Daniel A. Jauernig joins Classified Ventures
as Executive Vice President.

Fast-growing Internet company continues to build management depth

 

April 3, 2000 - Chicago
Classified Ventures, Inc. today announced Daniel A. Jauernig, 34, formerly chief financial officer of Newcourt Credit Group, Inc. and president of its Newcourt Services division, has joined the company as Executive Vice President.

Classified Ventures is a rapidly growing Internet company whose five Web sites provide nationally branded online classified advertising solutions in the automotive and real estate categories to more than 130 local market affiliates.

"Dan brings considerable expertise in complex financial transactions, strategic planning and overall corporate development at a time when Classified Ventures is experiencing rapid growth," said David G. Israel, President and Chief Executive Officer. "Our ability to attract top talent like Dan, who is the fourth and most significant addition to the management team in the last six months, speaks to the unique business we are building and prospects for our future. His deep experience and strategic thinking will play an important role in moving Classified Ventures toward meeting its aggressive revenue and marketshare goals." The largest Internet company in Chicago, Classified Ventures revenues increased more than 450% last year.

"Classified Ventures' market leadership in competitive vertical spaces, energetic and dynamic staff, unique local market affiliate relationships, and committed investors add up to a unique competitive advantage," said Jauernig. "It's a challenge and opportunity to be joining the company at this important point in its development." He will assume a wide range of responsibilities for Classified Ventures, including corporate development and strategic planning, which encompass the finance, legal, human resources and corporate communications departments.

Jauernig joins Classified Ventures from the former Toronto-based Newcourt Credit Group, a $25 billion global financial services company acquired by the CIT Group in November 1999, where he served as its chief financial officer as well as president of the Newcourt Services division. As chief financial officer, he had overall responsibility for managing the capital structure of the company, which included numerous equity offerings and Newcourt's largest joint ventures. He participated and served as a Director in a venture between Dell Computers and Newcourt Credit Group Inc. that created Dell Financial Services, a $2 billion lender that underwrites and funds all Dell Computer's financed sales. He also served as a Director of Snap-on Credit, a $1 billion joint venture between Snap-on Corporation and Newcourt Credit Group, Inc.

He is an award winning graduate of the University of Waterloo, Canada, where he earned a Bachelor of Mathematics in 1988, and an accredited Canadian Chartered Accountant and Certified Management Accountant.

Jauernig serves as a Director of The Toronto St. Michael's Majors, a Junior A hockey team in Toronto representing a not-for-profit Catholic High School and Canadian Home Income Plan a fast growing reverse mortgage lender in Canada.

Classified Ventures provides nationally branded online services in the classified advertising marketplace that build upon the capabilities and local expertise of a national affiliate network of more than 130 newspapers. The company currently operates five national web sites in the apartment, auction, automotive, relocation, and new home construction markets including Apartments.com™, www.apartments.com, cars.com™ , www.cars.com, MovingCenter™ , www.movingcenter.com and NewHomeNetwork.com™ , www.newhomenetwork.com. Classified Ventures also operates HomeHunter™ , a local resale real estate service on the Web sites of its newspaper affiliates.

Classified Ventures, Inc., based in Chicago, was formed in late 1997. Its investors are eight leading media companies - Central Newspapers, Inc., Gannett Co., Inc., Knight Ridder, The McClatchy Company, The New York Times Company, The Times Mirror Company, Tribune Company and The Washington Post Company.

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