IAAI Insurance Auto Auctions (MM)

Award Honorees to be Announced at Washington, D.C. Gala on June 6, 2005 Insurance Auto Auctions, Inc. (Nasdaq:IAAI) has been named as a finalist for the coveted 21st Century Achievement Award from the Computerworld Honors Program for its visionary use of information technology in the Finance, Insurance and Real Estate category. Michael D. Capellas, Chief Executive Officer at MCI and member of the Chairmen's Committee, nominated IAA in recognition of its contributions to the global information technology revolution and its positive impact on society. The award honorees will be announced at a gala at the National Building Museum in Washington, D.C. on June 6, 2005. Insurance Auto Auctions was one of 162 laureates selected by the program's Chairmen's Committee study from over 250 nominations to submit a case study that officially became part of the prestigious Computerworld Honors Collection this past April when the 2005 Collection was formally presented to the Global Archives. Of these 162 laureates, IAA is one of 48 finalists, in 10 categories, chosen by an academy of 30 distinguished judges to attend the June 6 event. The award recognizes IAA's ingenuity in deploying an integrated wireless data and audio network throughout the Company's salvage centers. That same network made it possible for IAA to introduce I-bid LIVE(sm), the Company's live auction Internet bidding platform. "The Computerworld Honors 21st Century Achievement Awards are presented to organizations around the world who have made outstanding progress and whose visionary use of information technology produces and promotes positive social, economic and educational change," said Bob Carrigan, president and CEO of IDG's Computerworld, the Voice of IT Management, and chairman of the Chairmen's Committee of the Computerworld Honors Program. "The finalists for these awards along with the laureate innovators represented in the Honors Collection have been recognized by the leading IT industry chairmen as true revolutionaries in their fields." Tom O'Brien, President and CEO of IAA commented, "IAA has made consistent, measurable progress in recent years in the development and application of new technology to benefit our clients. Our hybrid model of combining live auction Internet bidding with the live physical auction has proven to be extremely successful. It is truly an honor for us to now be recognized by industry experts as an innovative technological leader. Going forward, IAA will continue to leverage both existing and developing technologies to further enhance the overall value that makes IAA the preferred vendor for so many insurance companies and salvage buyers today." The 2005 Collection, which will be archived in libraries, museums and academic and research institutions around the world, will serve as primary source material for scholars and as a resource for individuals who hope to use information technology to create solutions to address their own challenges. The collection is comprised of case studies from 54 countries. Case studies from the 2005 Computerworld Honors Collection will be available at http://www.cwheroes.org, the official site of the Computerworld Honors Program, where the entire Collection is available to scholars, researchers and the general public worldwide. In addition, the Collection is distributed annually to the Honors Program's Archival Partners around the world. These partners include some of the world's finest research and scholarly institutions, each of which has generously agreed to include the Collection in its archives. According to Dan Morrow, a founding director and chief historian for the Honors Program, "This year's finalists truly demonstrate how technology can significantly impact industries throughout the country. The accomplishments they have achieved through the use of technology are outstanding historical contributions to the information technology revolution in every sense of the word." About Insurance Auto Auctions Insurance Auto Auctions, Inc., founded in 1982, a leader in automotive total loss and specialty salvage services in the United States, provides insurance companies with cost-effective, turnkey solutions to process and sell total-loss and recovered-theft vehicles. The Company currently has 79 sites across the United States. About the Computerworld Honors Program Governed by the Computerworld Information Technology Awards Foundation, a Massachusetts not-for-profit corporation founded by International Data Group (IDG) in 1988, the Computerworld Honors Program searches for and recognizes individuals and organizations who have demonstrated vision and leadership as they strive to use information technology in innovative ways across 10 categories: Business and Related Services; Education and Academia; Environment, Energy and Agriculture; Finance, Insurance and Real Estate; Government and Non-Profit Organizations; Manufacturing; Media, Arts and Entertainment; Medicine; Science; and Transportation. Each year, the Computerworld Honors Chairmen's Committee nominates organizations that are using information technology to improve society for inclusion in the Computerworld Honors Online Archive and the Collections of the Global Archives. The Global Archives represents the 100-plus institutions from more than 30 countries that include the Computerworld Honors Collection in their archives and libraries. Safe Harbor Statement This Report contains forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. In some cases, you can identify forward looking statements by use of words such as "may, will, should, anticipates, believes, expects, plans, future, intends, could, estimate, predict, projects, targeting, potential or contingent," the negative of these terms or other similar expressions. The Company's actual results could differ materially from those discussed or implied herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's annual report on Form 10-K for the fiscal year ended December 26, 2004 and subsequent quarterly reports. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, the Company undertakes no obligation to publish, update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. Additional information about Insurance Auto Auctions, Inc. is available on the World Wide Web at www.iaai.com