseeing remarketing of over 150,000 used vehicles annually and managing the strategic planning and implementation for the company's bank division. Prior to that, he was president of SourceOne/PrimeSource, LLC, where he was responsible for managing the East Coast wholesale sales operation ranging from Connecticut to Florida. Mr. Tapp has held key automotive industry and auction-related positions as the director of product sourcing at Driver's Mart Worldwide, Inc., vice president sales operations at Greater Auction Group, Inc., and national director-fleet operations at Alamo Rent A Car, Inc.

Mr. Tapp holds an M.B.A. from Florida Atlantic University and a bachelor's degree from Vanderbilt University, where he majored in business administration.