NASHVILLE, Tenn., and OCALA, Fla., Aug. 2 /PRNewswire-FirstCall/ -- Acacia Automotive, Inc. (Ticker-ACCA) today announced that it acquired the assets of Augusta Auto Auction on July 10th. The terms of the transaction were not immediately disclosed. Acacia commenced operation of the auction with its first sale on Wednesday, July 11th, closely following the completion of its first offering of Common shares in June. The company completed that initial capital raise of $1,025,000 in line with its goals for that offering. "Our first order of business is to revitalize the temporary facility so that everyone will know the auction is under new ownership and direction" said Tony Moorby, the company's President and Chief Operating Officer. "We launched our new operation with a major renovation project that will continue through mid-August. It is absolutely imperative that our dealer clients see Acacia as professional and dedicated to quality in every way. Augusta is a fantastic community that literally exudes potential, and we are thrilled to become one of its integral parts." In addition to sweeping cosmetic changes, the company is preparing to acquire a list of new assets to bring the auction up to date with the latest technology. "We will be installing equipment to facilitate a 'paperless block' in our auction lanes in addition to moving from the old standards to installing many other innovative improvements" explained Steve "Junior" Sample, the company's CEO. "We will provide Tony with everything he wants and needs to accommodate his transformation of this sleepy auction into a vibrant part of the Augusta community and surrounding areas. Acceptance of our efforts by the dealer community has already been widespread, and we are finding new clients gravitating to the auction weekly. It is a very exciting time for everyone at Acacia Automotive!" Moorby continued: "We are elated at the early results under our new management and direction. Whilst we have given our top priority and effort to the major renovation task, we did initiate a small test to see what effect some additional marketing may have on sales. In preparation for our third sale we effected two days of telemarketing while I also joined our General Manager, Dan Dorsey, in visiting with some local dealers one day that week. The results were absolutely amazing! We entered more vehicles in that sale than had been entered any week during the prior four years, and we maintained a very respectable conversion rate of nearly 64%. We now know that our visions of this auction's future were well-founded, and we can hardly wait to complete the auction's facelift and move into a full-court marketing and sales presence." In a year-over-year comparison of the auction operations for the last three weeks of July 2006 versus 2007 (reflecting the initial period of Acacia's ownership of the auction), the company registered an increase of 35.03% in the number of vehicles registered and 26.50% in vehicles sold, as well as an increase of 29.99% in fees generated. Acacia's management is well- pleased with those results, acknowledging that "the sky is the limit". The company anticipates moving its headquarters to Nashville, Tennessee, in late August in order to be more centrally located and to better accommodate commerce throughout the United States. 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". 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) 502-4783 Email: Internet: http://www.acacia.bz/ DATASOURCE: Acacia Automotive, Inc. CONTACT: Investor Relations, +1-352-427-6848, or fax, +1-352-502-4783, Web site: http://www.acacia.bz/

Copyright