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Desjardins, Canada?s Largest Financial Cooperative, Plans to Join DealerTrack Canada?s Lender Network

^{Published on 2009-01-15 04:37:52, Last Modified on 2009-01-15 04:39:05 - Market Wire}
 

TORONTO--([ BUSINESS WIRE ])--DealerTrack Canada, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), and Desjardins Group, which operates the largest network of credit unions in Canada, today announced that Desjardins intends to enter into an agreement to offer its indirect financing services through DealerTrack Canada's lender network. After its implementation, planned to occur in 2009, Canadian auto, RV and powersport dealers will be able to electronically submit consumer credit applications directly to Desjardins via DealerTrack Canada's lender network.

"We are pleased to welcome Desjardins to the DealerTrack Canada lender network," said Michael Collins, general manager of DealerTrack Canada, Inc. "The addition of this major financial institution will significantly broaden the range of options on the platform for dealers seeking financing for their customers, and help them close deals more quickly."

"We are very pleased with this partnership with DealerTrack Canada because it allows us to provide great customer service to our dealers by allowing them to obtain faster Desjardins financing," said Jean Yelle, vice-president of Desjardins Card Services. "This agreement will no doubt help Desjardins to secure a more advantageous position in the Canadian and North American market."

About Desjardins Group

Desjardins Group is the largest cooperative financial group in Canada, with overall assets of nearly $150 billion, as at September, 2008. It comprises a network of caisses, credit unions and business centres in Québec and Ontario, and some twenty subsidiary companies in life and general insurance, securities brokerage, venture capital and asset management, many of which are active across the country. Drawing on the expertise of its 40,000 employees and the commitment of more than 6,500 elected officers, Desjardins offers its 5.8 million individual and corporate members and clients a full range of financial products and services. Its physical distribution network is complemented by leading-edge virtual access methods. To find out more, consult [ www.desjardins.com ].

About DealerTrack Canada, Inc.

DealerTrack Canada, Inc. is an affiliate of DealerTrack Holdings, Inc. and is a leading provider of on-demand credit application processing solutions in Canada. DealerTrack Canada connects automobile, marine recreational vehicle, motorcycle, power sport and home improvement dealers across Canada to over 25 financial institutions, and credit bureau and other strategic providers. Over 5,000 dealers, including 90% of all Canadian franchised automotive dealers, use DealerTrack Canada's solutions to process consumer financing transactions.

About DealerTrack Holdings, Inc.

DealerTrack Holdings, Inc. (Nasdaq: TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. DealerTrack's solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the company provides dealer management systems (DMS) through its DealerTrack Systems, Inc., subsidiary. Over 20,000 dealers, 700 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit [ www.dealertrack.com ].

Safe Harbor for Forward-Looking and Cautionary Statements

Statements in this press release regarding DealerTrack Canada and Desjardins' intent to enter into an agreement; Desjardins joining DealerTrack Canada's lender network and the benefits thereof and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.

Factors that might cause such a difference include: the ability of DealerTrack Canada and Dejardins to negotiate and enter into a definitive agreement for Dejardins to join DealerTrack Canada's lender portal; the completion of the technical integration of Dejardins systems with DealerTrack Canada's lender portal; and other risks listed in our reports filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2007. These filings can be found at [ www.dealertrack.com ] and the SEC's website at [ www.sec.gov ]. Forward-looking statements included herein speak only as of the date hereof and we disclaim any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.

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