Union Acceptance Corporation Joins DealerTrack System

    MELVILLE, N.Y.--July 16, 2002--DealerTrack.com, Inc. has announced that Union Acceptance Corporation ("UAC") has become a participant in the DealerTrack (SM) online auto finance system.
    DealerTrack automates the finance process by allowing UAC to receive credit applications from dealerships via a web-based system. This reduces the time spent manually processing applications into the Company's system and reduces the potential for input errors, resulting in substantial improvements in credit decision turnaround time. DealerTrack is available to all UAC dealers.
    "DealerTrack is another step in the effort to further our technology and web initiatives," stated Lee Ervin, President and Chief Operating Officer of Union Acceptance Corporation. "We believe DealerTrack will provide a significant benefit to our dealer base and we look forward to the corresponding improvement in our efficiencies and dealer satisfaction. DealerTrack supports our corporate mission of operational excellence, particularly from a dealer's perspective."
    Mark O'Neil, DealerTrack's President and Chief Executive Officer added, "We are very excited that Union Acceptance Corporation has joined DealerTrack. By partnering with DealerTrack, UAC can provide its dealer customers with the ability to obtain fast and convenient online financing, reducing the credit approval process from hours to seconds. The result is a more efficient workflow process, improved accuracy and reduced processing time for dealers and UAC and an ultimately easier, faster experience for the consumer."

    About DealerTrack

    DealerTrack.com, Inc. is the leading technology services company enabling finance transactions between automobile dealers and lenders. The Company provides an impartial end-to-end loan and lease transaction channel that improves efficiencies and profitability for lender and dealers by automating credit processes, speeding lending communications and improving transaction efficiency through the use of the Internet. More than 15,000 dealerships nationwide currently use the DealerTrack system to electronically communicate and transact with their lenders.
    For more information about DealerTrack, please contact Michael Kurdziel, Vice President of Marketing, 805/963-8688 x123 or mike.kurdziel@dealertrack.com. Auto dealers may contact DealerTrack at 877/357-8725; lenders may contact Rich McLeer, National Lender Relationship Manager, 631/486-1649 or richard.mcleer@dealertrack.com.

    About UAC

    UAC is one of the nation's largest independent, indirect automobile finance companies. The Company's primary business is purchasing and servicing prime automobile retail installment sales contracts. These contracts are originated by dealerships affiliated with major domestic and foreign manufacturers, nationally recognized rental car outlets, and used car superstores. UAC focuses on acquiring receivables related to late model used and, to a lesser extent, new automobiles purchased by customers who exhibit favorable credit profiles. Union Acceptance Corporation commenced business in 1986 and currently acquires receivables from over 5,800 manufacturer-franchised dealerships in 39 states. By using state-of-the-art technology in a highly centralized underwriting and servicing environment, Union Acceptance Corporation enjoys one of the lowest cost operating structures in the independent prime automobile finance industry. For additional information on Union Acceptance Corporation please go to the Company's web site, www.unionacceptance.com.