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TrueCar Files Registration Statement for Proposed Follow-on Offering

SANTA MONICA, Calif., Oct. 28, 2014 (GLOBE NEWSWIRE) -- TrueCar (Nasdaq:TRUE), the negotiation-free car buying and selling platform, today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of up to $125 million of its common stock.

TrueCar expects to offer approximately 1,000,000 shares of common stock in the offering as well as any shares to be sold to the underwriters pursuant to their option to purchase additional shares, and the remainder of the shares being offered will be sold by certain existing stockholders of the company.

TrueCar expects to use the net proceeds that it receives from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures. TrueCar will not receive any proceeds from the sale of the shares by the selling stockholders.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as lead book-running managers for the offering, and Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are acting as book-running managers for the offering. Cowen and Company, LLC and JMP Securities LLC are acting as co-managers.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, or by emailing prospectus-ny@gs.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CONTACT: INVESTOR CONTACT: Alison Sternberg Vice President, Investor Relations and Administration O: 800.200.2000 x 8771 investors@true.com Laura Bainbridge Addo Communications O: 310.829.5400 investors@true.com MEDIA CONTACT: Alan Ohnsman Senior Vice President & Chief Communications Officer aohnsman@truecar.com O: 800.200.2000 x 8044

Source:TrueCar