NASHVILLE, Tenn. and OCALA, Fla., May 24 /PRNewswire-FirstCall/ -- Acacia Automotive, Inc. (OTC:ACCA) today announced that it has recently executed a Letter of Intent to acquire the Augusta Auto Auction. The terms were not immediately disclosed. "This auction is a great starting point for our new group, and it comes complete with a classy management team. It will be exciting to watch its transformation into a modern, vibrant operation in the brand new facility adjacent to Augusta's airport" said Steve "Junior" Sample, the Company's CEO. "Augusta is a dynamic community with all the ingredients and demographics necessary to nurture a full-service auto auction, and Acacia Automotive has the leadership to make it happen." The new auction location is adjacent to the airport just off I-520 in Augusta, and is currently undergoing development of its 43 acre infrastructure, including roadways and utilities. Sample continued: "Every auction wants to be close to the local airport, and ours is directly across the street. The airport's brand new passenger terminal building will be less than two minutes from our office. We are truly excited at the potential this auction offers." The auction is being purchased from a group of Augusta businessmen headed by Mr. Frank Lawrence, a prominent automobile dealer in the community. "While the auction business was very exciting, I made a tactical decision to concentrate my efforts on our core retail automotive business", said Lawrence. "Bobby Jones Ford has been very good to me and our employees, and with our recent acquisition of the local Lincoln-Mercury franchise we decided that it was in our best interests to give our full attention to those operations. We were impressed by Acacia Automotive's management team and their plans to keep the auction as an integral and growing part of our community, and we welcome them to Augusta." Tony Moorby, Acacia's President and COO, has known Lawrence for over twenty years. "I got to know Frank quite well from his many visits to our Nashville Auto Auction facility when I was with ADT Automotive and he was a car dealer. He was a great client for ADT, and we hope to have him as a great client for Acacia." Moorby continued: "Frank's dedication to the success of his dealerships is an indicator of his business discipline. He knows that you can't serve two masters, and he has made the decision to follow his heart by devoting himself to his dealerships. We appreciate Frank's trust and confidence in our ability to take the auction to the next level." Moorby concludes: "I've said this is an exciting time to be around the automotive auction business because of its many changes, and I've always maintained that there are opportunities where changes exist. Augusta is living proof. We have done a superb job in structuring Acacia to make it ready to become fully funded and take advantage of acquisition opportunities. Augusta is the first step in our journey to become an industry leader." Closing of the final Purchase Agreement is scheduled for early June. About Acacia Automotive, Inc. Acacia Automotive (http://www.acacia.bz/) is the newest member of the auto auction industry, but comes with seasoned veterans in management. Acacia's management believes there were once three companies in balance that provided the industry's clients with a solid stance and fair choice. That balance was destroyed when one leg was eliminated with the sale and subsequent absorption of ADT Automotive in 2000. Acacia intends to bring back that balance and return a much-needed stabilization to the industry because it believes "competition is a good thing". The Company intends to incorporate innovation, diversification, technology, and above all - the highest level of service and integrity in the industry today to propel it toward its goals by offering a variety of options such as: Full-service automobile, truck, equipment, boat, motor home and RV auctions; vehicle inspection and marshaling; transportation; wholesale dealer floorplanning; vehicle reconditioning and certification services; online auctions, and more. Moving its headquarters to Nashville, Tennessee, in mid-2007, Acacia Automotive will be more centrally located to better accommodate commerce throughout the United States. This release includes forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Such statements, including information and statements regarding anticipated financial results, potential success of anticipated acquisitions, business operations, product marketing and potential market opportunities are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected, expressed, or implied by such forward-looking statements. The forward-looking statements in this document are made as of the date of publication hereof and the Company does not undertake to update its forward-looking statements. Acacia Automotive, Inc. 3512 East Silver Springs Boulevard #243 Ocala, FL 34470 For information please contact Investor Relations at Com: (352) 427-6848 Fax: (352) 502-4873 Email: Internet: http://www.acacia.bz/ DATASOURCE: Acacia Automotive, Inc. CONTACT: Investor Relations of Acacia Automotive, Inc., +1-352-427-6848, fax: +1-352-502-4873, Web site: http://www.acacia.bz/

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