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DealerTrack Cuts Staff, Will Hold Press Conference at NADA 2009

January 06, 2009

LAKE SUCCESS, N.Y. — Software and data solutions provider DealerTrack will hold a press conference on Saturday, Jan. 24 at 11 a.m. in Room 256 of the New Orleans Morial Convention Center, site of the National Automobile Dealers Association 2009 Conference. In an unrelated statement, the company announced that it has eliminated several executive-level positions from its corporate staff.

DealerTrack Chairman/CEO Mark O'Neil will announce the latest enhancements spanning the full range of its dealership technology offerings, including new features for its inventory management and compliance solutions, the Arkona DMS, and more.

O'Neil also announced plans to downsize DealerTrack's workforce by eight percent, or approximately 90 employees. The company said the cuts will include several executive and senior-level positions, which will result in annualized salary savings of approximately $7 million.

"The continued decline in U.S. car sales and the number of vehicles financed, together with the uncertain outlook for 2009, necessitated an adjustment in our current expense levels," O'Neil said. "The goal of this realignment is to make DealerTrack a leaner and more focused company and to facilitate growth and continued expansion of the business."

All product design, development and support, including our ALG and Chrome businesses, have been consolidated under Raj Sundaram, senior vice president, product management and customer support. Sales, marketing, DealerTrack Digital Services and DealerTrack Canada have also been consolidated under Rick Von Pusch, senior vice president, sales, marketing and international. Additionally, Gary Papilsky was promoted to vice president and general counsel.

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