RALEIGH, N.C. — Consolidated Asset Recovery Systems recently
hired a new vice president of sales. Joining the provider of repossession and
remarketing services is Jeff Swisher.

CARS is looking for Swisher to help the company further
scale the sales organization and continue to build brand recognition.

"We are excited to bring Jeff and the wealth of knowledge
and expertise he possesses onto our leadership team," said Steve Norwood, chief
executive officer of Consolidated Asset Recovery Systems.

"Our company is expanding very rapidly due to the high
demand for intuitive and cost-effective repossession and remarketing
technology, and I feel confident Jeff will be a critical asset in driving the
direction of our company going forward," Norwood continued.

Formerly, Swisher was the founder of sales consulting firm,
Swisher Sales, where he consulted with more than 50 clients during his six-year
tenure. Swisher also created another consulting practice, Calibration Group,
which provided sales, finance, marketing, HR, legal and managed information
technology services to the company's established customer-base.

Prior to that time, Swisher was hand-selected and hired as
president and CEO of a successful RTP-based marketing firm where he helped add
200 new clients to the company's roster during a 36-month period.

Furthermore, Swisher has also held positions as a sales
manager, sales director and vice president of sales and marketing for
organizations such as Xerox, MCI, BTi and NuVox.