DealerTrack, Inc., a technology services company enabling finance transactions between automobile dealers and financing sources through its DealerTrack™ platform, on Sept. 10 announced that it has signed a letter of intent to acquire Toronto-based dealerAccess Canada

Inc., which it called Canada's leading auto finance technology solution provider. The closing of the transaction is expected in October 2003.

Similar to the DealerTrack platform in the United States, 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, according to DealerTrack, dealerAccess is currently used by over 2,000 dealers and has processed applications representing more CAD$6.0 billion worth of automotive financing since the company's inception in March 2001.

A wholly-owned subsidiary of BMO Financial Group, dealerAccess currently offers financing from BMO Bank of Montreal, financiaLinx Corporation, HSBC Bank Canada, RBC Royal Bank, TD Canada Trust, Travelers Financial Group, Trans Canada Credit Corporation and VFC Inc. dealerAccess is available at no charge for dealers and requires no special hardware or software, beyond a personal computer with Internet access.

"We've long intended to expand the reach of DealerTrack into the Canadian market," said DealerTrack president and CEO, Mark O'Neil. "dealerAccess has a solid platform that has gained traction by bringing tangible value to the auto finance process. Given DealerTrack's success in streamlining

relationships between more than 20,000 dealers and 40 financing sources in the U.S., we felt the time was right to broaden the scope of our business and build on the strong foundation established in Canada by dealerAccess."

"Since its launch, dealerAccess has led the Canadian online auto finance market with its technology and strong relationships with leading lenders," said David Trinder, president and CEO, dealerAccess Canada Inc. "The opportunity to further advance our product offerings through the acquisition by

DealerTrack, including integration to ADP and Reynolds and Reynolds dealer management systems, is very exciting and will greatly benefit our customers."

O'Neil noted that the dealerAccess platform will continue to operate autonomously for the immediate future, as the agreement is finalized. "We believe that our acquisition of dealerAccess will be positive for the Canadian auto market. Our aim is to bring more dealers and additional financing sources to the platform, broadening business opportunities for both sides. We will also look to develop additional auto finance functionality in the Canadian market, as we have done with our introduction of eContracting in the United States," he said.

About DealerTrack, Inc.

With more than 20,000 dealers and more than 40 financing sources currently connected, DealerTrack is an independent Web-based platform

designed to automate and accelerate 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 is a 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.