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MyAutoloan Launhces New Direct Lending Application Technology

December 19, 2006

myAutoloan.com, a direct-to-customer, Internet-based auto loan marketplace, launched the latest version of Preferred Placement, the direct lending application technology that uses electronic application evaluation and analysis to process direct-to consumer auto loans for its customers with national lending institutions. With Preferred Placement technology, customers find the right auto loans for new or used vehicles, refinance existing vehicles, private party purchases and lease buyouts.

The latest version of Preferred Placement technology simplifies, streamlines and shortens the application process; as well as enhances the electronic verification and validation of critical customer information. The information given to lenders is more accurate and provides lenders with greater efficiencies, allowing them more time approving and funding quality customers with auto loans.

"Our Preferred Placement technology continues to evolve and improve increasing customer satisfaction and lender performance to provide auto loans," said Heather Dietel, Director of Product Development of myAutoloan.com. "Through extensive usability testing coupled with focus group input, the new version greatly increases the speed, ease, and simplicity allowing customers to navigate and complete an application for a direct-to-consumer auto loan."

Greg Thibodeau, CEO of myAutoloan.com added, "The additional enhancements to the electronic verification and validation process continue to ensure that we match the right customers with the right lenders."

During the last 12 months the improvements to Preferred Placement technology enhancements have dramatically complimented a lender's ability to target vertically within the entire credit spectrum, as well as to target auto loans horizontally across multiple loan products. Preferred Placement technology, with its automated credit application processing and consumer targeting ability, is applicable across a variety of lending segments

including mortgages, home equity, motorcycle and marine lending.

myAutoloan.com has made its Preferred Placement technology available to the entire direct lending industry with "Powered by" financing and technology licensing agreements.

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