KAR Auction Services Announces Secondary Offering of Common Stock

KAR Auction Services Announces Secondary Offering of Common Stock 
CARMEL, IN -- (Marketwired) -- 06/03/13 --  KAR Auction Services,
Inc. (NYSE: KAR) (the "Company") announced today the commencement of
an underwritten offering of 15.0 million shares of its common stock
by existing stockholder KAR Holdings II, LLC (the "LLC"), subject to
market and other conditions. 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 Company will not receive any proceeds from the
offering. In connection with the offering, the LLC intends to grant
the underwriters an option to purchase up to 2.25 million additional
The offering will be 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. When available, copies of the 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
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 lead
ing provider of wholesale
used vehicle auctions with 67 North American locations and its
subsidiary OPENLANE provides a leading Internet automotive auction
platform. IAA is a leading salvage vehicle auction company with 163
sites across North America. AFC is a leading provider of floorplan
financing to independent and franchise used vehicle dealers with 104
sites across North America. Together, the Company provides a unique,
comprehensive, end-to-end solution for its customers' remarketing
Forward-Looking Statements 
Certain statements contained in this release include "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and which are subject to certain risks, trends and
uncertainties. In particular, statements made that are not historical
facts may be forward-looking statements. Words such as "should,"
"may," "will," "anticipates," "expects," "intends," "plans,"
"believes," "seeks," "estimates," and similar expressions identify
forward-looking statements. Such statements are not guarantees of
future performance and are subject to risks and uncertainties that
could cause actual results to differ materially from the results
projected, expressed or implied by these forward-looking statements.
Factors that could cause or contribute to such differences include
those matters disclosed in the Company's Securities and Exchange
Commission filings. The Company does not undertake any obligation to
update any forward-looking statements. 
Eric Loughmiller
Executive Vice President and Chief Financial Officer
(317) 249-4254
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