PHILADELPHIA — Along with naming its new executive vice president
of technology and strategic planning, VINtek recently revealed it's now the
exclusive electronic lien and title partner of LEVERAGE, the service
corporation for the League of Southeastern Credit Unions, the trade association
for Alabama and Florida credit unions.

Officials recounted that this past March, the Florida
legislature passed measures requiring auto lenders in the state to utilize the
Florida Department of Highway Safety and Motor Vehicles' (DHSMV) paperless ELT
process by Jan.1.

The company highlighted LEVERAGE chose to partner with
VINtek based on its strong presence in the credit union market and partnerships
with other leagues.

Officials reiterated ELT is an environmentally friendly
alternative to paper-based vehicle titles that enables credit unions to receive
digital titles from the DHSMV. They added ELT can increase efficiency by saving
time and significantly reducing risks of fraud and error.

An information advisory from the DHSMV issued last month stated,
"There is a potential for several thousand lenders to enter Florida's ELT program
over the next few months so the DHSMV advises lienholders not to wait until the
last minute to contract with a service provider.

"Lenders who do not allow adequate time to complete the
required steps before Jan.1, 2013 will risk rejection of title applications received
by DHSMV after that date," regulators added

LEVERAGE chief executive officer Patrick La Pine explained, "VINtek
was the natural selection to transition our Florida members to the ELT process
and to prepare our Alabama members for the possibility of future introduction
of ELT in the state.

"For credit unions, working with LEVERAGE and VINtek on the
transition process will greatly reduce the number of staff hours needed to comply
by the January deadline," La Pine continued.

VINtek president Larry Highbloom added, "We are happy to
announce this strategic partnership with LEVERAGE.

"Our company has been helping financial institutions in
Florida transition to ELT for more than 10 years," Highbloom went on to say. "We
are excited for the opportunity to expand this relationship in Florida and
eagerly await the introduction of ELT into Alabama as well."

Mehta Tapped as Executive Vice President of Technology and
Strategic Planning

In other company news, Akshaya Mehta recently joined VINtek
as its executive vice president  of
technology and strategic planning.

In this role, Mehta will oversee VINtek's technology
initiatives as well as assist in the company's strategic growth plans.

The company highlighted Mehta brings more than 25 years of
experience in technology and executive level management in the business
services, finance and automotive industries. Mehta was formerly the chief
operating officer of First Advantage and executive vice president of credit and
transportation services of CoreLogic.

Prior to his tenure at First Advantage/CoreLogic, Mehta was
EVP and COO of American Driving Records and vice president of product
development and e-commerce services for the dealer services division of ADP.

During his tenure at ADP, Mehta was part of the core
foundation team that launched Computerized Vehicle Registration — a
partnership between ADP and Reynolds & Reynolds that provides electronic
vehicle registration systems for dealerships.

"Akshaya's experience in the automotive industry, and his
ability to be an important part of the successful growth of companies is well
known and he is a great addition to the VINtek management team," Highbloom
emphasized.

"He has a proven track record of maximizing the deployment
of innovative technologies and services to drive significant growth and
margins," Highbloom continued. "His involvement in the foundation of electronic
registration and DMV related services is a perfect fit for VINtek's growing
suite of DMV technologies and services."