BRENTWOOD, Tenn., Sept. 24 /PRNewswire-FirstCall/ -- Acacia Automotive, Inc. (Pink Sheets: ACCA) announced today that it has been reconfirmed as a member of the National Auto Auction Association (NAAA) through its newly- acquired Augusta Auto Auction operation. The NAAA's action followed a vote during the recent convention in Chicago, having been required subsequent to the change of ownership by the Augusta unit, which was already an NAAA member. "I have been a dedicated supporter of the NAAA for 25 years since coming to America from British Car Auctions, and look forward to continuing that great relationship under the Acacia marquis," said Tony Moorby, Acacia's President and COO. "The NAAA has done many wonderful things for our industry, and we intend to be there supporting its future efforts on behalf of the auto auction community." Moorby is a member of the NAAA Hall of Fame, having been inducted when he was President and CEO of ADT Automotive, one of America's largest auction chains, in 1999. Acacia Automotive has recently engaged in acquisition discussions with several auctions, and hopes to add one or more to its portfolio by the end of the year. Moorby continued: "This convention was very fruitful for us in opening the door to several opportunities, not only relative to auction acquisitions but also to other unique and very interesting relationships. As a publicly-traded company with momentum in our favor, combined with our new state-of-the-art operating system being installed later this year and the potentials for fantastic synergies which could emerge from these other discussions, we are very excited about our current posture. The door has also been opened with some investment bankers who have found interest in our plans. There is certainly no shortage of activity on the radar screen for Acacia Automotive!" Upon completion of the company's current round of fundraising activities, Acacia intends to move forward with its current auction acquisition plans. "We are very excited after visiting a number of auctions during a recent fly- around," said Moorby. "That trip yielded some real eye-openers and gave us very solid targets for this round of acquisitions. We could not be more pleased." About Acacia Acacia Automotive, Inc. (http://www.acacia.bz/) is America's newest publicly- traded whole-car auction holding company, but comes with seasoned veterans in management. Acacia believes there were once three companies in balance that provided the industry's clients with a solid stance and fair choice. That balance was toppled 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, believing that "competition is a good thing." Acacia's plans include acquiring approximately four additional vehicle auctions per year well into the future, even as it considers other ancillary opportunities. The company moved its headquarters to Brentwood, Tennessee, September 1st, becoming 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. For information please contact Investor Relations at: Acacia Automotive, Inc. The Gardner Building - Suite 104 5214 Maryland Way Brentwood, Tennessee 37027 Com: (615) 309-0644 Fax: (615) 866-0144 Email: Internet: http://www.acacia.bz/ DATASOURCE: Acacia Automotive, Inc. CONTACT: Investor Relations of Acacia Automotive, Inc., +1-615309-0644, or fax, +1-615-866-0144, Web site: http://www.acacia.bz/

Copyright