Richmond, VA. January 30, 2003 - Despite a weak U.S. economy, international tensions, and a skittish stock market, Tranzon, LLC proved that a good business plan can help a company navigate a tough business environment.

The nationwide auction and accelerated marketing firm announced that 2002 was a record breaker. Business activity was up more than 50% compared to 2001 as the combination of new member companies and growth of existing companies helped the company exceed its original business expectations over 15%.

One highlight of the year included the strategic initiative to expand the company’s business of selling non-real estate assets such as computers, equipment, inventories, furniture and fixtures. The benefit of this service extension was seen in a number of business liquidations in which Tranzon handled both the real estate and the business equipment disposition assignments.

Expansions in the states of California and Texas increased Tranzon’s presence nationally. In May of last year, VenueBid of Houston, Texas, led by Dwight and Kelly Toney, joined Tranzon bringing energy equipment and heavy machinery expertise to the firm. Later in the year, Remarketing Associates, under the leadership of auction veteran Jeff Tanenbaum, merged with Tranzon’s California operations, adding considerable experience in the areas of liquidations and auction of business assets.

Tranzon’s traditional real estate auction strength was also in full bloom last year. Tranzon “cleaned up” in California with a hugely successful auction of a car wash facility and land for the bankruptcy court. The company also conducted its first ever multi-property, multi-seller real estate auction in the Western U.S. The event spanned six western states and involved four Tranzon member companies under the guidance of Ed Durnil and Mike Walters.

Other auction events demonstrated Tranzon’s growing presence and expertise in the office, retail and hotel/motel markets. Retail expert Bill Londrey chalked up a number of successful sales throughout the southeast. Tranzon continued to build its powerful hospitality industry expertise with a key number of hotel and motel sales throughout the U.S.

Highly successful land sales using multi-par technology and bidding techniques were also executed. Tom Saturley’s Tranzon Auction Properties team utilized multi-par in a successful auction of a 1,000+ acre land holding in Maine. Tom Hanley capped the year off with a successful land sale in NY in cooperation with Pennsylvania-based Tranzon Alderfer that generated proceeds 70% above seller expectations.

Tranzon established a new specialty area in convenience stores and service stations in 2002. This effort was highlighted by the successful auction of 20 service stations for Arens Oil Co. of Missouri in September, led by Tranzon’s Steve Fox. That was the single largest accelerated marketing transaction of this asset type in Tranzon’s history. The company also conducted its largest tax sale ever in 2002 under the leadership of John Bippus, assisting seven Michigan counties in liquidating tax delinquent properties.

Another 2002 highlight was the expansion of Tranzon’s developing practice of selling business and intangible assets. Tranzon’s Walt Driggers led a successful intellectual property sale in Florida and Tranzon Fox’s Stephen Karbelk spearheaded a team that sold a portfolio of student loans for the now defunct Computer Learning Centers.

Finally, the continued growth of Tranzon’s website, www.tranzon.com, has proven to be a marketing tool of tremendous value. Traffic on the website quadrupled from the end of 2000 through the end of 2002. The site provides an incredibly cost effective and efficient way to provide information to buyers and to promote sales to Tranzon’s buyer base throughout the country to the benefit of sellers. Tranzon plans on rolling out its latest version of tranzon.com in April of 2003.

Tranzon’s strategy of putting together a national auction and accelerated marketing company that seeks to preserve the best of regional expertise and national resources is proving to be a potent formula for sellers and buyers. Most importantly, the strategy is producing excellent results for its clients.

As to the future, Tranzon intends to continue its slogan of, “transforming assets into energy”-as in “- lots more assets into lots more energy.”

Tranzon has ten member companies that together conducted auctions, sealed bid sales and liquidations in 32 states and the District of Columbia last year. Tranzon professionals specialize in providing real estate and business asset and liquidation auction and accelerated marketing services to corporations, financial institutions, trustees, individuals and estates throughout the U.S. Learn more about Tranzon at www.tranzon.com.