LAKE SUCCESS, N.Y., and MISSISSAUGA, Ontario — Along with
revealing who is going to oversee its Canadian operation, Dealertrack Technologies
entered an agreement to purchase VINtek, a provider of automotive collateral
management, electronic lien and title and consumer automotive finance
processing services.

Dealertrack said this week that total consideration for the
deal will likely be about $53.4 million in cash, subject to standard purchase
price adjustments.

"VINtek has been an innovator and strong supporter in the
ELT marketplace for years, and is well-respected by state governments,
including their departments of motor vehicles," said Mark Furcolo, executive
vice president and group president of lender solutions at Dealertrack.

"We believe that the combination of VINtek and Dealertrack
will give us a powerful platform to better address the ELT and collateral
management needs of states and automotive finance lenders in the future, as
well as create innovative new product opportunities, which improve efficiencies
for automotive dealers to sell and finance vehicles," Furcolo continued.

"Our collective base of more than 6,300 automotive finance
lenders using ELT and collateral management services will also provide the
organization with additional opportunities to demonstrate and cross-sell our
entire portfolio of solutions," he went on to say.

The company also said it expects the transaction to close in
the fourth quarter, subject to customary closing conditions.

As far as the financial impact of the transaction,
Dealertrack anticipates discussing this during its third-quarter earnings
conference call in early November.

VINtek president Larry Highbloom added: "The uniting of our
organizations will allow us to deliver operational and service synergies that
will benefit all of our customers, as well as the technologies and services
that will help them grow their automotive loan volumes. We look forward to
working with our existing customers, and Dealertrack's customers, to deliver
ELT and collateral management solutions that will set the standard for others
to follow."

Dealertrack Appoints McCarthy to Head Canadian Operations

In other company news, Dealertrack Technologies named Michael
McCarthy as its vice president and general manager for Dealertrack Canada.

McCarthy joins Dealertrack from Davis & Henderson
(D&H), where he was vice president for lending services and, most recently,
product commercialization.

Prior to D&H, McCarthy held senior management positions
with Scotiabank, including chief operating officer for its automotive leasing
and fleet management subsidiary and vice president of strategy for Scotia's
Global Transaction Banking Group.

"Michael McCarthy's extensive management experience will
help us to better position our Canadian operations for future growth and
expansion, while continuing to deliver a high-level of service and support to
our Canadian dealers and lenders," said Michael Collins, vice president of
lender finance solutions and Canadian operations for Dealertrack Technologies.

"We are fortunate to have such a dynamic, impactful and
experienced leader joining us to direct our Canadian team and operations,"
Collins added

Headquartered in Mississauga, Ontario, Dealertrack Canada has
more than 100 team members committed to delivering high value solutions and
services to its Canadian clients. This team includes district managers
strategically located across the country to provide direct regional support to
our dealer and OEM customers, and a specialized team of area managers and relationship
managers devoted to Dealertrack inventory and dealer management software.

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