New Investment in Autobytel.Europe

Inchcape PLC
6 January 2000


Inchcape furthers e-commerce strategy through
investment in Autobytel.Europe


Inchcape plc, the world's largest independent automotive distribution group,
today announced that as part of its strategic drive into e-commerce services
it has made a significant investment in Autobytel.Europe.

The Inchcape Group, which owns 100% of Autobytel in the UK, has taken a 7.3%
equity interest in Autobytel.Europe - a newly formed subsidiary of US-based
Autobytel.com, the global automotive e-commerce provider - for an investment
of US$10 million.  Inchcape also has a 3% interest in Autobytel.com (Nasdaq:
ABTL).  

Autobytel.Europe plans to open Internet websites throughout Europe, including
Germany, France and the Netherlands.  It will license, invest in and offer
joint services to national operating companies to help them implement the
Autobytel.com service and develop the brand in their respective markets.

Peter Johnson, Group Chief Executive of Inchcape, said: 'E-commerce is an
integral part of Inchcape's consumer focused strategy.  This is an exciting,
fast-moving business and we continue to be at the forefront of developments. 
We have been greatly encouraged by the success of Autobytel UK, which we
launched in April last year and which has already generated over one million
unique visitors, and we are delighted to have this opportunity to expand our
relationship with Autobytel.com throughout Europe.'

Mark Lorimer, President and CEO of Autobytel.com, said: 'Inchcape is one of
the most visionary companies we have met in the motors business anywhere in
the world.  Their involvement in Autobytel.Europe is one of the main reasons
we are so confident of its success.'

More than 26 million new and used cars are sold annually in the three biggest
European markets - France, Germany and the UK.  Recent studies estimate the
number of adults online in Europe is expected to grow from 34 million
currently to 100 million by 2003, and that revenue from European e-commerce is
expected to increase from $32 billion this year to $425 billion by 2002.

Autobytel.com created car buying on the Internet in the United States in 1995
and controls 45% of the American online automotive market.  The company has
been ranked the 8th most-recognised brand name among all e-commerce companies.

Inchcape (www.inchcape.com) operates in 30 international markets, representing
many of the world's leading car manufacturers.  The Group's activities include
import and distribution; retail of new and used cars; financial services,
including consumer and dealer finance, insurance and leasing; and e-commerce.

Notes to Editors:
Autobytel UK launched its website service on 30 April 1999, offering consumers
the ability to research, compare and contrast all models - free of charge -
and place a purchase request for a car online.  Once the purchase request is
placed, it is forwarded to the nearest Autobytel accredited dealer who will
contact the customer with a 'no hassle, no haggle, best value' price within 24
hours.  Autobytel dealers are part of the existing UK dealer franchise network
and are an essential part of the fulfilment process.  Autobytel UK is not a
broker or reseller of new vehicles.


Issued by and enquiries to:     Inchcape plc 
                                Stephen Clark
                                Group Communications Director                 
                                0207-546 8250 
                                
                                Bridget Gander                                
                                Head of Investor Relations                    
                                0207-546 8394                 
          
                  
The press release issued by Autobytel.com follows.


Autobytel.com Announces Formation of Autobytel.Europe

Internet Giant to Offer Auto E-Commerce throughout Continent;
Inchcape, Pon Holdings and GE Equity Join First Funding Round

London, UK - January 6, 2000 - Autobytel.com (Nasdaq: ABTL), the global
automotive e-commerce provider, today announced that it is completing the
initial funding of Autobytel.Europe and plans to open Internet websites
throughout Europe.  Autobytel.com, Inchcape plc, Pon Holdings B.V. and GE
Equity combined to invest an initial $27 million in Autobytel.Europe.  

Inchcape plc will invest $10 million in Autobytel.Europe for a 7.3% equity
interest and Pon Holdings B.V. will invest $2 million for a 1.5% equity
interest.  Autobytel.com will invest $5 million and gave Autobytel.Europe a
perpetual license, retaining an 83.9% equity interest.

The Amsterdam-based Autobytel.Europe will license, invest in and offer joint
services to national operating companies throughout Europe to localize the
Autobytel.com offerings while building its brand name among consumers in
individual countries, as well as on a Pan-European and regional basis. 

'We have been studying the automotive distribution systems throughout Europe
for almost two years, learning the ins and outs of the various car markets and
getting to know the players in each country,' said Mark Lorimer, President and
CEO of Autobytel.com.  'For years, European consumers have been demanding a
better way to buy, sell, finance, insure and maintain cars. Now, Autobytel is
going to give it to them.'

Autobytel.com created car buying on the Internet in the United States in 1995
and enjoys 45% of the American online auto market.  The Company has been
ranked the 8th most-recognized brand name among all E-commerce companies in
the States.  'We have the international operations experience to make a single
brand work throughout Europe,' continued Lorimer, who will serve as Chairman
of Autobytel.Europe.  'The success of Autobytel.co.uk (UK), Autobytel.se
(Sweden), Autobytel.ca (Canada), and Autobytel.jp (Japan), as well as what
we've learned readying Autobytel.ne (Netherlands), Autobytel.no (Norway),
Autobytel-fi.com (Finland) and Autobytel.dk (Denmark) for launch, give us
great experience marrying our technology and, more importantly, our core
Autobytel consumer propositions, to the local auto distribution systems.'

More than 26 million new and used cars are sold per year in the three biggest
European markets - France, Germany and the UK.  Recent studies estimate the
number of adults online in Europe is expected to explode from 34 million
currently to 100 million by 2003, and that revenue from European e-commerce is
expected to grow from $32 billion this year to $425 billion by 2002.  'Europe
is the perfect place for Autobytel right now - better than the U.S. when we
started,' said Lorimer.  'Europeans have begun a revolution of rising
expectations which is already changing the way business is done.  E-commerce
will accelerate those changes which, perhaps, will be the most profound in the
car business.'

'We are a global business, and you cannot lead globally unless you lead in
Europe,' said Robert S. Grimes, Executive Vice President of International
Development for Autobytel.com.  'Europe is the world's biggest industrialized
market, and the changes being brought about by increasing economic integration
create huge opportunities for Autobytel.com.  Our core international
development strategy, of partnering with the best in each country to insure
smooth navigation of the local distribution systems, is the model we followed
in forming Autobytel.Europe - and why we are so excited about being joined by
Inchcape, Pon Holdings and GE,' said Grimes.

Peter Johnson, Group Chief Executive of Inchcape plc, the world's largest
independent automotive distribution group, said, 'We have been greatly
encouraged by the success of Autobytel UK, which we launched in April last
year and which has already generated over one million unique visitors.  We are
delighted to have this opportunity to expand our relationship with
Autobytel.com throughout Europe.'

About autobytel.com inc.
Internationally-branded Autobytel.com (www.autobytel.com) is the acknowledged
leader in online automotive commerce (1).  The most comprehensive automotive
Internet site, Autobytel.com offers consumers a positive purchasing and
ownership experience, while providing its Accredited Dealer Network with the
most efficient way to reach online car buyers.  As it assists consumers
through every aspect of the automotive lifecycle, Autobytel.com provides
continuity into the next vehicle purchase.  Launched in March 1995,
Autobytel.com's low-cost, no-haggle car-buying program is available in the
U.S., Canada (www.autobytel.ca), the United Kingdom (www.autobytel.co.uk) and
Sweden (www.autobytel.se).  In 1999, Autobytel.com was ranked number one in
Dealer Satisfaction with Online Buying Services for the second year in a row
(2).

The statements contained in this press release that are not historical facts
are forward-looking statements under the federal securities laws.  These
forward-looking statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are difficult to
predict.  Actual outcomes and results may differ materially from what is
expressed in, or implied by, such forward-looking statements.  Autobytel.com
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. Among the
important factors that could cause Autobytel.com's actual results to differ
materially from those expressed in, or implied by, the forward-looking
statements are changes in general economic conditions, increased or unexpected
competition, the failure to close the acquisition of A.I.N. Corporation,
changes in A.I.N. Corporation's financial performance, and other matters
disclosed in Autobytel.com's filings with the Securities and Exchange
Commission.

(1) As reported by J.D. Power and Associates, Autobytel.com accounts for 45%
of all new vehicles sold through an online service. (8.23.99).
(2) J.D. Power and Associates 1998-1999 Dealer Satisfaction With Online Buying
Services Studies(SM).  1999 study conducted among dealership Internet
specialists who completed 1,024 individual evaluations.

Contacts:          Autobytel.com/Media Relations
                   Melanie Webber, Corporate, 949.862.3023                    
                   ([e-mail])

                   Betsy Isroelit, RBI Communications, 323.960.1360 ext. 17   
                   ([e-mail])

                   Cassandra Cavanah, RBI Communications, 323.960.1360 ext. 30
                   ([e-mail]) 

                   Autobytel.com/Investor Relations
                   Financial Relations Board
                   Don Markley (general), Chris Wood (analyst) 415.986.1591