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Carbiz.com Inc. Announces Strategic Alliance With TD Bank

30 March 2000

Carbiz.com Inc. Announces Strategic Alliance With TD Bank

    TORONTO--March 30, 2000--TD Bank (TSE:TD.) and Carbiz.com, Inc. (CDNX:CZ.) announced today that they have entered into and agreement to form a strategic alliance to expand TD's auto dealer consumer loan business through utilization of Carbiz's e-commerce solution for automobile financing.
    TD's participation will include both investment and operational components.
    Through Carbiz.com's Full Spectrum 2000 software auto dealers can obtain "on-the-spot" financing for consumers by connecting the dealers to credit bureaus and lenders via the Internet. Under the alliance, TD Bank plans to utilize Full Spectrum 2000 in its relationship and its dealer network across Canada. The two companies will also examine the other potential joint programs.
    "We are extremely pleased to have an alliance with a world-class financial institution like TD Bank," commented Carl Ritter, President of Carbiz.com. "TD Bank has shown itself to be at the forefront of the e-commerce financing initiatives," he added.
    "We look forward to working with Carbiz.com and its potential to deliver value-added business-to-business technology solutions to our customers," commented Steve Stewart, Senior Vice President, Retail Credit Solutions, TD Bank. "The alliance will also provide TD Bank with an opportunity to increase our share of the large and still growing market for auto loans."