RM Purchases Former Kruse Auction Park

RM Purchases Former Kruse Auction Park

- RM expands with acquisition of well-known Auburn, Indiana auction park

- New RM subsidiary launched – Auctions America by RM

- Collector car expert, Donnie Gould appointed President of new venture

- Famous Labor Day weekend collector car auction continues this year

AUBURN, Ind., July 1 /PRNewswire/ — Rob Myers, Chairman and Founder of
Canadian-based RM Auctions, the world’s largest collector car auction house,
today announced the purchase of the 235-acre auction park located in Auburn,
Indiana by a subsidiary of RM from long-time automobile auctioneer, Dean V.
Kruse**.

As part of the company’s overall expansion plans, Myers also announced the
formation of Auctions America by RM – a new RM subsidiary created to operate the
recently-acquired auction facility, specializing in the presentation of the
hugely popular 1950s and ’60s classics, customs and muscle car segment of the
collector car market.

RM Auctions continues its annual calendar of events, and the two separate RM
auction entities, each with its own focused brand identity, will seamlessly
serve the entire spectrum of the collector car market with the superior level of
client service for which RM has become known.

Under the Auctions America by RM banner, the tradition of staging what was once
the world’s largest automobile auction held in conjunction with the Auburn,
Cord, Duesenberg Festival each Labor Day weekend, will mark its 40th year,
September 2 to 6, 2010 in Auburn.

“The very first collector car auction I attended was the one held on Labor Day
weekend in Auburn back in 1974. The ACD Festival and auction weekend has been a
tradition for me ever since,” stated Myers. “All of us within the RM group of
companies are very excited to take on these new opportunities and we look
forward to upgrading the auction park and continuing to serve our clients and
friends with a venue like Auburn.”

Donnie Gould, RM Auctions partner and collector car expert, has been appointed
President of Auctions America by RM. Gould will work closely with Ed Cepuran in
his new role as Chief Financial Officer of RM’s new subsidiary. Serving as
General Manager, the day-to-day aspects of the business will be overseen by RM
car specialist, Ken Wallace.

“RM Auctions has so many customers active in the buying and selling of muscle
cars, customs, street rods and just plain great old cars that we simply cannot
service them all with our existing venues,” said Gould. “We believe the Auburn
location is ideal for this biggest segment of the market with its freeway
access, huge parking lots, and motorcoach and swap meet facilities. We are all
very excited to get started.”

The Auburn Auction Park is located at 5540 County Road 11-A, Auburn, IN 46706.
Originally opened in 1989, it is considered one of the best facilities of its
kind by car enthusiasts from across the country. For more information or to
consign a car to this year’s Labor Day weekend auction, please call
1-877-906-2437.

Footnote:

**Dean Kruse and/or any of the Kruse Companies do not have any vested or legal
interest in the Auctions America by RM company, its auctions and/or in the
Auburn auction park real estate.

About RM

With over three decades of experience in the collector car industry, RM’s
vertically integrated range of services, from restoration to private treaty
sales, auctions, estate planning and financial services, coupled with an expert
team of car specialists and international footprint, provide an unsurpassed
level of service to the global collector car market. RM’s restoration division
has achieved unprecedented accolades earning “Best of Show” honors at the
world’s top concours events.

SOURCE RM