Richmond, Virginia and Hatfield, Pennsylvania, July 19, 2001 - Tranzon, L.L.C. announced that Sanford A. Alderfer, Inc., the real estate company affiliated with The Sanford Alderfer Auction Company, has joined Tranzon as one of its member companies. Sanford A. Alderfer, Inc., which will begin to trade under the name Tranzon Alderfer, operates primarily in Pennsylvania and New Jersey.

Tranzon is the first truly national auction firm whose member companies specialize in selling real estate and significant business assets at auction. The Tranzon companies have successful auction experience in all types of real estate, combining the market savvy and expertise of regional companies with the resources of a national organization. Member companies may join by invitation only, and are selected based on stringent criteria focusing on service excellence, reputation, and expertise.

The Sanford Alderfer Company was founded by Sanford A. Alderfer in 1959 and has grown into one of the leading sales and service organizations in the Delaware Valley. Alderfer Auction Company has long been recognized as a leader in the auction industry, selling personal property and real estate at auction successfully for the past 42 years. The decision to separate the personal property side from the real estate side will not affect Alderfer Auction Company, which will continue to hold its weekly personal property auctions from its Hatfield location. Tranzon Alderfer, focusing solely on real estate, will continue to be based in Hatfield, and will also operate from an office in West Chester, PA.

In connection with this announcement, co-owners Sanford L. Alderfer and Vernon L. Martin have been named regional officers of Tranzon L.L.C. and have been elected to Tranzon, L.L.C.'s Executive Committee. Jeff Levin, President of Richmond, Virginia-based Tranzon, L.L.C., remarked, "We are excited to associate with Sandy and Vernon and their real estate auction team. The strength of the Alderfer organization and its reputation for service and integrity, combined with Tranzon's depth of resources and expertise, will make for an extraordinary team."

Sanford L. Alderfer has been in the auction and real estate business since 1972. He is CEO of the Sanford Alderfer Company, which includes Alderfer Auction Company, Atlantic Moving Service, Astro Tent Rental and Alderfer Transport. Alderfer’s list of accreditations includes the Certified Auctioneers Institute (CAI), Graduate Realtor Institute (GRI) and Graduate Personal Property Appraiser (GPPA). His memberships have included the Lehigh Valley Society of Auctioneers, the Pennsylvania Association of Auctioneers, and the National Auctioneers Association. He is a past president of the Lehigh Valley Society of Auctioneers, past president of the Pennsylvania Association of Auctioneers, and a past member of the Board of Governors for the Auction Marketing Institute.

Vernon Martin has been in the auction and real estate business since 1972. His extensive list of accreditations includes The Realtors Institute and the Certified Auctioneers Institute where he received the AARE designation in 1994. Vernon's professional memberships have included the Lehigh Valley Society of Auctioneers, the Pennsylvania Association of Auctioneers, the National Auctioneers Association, the International Association of Appraisers, and the Local, State and National Association of Realtors. He is a past president of the Pennsylvania Association of Auctioneers, and was named 1991 Auctioneer of the Year by the Pennsylvania Auctioneers Association. In addition, Martin was inducted into Pennsylvania Auctioneers Association Hall of Fame in 2000.

With Alderfer's success rate selling real estate at auction, people may wonder why the company would join the Tranzon team. Sanford L. Alderfer explains, "Tranzon combines some of the most successful and highly respected real estate auction companies in the country. The depth of experience, expertise and track record of success that we can bring to our buyers and sellers through Tranzon Alderfer is very exciting. We now have a network to effectively address virtually any real estate or major business asset disposition need." Through the Tranzon network, Alderfer's will have member firms available throughout the northeast and southwest corridors to assist in servicing buyers and sellers with property needs outside of its area. Likewise, Tranzon Alderfer will become the Northeast service provider for other Tranzon member firms, assisting them with transactions throughout the state of Pennsylvania and most of New Jersey.

Tranzon currently consists of seven member companies with 18 offices throughout the eastern United States and Texas. Last year, the Tranzon companies conducted approximately 1,000 auctions in 27 states. The Tranzon companies specialize in providing real estate and significant business asset auction services to institutions, trustees and individuals throughout the US.

For more information, contact:
Sandy Alderfer, Phone (800) 577-8845