ADESA, Inc. Announces Sale of ComSearch

CARMEL, Ind., Aug. 8 /PRNewswire-FirstCall/ -- ADESA, Inc. announced today it has sold ComSearch, Inc., a Rhode Island-based division employing about 100 people. ComSearch provides professional claims outsourcing services, including automotive parts-locating and desk-auditing services, to the property and casualty insurance industry.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040708/DETH017LOGO )

ADESA acquired ComSearch in 2001 and has been operating the business under one of its subsidiaries, ADESA Impact. The buyer of ComSearch, CSI Partners, Inc., is a newly formed company led by Bob Lyons, Jr. and Ken Weiss. Lyons, who had owned and operated ComSearch prior to ADESA, has been overseeing the operation for the past year. Weiss, a key member of the ComSearch management team for more than 13 years, along with Lyons and other shareholders, have acquired all outstanding shares of ComSearch.

"The suite of services that ComSearch provides its customers is more appropriately serviced by a boutique-type company," said Cheryl Munce, President of ADESA Impact North America. "I am excited to be able to satisfy our needs, the needs of the customers, as well as those of ComSearch and their dedicated employees."

Details of the transaction were not disclosed. About ADESA, Inc. and ADESA Impact:

Headquartered in Carmel, Indiana, ADESA, Inc. is North America's largest publicly traded provider of wholesale vehicle auctions and used vehicle dealer floorplan financing. The company's operations span North America with 53 ADESA used vehicle auction sites, 32 Impact salvage vehicle auction sites and 84 AFC loan production offices. For further information on ADESA, Inc., visit the company's Web site at http://www.adesainc.com/ .