Richmond, VA September 25, 2003 – Superior National Insurance Companies in Liquidation (SNICIL) is back in the headlines with the court-ordered auction of business assets that remain at its Calabasas, CA headquarters. Set for Thursday, October 2, the auction begins at 10:30 a.m. and will be held on corporate grounds at 26541 Agoura Road, off Las Virgines.

Tranzon LLC's California group won the bid to handle the live auction from the California Department of Insurance's Conservation & Liquidation Office. Mike Walters and Jeff Tanenbaum co-head Tranzon's Los Angeles-based California group and say a pre-auction inspection is scheduled the day before, on October 1, from 10:00 a.m. – 6:00 p.m.

According to press statements made in 2000, "Financial examinations of Superior National Companies undertaken by the Department (of Insurance) revealed that the company was in hazardous financial condition and was severely under reserved. This prompted the…company's seizure."

Proceeds from the Tranzon-conducted October 2 auction will go to pay the California-based companies' workers compensation claims.

SNICIL maintained 43 offices in 26 states, the majority of which have been liquidated. The auction of the Calabasas headquarters represents the final phase of the liquidation process.

SNICIL business assets up for auction include an array of high-quality office furniture, computer equipment including those from their tech and communications center newly installed at SNICIL's headquarters less than four years ago, plus artworks, rugs and a full-service cafeteria.

Properly registered individuals may bid in-person or live, on-line at www.Bidspotter.com

A nationwide accelerated marketing and auction group, Tranzon has 11 member companies and 22 offices coast-to-coast that together conducted auctions, sealed bid sales and liquidations in 32 states and the District of Columbia last year -- figures that have grown in 2003.

For more information on how to register for the October 2 auction, contact Tranzon's Jeri Foraker at (818) 879-8180.

Click on this Tranzon link to download a brochure and/or view auction inventory:http://www.tranzon.com/tranzon.aspx?TWGProcess=PropertyDetail&propertyid=2081

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. National headquarters for Tranzon LLC are in Richmond, VA. As of today's date, Tranzon has 122 auction and sales listings in 23 states. Learn more about Tranzon at www.tranzon.com