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Preferred Warranties Names New President

November 17, 2014

For Immediate Release

Contact: Helen Sluzis, Director of Marketing
Preferred Warranties, Inc.
200 Pinebook Place
Orwigsburg, PA 17961
Phone: 800.548.1121
hsluzis@warrantys.com
www.warrantys.com

Investor Inquiries:
Contact Jonathan Peisner, Treasurer & VP of Investor Relations
Phone: 317.249.4390
jonathan.peisner@karauctionservices.com

Preferred Warranties Names New President

Orwigsburg, Penn. —Preferred Warranties, Inc., a business unit of KAR Auction Services (NYSE: KAR), today announced that it has named Brian Cosgrove as president. PWI is a leading provider of vehicle service contracts for pre-owned vehicles.

Cosgrove joined PWI as vice president of marketing and sales in January 2014 and brings to his new role nearly 30 years of experience in leadership, management, business development, sales and marketing.

“I am honored to be part of PWI and to have the opportunity to lead us as we expand our footprint and continue to leverage our strengths throughout the U.S. to serve the independent dealer,” said Cosgrove.

PWI provides extended service contracts, backed by high marketplace ethics and supported by an award-winning customer service team. PWI claims are handled by experienced professionals, not a third-party administrator. Dealers and customers who call Preferred Warranties’ toll-free hotline are always greeted by friendly, knowledgeable service representatives—never a recording or automated phone system.

“Brian has a multitude of experience in building sales teams from the ground up and has already made a number of positive impacts in his most recent role as PWI’s VP of sales and marketing. He has the right leadership qualities and business acumen to help drive future growth at PWI,” said Jim Money, CFO of Automotive Finance Corporation.

Prior to joining PWI, Cosgrove was general manager and vice president of sales for Corporate Environments, a One Point Company. Prior to that, he had been with Automatic Data Processing (ADP) in management roles, including regional manager in the auto dealer services division and vice president of sales, major markets in its insurance services division.

Based in Orwigsburg, Pennsylvania, Preferred Warranties, Inc., has been a quality leader in aftermarket protection plans since the company was founded in 1992. In May 2013, PWI joined the KAR Auction Services, Inc. group of companies.