DealerTrack and Teres Solutions Join Forces to Improve the Indirect Lending Process for Credit Unions and Auto Dealerships

AUSTIN, Texas & MELVILLE, N.Y.--March 8, 2004--

New Solution Offers Credit Unions Access to Nationwide DealerTrack(tm) Platform

Teres Solutions Inc. ("TSI") and DealerTrack Inc. today announced they have partnered to improve the automobile loan application submittal, review and funding process for financial institutions, automobile dealerships and consumers. The two companies have integrated DealerTrack's web-based automotive finance platform for automobile dealerships with TSI's Software Application for Integrated Lending (SAIL), which is specifically designed for credit unions' indirect lending programs.

This integration allows financing sources using TSI's SAIL software to receive credit application data electronically from the DealerTrack platform and respond with an instant decision, making the automobile loan and lease application process faster, more efficient and more accurate. Leveraging both TSI's SAIL and the DealerTrack platform, credit unions can expand their indirect lending business to reach a broader audience, which may also benefit consumers through the availability of more automobile financing options.

DealerTrack is a web-based platform that automates and accelerates the entire automotive financing process by electronically linking dealerships with financing sources. The TSI SAIL family of software products provides streamlined indirect loan application processing as well as other web-based business enhancement tools for credit unions.

"Credit unions offer viable financing options for many American automotive buyers, and serve as important regional financing partners for automotive dealers," said Richard McLeer, vice president lender and business development, DealerTrack Inc. "We already have several credit unions participating on the DealerTrack platform, and welcome the opportunity to work with Teres Solutions to open access for others to connect with us."

When credit application data is entered into the DealerTrack platform, which is used by approximately 22,000 dealerships in the U.S., the information can be electronically transmitted directly into a credit union's SAIL system. The credit union can then provide the dealer an immediate decision using SAIL's Autopilot feature, which is a customizable, automatic credit approval engine.

"Since our company's inception, an important part of our business strategy has been to team with DealerTrack," said Bruce Callen, president of Teres Solutions Inc. "With this agreement in place, we are now able to provide our credit union customers with access to the DealerTrack platform which otherwise might not be available to them. The speed, consistency, and accuracy of the DealerTrack web-based automotive finance platform, combined with the benefits offered by our SAIL system, will greatly improve the loan processing experience for consumers and prove a competitive advantage for dealers as well as credit unions."

About DealerTrack Inc.

With more than 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, desking tools and comprehensive activity reporting features -- all in one easy-to-use, integrated solution. Additionally, the DealerTrack platform features integration with top dealer management systems for credit application processing, credit report access and electronic contracting. More information on DealerTrack is available at www.dealertrack.com or by calling 877-357-8725.

About Teres Solutions Inc.

Teres Solutions Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Visit www.teressolutions.com for more information on TSI, its products and services.