Carbiz Continues Expansion With Auto Credit Center in Downtown St. Petersburg

SARASOTA, Fla.--Dec. 15, 2004--Carl Ritter, Chief Executive Officer of Carbiz Inc. ("Carbiz" or the "Company") (TSX VENTURE:CZ) is pleased to announce that Carbiz, in continuing its Florida expansion announced in October, has opened a Carbiz Auto Credit Center in downtown St. Petersburg. The business, located at 2324 Central Ave., finances and sells automobiles at reasonable rates to people who otherwise might not qualify for a loan.

"We're excited to begin serving the St. Petersburg community," said Norm Pigeon, manager of the Carbiz Auto Credit Center in St. Petersburg. "The success of our credit center business is based on a philosophy of treating customers with dignity and respect. We combine this customer-friendly approach with interest rates below the industry average, which encourages customer loyalty."

Mr. Ritter announced in October 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).

Based in Sarasota, Florida and Toronto, Canada, Carbiz is a leading provider of Internet and software solutions to the North American automotive industry. 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 has 40 full-time employees 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.

The Company's expansion began in May 2004 with a credit center in Palmetto, FL. A third center is planned for the Tampa area in early 2005. Each credit center originates, funds, manages and collects loans for vehicles sold to customers.

Mr. Ritter also announced that Carbiz has granted an aggregate 637,891 options to directors and officers of the Company. The options are exercisable into common shares of Carbiz upon payment of CDN$0.20 per share and expire on Dec. 1, 20043, 2009.

For more information about Carbiz and its services, visit the web site: www.carbiz.com.

Forward-Looking Statements