PORTLAND, Ore. – June 24, 2003 – TitleAuctions, a technology company that delivers robust, Internet-based competitive-bid auction tools to lenders, dealers and community portals, announced today they have been approved as a service provider for Credit Union Association of the West (CUAW).

The agreement positions CUAW as the exclusive marketing partner for TitleAuctions competitive-bid auction tools for credit unions throughout the West coast, including Washington, Oregon, California and Nevada. TitleAuctions is one of only a few hand-picked service providers CUAW has approved, establishing their product as a beneficial solution to credit unions.

"TitleAuctions is the prime example of the kind of company the CUAW wants to promote," said Sallie Sylvester, Senior Vice President of credit union services for the Credit Union Association of Oregon and member of the CUAW Board of Directors. "It provides an innovative service of genuine value to credit unions, and its founders are committed to the credit union movement."

TitleAuctions enables credit unions to set up auction-style sites for sale of their repossessed collateral. Through the service, credit unions can choose to customize the auction to fit within their site as a service for their members only, or list the vehicles on www.titleauctions.com for members nationwide. Credit unions currently using the solution report sale prices up to 13% higher than wholesale value.

"A relationship with the CUAW league is a good strategic fit for us," said Mark Coleman, CEO, TitleAuctions. "Being an approved partner of the CUAW sends a strong signal to credit unions that we’re committed to serving their unique needs, and that we’ll remain committed over the long term."

For more information, visit www.titleauctions.com.

About TitleAuctions

TitleAuctions delivers robust, Internet-based competitive-bid auction tools to lenders, dealers and community portals nationwide. Founded in October 2002 by two Portland, Oregon-based entrepreneurs, TitleAuctions began offering a market-ready service in March 2003 to credit unions and their members. With the TitleAuctions venue, local lenders, neighborhood dealers and community portals can increase their profits by combining the power of competitive bidding with the trust that comes from local relationships.


About Credit Union Association of the West
CUAW is a joint endeavor of the California, Nevada, Oregon, and Washington credit union leagues. The umbrella organization removes the barriers for delivering the best-selected products, services, and educational resources to the four states. From the extensive list of products and services available, CUAW extracts those that are most relevant and beneficial for credit unions, and provides them at a substantial savings. The CUAW leagues represent a total of more than 960 credit unions with nearly $100 billion in assets.

TitleAuctions Contact:
Laurie Erickson
Charisma! Communications
503-245-3140
laurie@charismacommunications.com

CUAW Contact:

Amy Drew
Credit Union Association of Oregon
503-641-8420
amyd@cuao.org

Learn More. E-mail info@titleauctions.com or call 503-344-5001.