Richmond, VA June 23, 2004- Tranzon, L.L.C. , one of the nation's largest auction enterprises, recently honored three members for distinguished service at the group's annual convention held this year in Atlanta, GA.

Virginia's Stephen Karbelk, Sharon Lefler, of Florida, and Thomas Saturley, of Maine, are the first recipients of Tranzon's Founders Award, created this year to honor members of the Tranzon team who "demonstrate initiative, cooperation, professionalism, respect for peers, integrity, helpfulness, high quality work and service to the clients, and overall contribution to the mission of Tranzon," according to Tranzon President Jeff Levin.

Awards are given in three categories: operations and marketing; sales; and management. Selection is based on peer nominations.

Stephen Karbelk, CAI, AARE, named the Founders Award recipient in the sales category, is executive vice president of Tranzon Fox, which manages Tranzon auctions in the Washington, D.C.- metropolitan area as well as Virginia and North Carolina. Karbelk, who works out of the Burke, VA office, is a member of Tranzon's executive committee and a special consultant to Tranzon's president on technology issues. Additionally, he was one of the principal architects of Tranzon's web site, which receives up to 76,000 hits in a given day, with an average of 800,000 hits a month.

Karbelk is a nationally recognized expert in bankruptcy and foreclosure auctions. Additionally, he is accomplished in marketing and selling entire companies, either as turn-key operations or as ongoing concerns. His professional affiliations include memberships in the American Bankruptcy Institute, National Association of Bankruptcy Trustee's, Turnaround Management Association, National Auctioneers Association and Virginia Auctioneers Association. Tranzon honored him for his stellar record in new business development and sales.

Sharon H. Lefler, the Founders Award honoree in the operations and marketing category, is regional vice president of Tranzon Driggers, which operates out of an office an hour north of Tampa, FL. Lefler was recognized based on the outstanding service she provides Tranzon clients, her great interaction with other Tranzon associates and her outstanding contributions

to the Tranzon team's auction marketing efforts. A licensed real estate associate in Florida, Lefler joined Tranzon Driggers in 1998 and manages the Florida group's auction marketing program. She has played a key role in developing Tranzon's corporate branding and marketing strategies, serving on Tranzon's corporate marketing committee from 2000 through 2003. Lefler is a resident of the Nature Course section of Florida near Hernando.

Thomas W. Saturley, CAI, is president of Tranzon Auction Properties -- which serves Tranzon's New England from offices in Portland, Maine. The Founders Award recipient in the management category, he is honored for his contributions to Tranzon's overall success, including management advice that has helped to create a values-based corporate culture infused with high ethics and sense of fair play.

Saturley has served on Tranzon's management and executive committees since it's inception in November of 2000 and has played a key part in guiding the growth of Tranzon and recruiting industry leaders to the Tranzon team.

Saturley, who holds a law degree, also has a background in business management as well as real estate and auction marketing. Licensed to sell real estate and conduct auctions in Maine, New Hampshire, Massachusetts and Vermont, he is a member of the National Auctioneers Association's Board of Directors and the Auction Marketing Institute. Saturley, who lives in the Cape Elizabeth suburb of Portland, also is active in his community and was awarded the 2002 Humanitarian of the Year Award by the Spurwink Institute.

"Stephen, Sharon and Tom have been with Tranzon since the beginning and have played critical roles in helping to make us one of the fastest-growing operations in the auction business. We are taking a leadership role in the real estate auction industry and the efforts of these three greatly contribute to our successes there and in other areas as well," says Levin.

"It's important we recognize the individual contributions of key Tranzon members, for its these efforts that make the whole operation work better," according to Levin, who says this year's Founders Award will become an annual event.

Headquartered in Richmond, VA, Tranzon has 12 member companies and 23 offices across the U.S. Tranzon has conducted auctions in 41 states and DC and has sold more than 4,000 properties at auction since it's founding in November of 2000. Tranzon professionals provide accelerated marketing and auction sales services to corporations, financial institutions, trustees, individuals and estates plus the real estate industry throughout the U.S. Learn more about Tranzon at www.tranzon.com