DealerTrack, Inc., a technology services company enabling finance transactions between automobile dealers and financing sources through its DealerTrack platform, on Jan. 5 announced that it has completed its acquisition of Toronto-based dealerAccess Canada Inc., Canada's leading auto finance technology solution provider. The deal was finalized on Dec. 31, 2003.

Previously a wholly-owned subsidiary of BMO Financial Group, dealerAccess allows Canadian automobile dealerships to instantly connect with multiple financing sources for rapid processing of consumer auto loan and lease applications at the point-of-sale. The largest technology service provider of its kind in Canada, dealerAccess is currently used by more than 2,000 dealers and provides financial connectivity to eight leading lending institutions.

"We're pleased to make our formal entrance into Canada by building on the strong foundation already established by dealerAccess," said DealerTrack president and CEO Mark O'Neil. "We have a great deal to bring to the Canadian market, such as offering Canadian dealers connectivity with top dealer management systems. This acquisition will be a win-win for all sides of the auto finance process."

"Our team is extremely excited to move forward with DealerTrack," said David Trinder, president and CEO of dealerAccess. "DealerTrack has an

enormous wealth of technology and resources to bring to the table. This will mean significant short- and long-term benefits for our financing partners and dealer customers."

'Broad Range of Benefits'

The parties expect this agreement to bring a broad range of benefits to the Canadian auto finance marketplace, starting with expanded functionality of the dealerAccess platform.

In the United States, DealerTrack has data integration agreements with ADP and Reynolds and Reynolds, both leading providers of dealer management systems (DMS). DealerTrack expects to move quickly in rolling this functionality out in Canada.

"We see this as a strong move for DealerTrack and a positive opportunity for our organization," said Dean Anton, vice president and general manager, ADP Dealer Services, Canada. "DealerTrack's expansion of dealerAccess functionality will benefit Canadian automobile dealers while offering ADP a chance to add even greater value to our dealer relationships."

"The DealerTrack acquisition of dealerAccess is good news for the Canadian auto market," said Pierre Blais, vice president and general manager,

Reynolds and Reynolds Canada. "We look forward to partnering with DealerTrack and dealerAccess in providing an even deeper level of service and

integration to our Canadian dealer customers."

In addition to DMS integration, DealerTrack's acquisition of dealerAccess is expected to offer Canadian dealers access to a broader array of financing sources. The dealerAccess platform currently offers financing from BMO Bank of Montreal, financiaLinx Corporation, HSBC Bank Canada, RBC Royal Bank, TD Canada Trust, Travelers Financial Group, VFC Inc. and Wells Fargo Financial Acceptance.

"We felt from the beginning of our discussions that the two platforms would be an extremely good fit," said Neil Glasberg, senior vice president, National Sales and Business to Business Group, BMO Bank of Montreal. "As a major automotive financing source in this market, we see strong benefit to be derived from DealerTrack's entrance into Canada. We anticipate that they will help us to further drive down origination costs and gain other key efficiencies. They are undoubtedly the platform of choice."

Looking ahead, DealerTrack said it will explore the rollout of its eContracting product in Canada. Piloted in the U.S. across 2003, eContracting automates the contracting portion of the financing process, allowing dealers faster access to funding while providing financing sources with significant gains in efficiency.

Commenting on the deal, O'Neil underscored that dealerAccess will remain a Canadian-operated company. "Now that we've completed the acquisition, we are anxious to begin work with the team at dealerAccess to move forward on our mutual objectives," he said.

About DealerTrack, Inc.

With over 22,000 dealers and over 60 financing sources currently connected, DealerTrack is North America's premier independent Web-based platform

that automates and accelerates the entire automotive financing process. The DealerTrack suite of products includes credit application processing, credit report access, electronic contracting and lease comparisons, all in one integrated solution.

Additionally, the DealerTrack platform features

integration with top dealer management systems for credit application processing and credit report access.

More information on DealerTrack is available

at www.dealertrack.com or by calling (877) 357-8725.

About dealerAccess Canada Inc.

dealerAccess says it is Canada's largest online provider of finance to the Canadian automotive sector, allowing dealers to connect through the Internet to multiple lending institutions that provide loans and leases to car buyers at the point-of-sale.

By utilizing advanced and proven software, dealerAccess says it provides dealers with an electronic application and approval system that can complete a customer credit application in minutes. Through more than 2,000 Canadian automobile dealers, dealerAccess has originated more than CAD$6.0 billion worth of auto leases and loans.

More information on dealerAccess Canada Inc. can be found at www.dealeraccess.com.

About ADP Dealer Services

ADP Dealer Services provides integrated computing solutions to more than 16,000 automotive and truck dealers throughout the United States, Canada and Europe.

ADP Dealer Services Group is the third largest business unit of ADP. ADP, with $7 billion in revenues and more than 500,000 clients, is one of the largest independent computing services firms in the world.

More information on ADP Dealer Services is available at www.dealersuite.com.

About Reynolds and Reynolds

Reynolds and Reynolds (www.reyrey.com) is a provider of integrated solutions designed to help automotive retailers manage change and improve their profitability.

With 75 years of experience serving automotive retailing, Reynolds says it enables car companies and retailers to work together to build the lifetime value of their customers. The company's software, service and training solutions include retail and enterprise management systems; networking and support; e-business applications; Web services; learning and consulting services; CRM solutions, document and data management and leasing services.

Reynolds serves more than 20,000 customers comprising 90 percent of the automotive retailers and virtually all car companies in North America. It conducts CRM consulting services on five continents.