Los Angeles, CA, April 15, 2003 - Tranzon, LLC, announces the expansion of its California region through the merger of Tranzon Walters and Remarketing Associates. The new company will immediately begin trading under the name Tranzon Asset Strategies and will operate from two offices in the Los Angeles metropolitan area.

The merger partners two of the premier auction and accelerated marketing firms on the West Coast, providing clients with an expanded list of skills and abilities.

Tranzon Walters, led by second generation auction professional Mike Walters, has been a pioneer in the area of real estate auctions in California. Mr. Walters began his auction career in 1973 and has executed hundreds of auction sales of real estate, telecommunications equipment, and other business assets. His company provides asset disposition services to individuals, developers, corporations, financial institutions, bankruptcy courts and governments.

Recent coups for Tranzon Walters were its successful liquidation of the failed Superior Bank’s offices for the FDIC, the sale of a car wash property in Laguna Woods and the sale of a restaurant property in Laguna Beach. The company additionally led two major multi-state real estate auctions for Tranzon spanning seven Western states in October and February.

Auction veteran Jeff Tanenbaum heads Remarketing Associates. Mr. Tanenbaum started his auction career in 1985 at Great American Auctioneers where he rose to senior management positions before striking out on his own, founding Remarketing Associates in 1995.

Remarketing Associates concentrates on the disposition of business assets and has developed a broad range of specialty areas including technology equipment, entertainment industry-related assets, retail and wholesale inventory liquidations, and commercial asset sales. The company’s elite client list includes Apple Computer, ExxonMobil, and Read-Rite Corporation, among others.

Both Mr. Walters and Mr.Tanenbaum are senior partners of Tranzon Asset Strategies.

Jeff Levin, president of Tranzon LLC, said, “We expect Jeff Tanenbaum and his team to play a leading role in expanding our West Coast business and in building out Tranzon’s nationwide Business Asset and Liquidation specialty area. Jeff is a proven results-oriented leader in our business. Combining Jeff’s talents with Mike Walter’s knowledge and experience in selling real estate and technology assets gives Tranzon an exceptional team to take advantage of huge business opportunities on the West Coast.”

To reach Jeff Tanenbaum call 818-879-8180 ext. 108 or E-mail him at jtanenbaum@tranzon.com. Contact Mike Walters at 949-727-9011 or mwalters@tranzon.com.

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.