iMotors.Com Partners with Bechtel to Support Rapid National Rollout

World's Leading Construction and Development Firm to Build iMotors' National Infrastructure of Vehicle Certification Centers

January 12, 2000—iMotors.com, the Internet's first e-commerce used car retailer, announced today that it has entered into an exclusive, $300 million, multi-year program with Bechtel to design and construct up to 30 of its state-of-the-art Vehicle Certification Centers (VCCs) worldwide.

iMotors' VCCs are the largest, most sophisticated automotive reconditioning, facilities for used cars in the world. At the iMotors VCCs, cars undergo a thorough, 129-point inspection, reconditioning, and certification process. iMotors currently operates one VCC in Sacramento, which supports customer deliveries for all West Coast markets. The next iMotors VCC will open on the East Coast to allow a rollout in major East Coast cities. By year-end 2000, iMotors will open VCCs to support customer fulfillment in over 35 cities, covering more than 60% of the U.S. used car market.

Through this extensive program, Bechtel will provide iMotors with a rapid, turnkey solution to build out their national infrastructure. Bechtel will assist iMotors with site evaluation, offer program management services, provide engineering and design services, and oversee material and equipment supply and construction management services as general contractor.

"Our exclusive partnership with Bechtel marks a tremendous opportunity for iMotors," said iMotors CEO Adam Simms. "Being able to leverage the expertise of the world's premier engineering-construction company will ensure that we have a smooth and rapid national roll-out and that we will be able to continue to focus on our customers as we grow our business."

"The iMotors VCC Program is an important project in our rapidly expanding e-commerce business," said Thomas R. McKinney, Bechtel Principal Vice-President. "Like other customers such as Webvan, iMotors leverages both the Internet and a complex physical infrastructure to deliver a higher quality product to the consumer. We are looking forward to providing our expertise to fortify their expansion plans and help them replicate the success they've had in their launch markets."

How iMotors Works:

• Used car shoppers begin by getting a quote at www.imotors.com. There, they can order a car, truck, SUV, or minivan by specifying the make, model, options, and colors they desire. They then place a $250 deposit via credit card through iMotors' secure server.
  
• When the order is received, iMotors' team of experienced buyers goes to work. They tap the company's network of off-lease vehicles and commercial auctions, and sometimes will buy at wholesale from a local dealer or private individual, if that is what it takes to fill an order. Once found, each vehicle must pass an initial quality check, including title search, after which iMotors transports the car or truck to the state-of-the-art Vehicle Certification Center (VCC).
  
• At the VCC, each vehicle undergoes a 129-pt. inspection, exterior and interior cosmetic detailing, minor mechanical repair, and preventative maintenance performed by ASE-certified mechanics and technicians. The third and final quality check includes a re-inspection and test drive.

Vehicles are then delivered to a local delivery center. Each vehicle comes with an iMotors, exclusive--an AutoBiography™, which includes the vehicle's inspection report, a detailed list of any service and maintenance work completed by iMotors, and a title history report. All iMotors vehicles come with a 7-day/700-mile money-back guarantee, a 3-month/3,000-mile warranty, and any factory warranties still in force.

About iMotors
iMotors.com was launched in September 1999 as the Internet's first real e-commerce auto company, allowing customers to order and purchase used vehicles online. iMotors.com is a privately held company, backed by a renowned group of investors with successful track records at leading land-based retail and Internet/e-commerce businesses. Investors include Oak Investment Partners, Global Retail Partners, Trinity Ventures, Vulcan Ventures, Rosewood Capital Partners, Moore Capital Management, Inc., and MeriTech Capital Partners.

About Bechtel
Bechtel is a premier engineering, construction, development, and management organization with a century of experience and about 40,000 employees worldwide. In 1998 Bechtel booked $13.3 billion in new work and worked off $12.6 billion in revenue. The company is engaged in about a thousand projects in 60 countries. Bechtel is headquartered in San Francisco, with more than 60 offices worldwide.