Carbiz named to Deloitte Technology Fast 500 Ranking of Fastest Growing Technology Companies

SARASOTA, Fla.--Oct. 2, 20040, 2004--Carbiz Inc. (TSX VENTURE:CZ), which announced aggressive expansion plans last week, is listed on the 2004 Deloitte Technology Fast 500 ranking of North America's fastest growing technology companies.

"There are no other companies in our vertical market growing at the rate we are," said Carl Ritter, Carbiz chief executive officer. "This is an exciting time for Carbiz as we continue to grow our software and consulting divisions while we expand into the auto finance market in Florida."

Based in Sarasota and Toronto, Canada, Carbiz is a leading provider of Internet and software solutions to the North American automotive industry. The company was included on the Fast 500 in 2002. Carbiz's suite of business solutions includes dealer software products focused on the finance, sub-prime finance and "buy-here, pay-here" markets. The company's hosted applications allow customers to use software via Internet connections instead of maintaining software on their own servers.

Last week, Ritter announced that the company had closed financing to accelerate expansion in Florida, beginning in the Tampa Bay area, as the company seeks a listing on the U.S. Over-The-Counter Bulletin Board (OTCBB). Carbiz is currently publicly traded on the Canadian TSX Venture Exchange ("CZ":TSX:V).

Ritter said the company will leverage its expertise in auto finance by opening auto credit centers that finance and sell vehicles at reasonable rates to people who otherwise might not qualify for a loan. The first Carbiz Auto Credit Center opened in Palmetto, FL in May and a second is scheduled to open in St. Petersburg in November.

The company has 40 full-time employees in Sarasota and provides finance solutions, lead generation, Internet capability and training services. Carbiz supports more than 3,000 dealers with a recurring revenue model, in addition to individual product sales. The company also provides a tax refund service and refund anticipation loans at a facility in Clearwater that employs 90 people on a seasonal basis.

For more information about Carbiz and its services, visit the web site: www.carbiz.com. Information on the Deloitte Technology Fast 500 ranking is available on-line at www.fast500.com.