Banknorth Joins the DealerTrack Auto Finance Platform

MELVILLE, N.Y.--April 7, 2004--Banknorth N.A., New England's third largest retail and commercial bank, has joined the DealerTrack(TM) online automotive finance platform. Through its integration with DealerTrack, Banknorth expects to significantly enhance the service it provides to its automotive dealer customers.

N. Craig Stickney, senior vice president of Banknorth, explained that automotive dealers can now use DealerTrack to submit credit application data to Banknorth as well as to other financing sources participating on the platform. Dealers can monitor the status of applications in real-time, request credit reports and take advantage of a wide range of time-saving functions offered through the platform. This includes direct integration with leading dealer management systems, payoff quotes and dealer reserve statements.

Recently named one of the Best Managed Companies in America by Forbes Magazine, Banknorth will leverage DealerTrack to further enhance its reputation for excellence and solid execution.

"Access to DealerTrack will help make the auto financing process easier and more efficient for our institution, as well as for our dealer customers," said Stickney. "This integration will allow Banknorth to provide our customers with the tools they need to increase efficiencies and close more deals."

"We are pleased to welcome a respected institution like Banknorth to our platform," said Mark O'Neil, DealerTrack president and CEO. "This addition will further define DealerTrack as one of the industry's leading auto finance technology solutions providers."

About DealerTrack, Inc.:

With over 22,000 dealers and over 65 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 - which work together as one easy-to-use, integrated solution - includes: credit report access; credit application processing; electronic contracting; desking tools; activity reporting; and a dealer Web site product. Additionally, the DealerTrack platform features integration with top dealer management systems for credit reports, credit application processing and electronic contracting. As a member of the AFSA, STAR and X9 standards committees, DealerTrack continues to drive industry-wide technology standards to support the total financing process. More information on DealerTrack is available at www.dealertrack.com or by calling 877-357-8725.

About Banknorth:

Banknorth Group, Inc., based in Portland, Maine, has $25.8 billion in assets and is the third-largest retail and commercial banking company headquartered in New England. Through its banking subsidiary, Banknorth, N.A., the company operates Banknorth Massachusetts, Banknorth Vermont, Banknorth Connecticut, Bank of New Hampshire, Peoples Heritage Bank in Maine and Evergreen Bank serving upstate New York. Combined, these Banknorth banking divisions represent over 350 branches and more than 500 Banknorth ATMs across New England and upstate New York. Banknorth also operates subsidiaries and divisions in insurance, investments, merchant services, mortgage banking, leasing and other financial services. More information on Banknorth is available at Banknorth.com.