ADP Dealer Services Acquires Spain's Tesoft Automocion, S.A.

BRUSSELS, Belgium--Oct. 2, 20042, 2004--The Dealer Services Group of Automatic Data Processing, Inc. today announced its purchase of Tesoft Automocion S.A., headquartered in Madrid, Spain.

Tesoft, the largest shareholder of which is 3i Group Plc, has been a pioneer in the development of dealer management systems in Spain for more than 20 years. Tesoft is the largest dealer management system (DMS) provider, with approximately 1,500 automotive dealer customers in Spain, Portugal and France. Tesoft counts among its European customers automakers Volkswagen, Renault and Peugeot Citroen.

Over the years, Tesoft's Autosoft platform has become an industry leader in both functionality and customer service. Today, Tesoft offers automotive dealers a choice of DMS products, including Windows-based ASWin for medium and large dealers and ASWin Lite for smaller dealers and authorized repairers. Many of Tesoft's customers are migrating to its Windows-based ASWin systems.

"As we continue to look for the right opportunities to expand geographically, Tesoft offered us a great opportunity to enter Europe's fifth largest marketplace with a great partner," said Steve Anenen, president of ADP's Dealer Services Group.

"As the retail automotive industry in Europe continues to evolve, it is critical that ADP expands its geographic 'footprint' to better support our dealers and car company customers. With great products, great people, and a strong customer orientation around its over 1,500 dealer customers, Tesoft is a perfect fit," said Pete Granson, president of ADP Dealer Services Europe.

"Tesoft needed to find a partner who could enhance our ability to make our customers more successful -- not only today, but more importantly in the future. ADP's strength throughout Europe, market knowledge and software solutions that enhance Tesoft's current customer offering gave us that partner. We are very excited about being part of this market leading company," said Jose Manuel Novas, managing director of Tesoft.

Terms of the transaction were not disclosed.

About ADP Dealer Services

ADP Dealer Services provides integrated computing solutions to 19,500 auto, truck, motorcycle, marine and recreational vehicle dealers throughout the United States, Canada and Europe. ADP Dealer Services is the third largest business unit of Automatic Data Processing, Inc. . ADP, with $7.8 billion in revenues and approximately 550,000 clients, is one of the largest independent computing services firms in the world. More information on ADP Dealer Services is available on the Internet at http://www.dealersuite.com.

ADP is a registered trademark of ADP of North America, Inc.

About Tesoft Automocion

Tesoft Automocion is a Spanish leader in data process and applications for the automotive sector, specializing in management systems for automotive dealers. It has a portfolio of more than 1,500 clients and a team of 171 associates. TESOFT does business in Spain, Portugal and France.

About 3i

3i is a leader in private equity and venture capital, focusing on buyouts, growth capital and venture capital investments in Europe, the United States and Asia Pacific. As of 31 March, 3i had invested EUR 1,469 million, including co-investment funds, and EUR 738 million in mid and smaller buyout markets in Europe and Asia Pacific for the year. 3i's growth capital business had invested EUR 470 million this year by 31 March in high growth companies expanding organically or through acquisition. 3i Spain has invested EUR 860 million since 1990 and has carried out more than 40 buyouts.