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KAR Auction Services Seeks to Amend Credit Agreement

November 19, 2012

CARMEL, IN--(Marketwire - Nov 19, 2012) - KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it is seeking amendments to its Credit Agreement, dated as of May 19, 2011 (the "Credit Agreement"), that would provide greater flexibility to the Company, including modifications to increase the amount of restricted payments (which include, among other things, dividends, stock buybacks and other payments made in respect of the Company's equity securities) permitted to be paid under the terms of the Credit Agreement and modifications to a financial covenant to account for such greater flexibility.

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