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KAR Auction Services Announces Pricing of Secondary Offering of Common Stock

CARMEL, IN -- (Marketwire) -- 12/05/12 -- KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today the pricing of a secondary offering of 13,500,000 shares of its common stock at $17.50 per share.

The selling stockholder, KAR Holdings II, LLC (the "LLC"), is selling all of the 13,500,000 shares. The LLC is controlled by entities affiliated with Kelso Investment Associates VII, L.P., GS Capital Partners VI, L.P., ValueAct Capital Master Fund, L.P. and Parthenon Investors II, L.P. The underwriters have a 30-day option to purchase up to an additional 2,025,000 shares from the LLC. The Company will not receive any proceeds from the offering.

The offering is being made pursuant to the Company's existing effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Barclays Capital Inc., BMO Capital Markets Corp., BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as lead managers for the offering. Robert W. Baird & Co. Incorporated, Barrington Research Associates, Inc., BB&T Capital Markets, a division of Scott & Stringfellow, LLC, and Stephens Inc. are acting as senior co-managers.

When available, copies of the final prospectus supplement and accompanying prospectus related to this offering may be obtained from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, or by telephone at 1-800-221-1037, or by email at newyork.prospectus@credit-suisse.com; Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at 1-866-471-2526, or by facsimile at 1-212-902-9316 or by email at prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 1-866-803-9204.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About KAR Auction Services

KAR Auction Services, Inc. is the holding company for ADESA, Inc. ("ADESA"), Insurance Auto Auctions, Inc. ("IAA") and Automotive Finance Corporation ("AFC"). ADESA is a leading provider of wholesale used vehicle auctions with 68 North American locations and its subsidiary OPENLANE provides a leading Internet automotive auction platform. IAA is a leading salvage vehicle auction company with 162 sites across the United States and Canada. AFC is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 104 sites across the United States and Canada. Together, the Company provides a unique, comprehensive, end-to-end solution for its customers' remarketing needs.

Eric Loughmiller
Executive Vice President and Chief Financial Officer
(317) 249-4254
eric.loughmiller@karauctionservices.com

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