TRAK (MM)

In the news release, DealerTrack (Nasdaq: TRAK) Names Bank of America and TransUnion Executives to Compliance Advisory Council, issued Tuesday, June 6, by DealerTrack, Inc. over PR Newswire, we are advised by the company that the name of the founding member of the Compliance Advisory Council should read "Marc Kirshbaum" rather than "Mark Kirshbaum" as originally issued inadvertently. Complete, corrected release follows: LAKE SUCCESS, N.Y., June 6 /PRNewswire-FirstCall/ -- DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (NASDAQ:TRAK) today announced that John Hyatt of Bank of America and Michael Lines of TransUnion have joined DealerTrack's Compliance Advisory Council. The Council was recently formed to assist DealerTrack in its efforts to educate dealers about compliance issues and in developing additional products that help dealers better manage their compliance risks. Other founding members include Thomas B. Hudson, partner of Hudson Cook, LLP; Marc Kirshbaum, president of Experian's Fraud Solutions division; and representatives from DealerTrack's legal and management team. "With so much pressure to safeguard consumers from identity theft, fraud and privacy invasion, dealers are increasingly challenged to keep their F&I departments up to date with the latest state and federal regulations," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "Our Compliance Advisory Council brings together experts with wide-ranging experience in automotive compliance issues, and will help us support our dealer customers in this shifting environment." "I am pleased to join DealerTrack's Compliance Advisory Council, and look forward to helping dealers navigate compliance risks and prevent both fraud and identity theft," said John Hyatt, automobile retail credit executive for Bank of America. Mr. Hyatt is responsible for retail underwriting and fulfillment for all of the bank's automobile loans. He brings expertise in consumer lending and dealer services to the DealerTrack Council, as well as experience in strategic planning, marketing and financial analysis. "With the ever-changing threats to consumer security and updates to privacy laws, it is imperative that dealers keep up with the latest strategies and technologies to protect their organizations," said Michael Lines, chief security officer of TransUnion. "I am pleased to be a part of DealerTrack's Compliance Advisory Council, and look forward to helping dealers improve their information security and compliance efforts." Mr. Lines joined TransUnion in 2005, and is responsible for enterprise- wide information security, data protection, and physical security of the TransUnion organization and its international and domestic subsidiaries. Compliance Advisory Council members will lend their expertise in areas such as new laws and regulations, current dealership practices, activity by state and national associations, relevant new case law, and compliance-related products and services. In addition, council members will periodically review and assist in updating DealerTrack's recently introduced Compliance Guide. DealerTrack's new Compliance Guide is a free booklet designed to educate dealers about issues related to compliance and offer recommended practices for dealers. The guide, available in both printed and electronic formats, covers the following areas: Consumer Privacy, Data Security & Identity Theft; Credit Applications and Contracts; Aftermarket Selling; and Recordkeeping & Destruction. It also contains a glossary explaining key compliance terms. DealerTrack recently introduced two new compliance products: DealWatch(TM), a tracking and reporting solution that enables dealers to securely monitor, store and manage deal documents and information; and ExactID(TM), a tool that enables dealers to verify a customer's identity and check it against the government's OFAC database. About DealerTrack (http://www.dealertrack.com/) DealerTrack (NASDAQ:TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. The company's online credit application processing product automates and accelerates the automotive financing process, while its integrated subscription-based software enables dealers to receive consumer leads, compare financing and leasing options, sell insurance and other aftermarket products, document compliance, and execute financing contracts electronically. Over 21,000 dealers, with more than 80% of all franchised dealers; over 225 financing sources, including nine captives and the 20 largest U.S. independents; and other service and information providers are active in the DealerTrack network. Safe Harbor for Forward-Looking and Cautionary Statements Statements in this press release regarding the benefits of the network, the development of DealerTrack's products, particularly those related to compliance, the demand for DealerTrack's products and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that might cause such a difference include: the inability to execute any element of DealerTrack's business strategy, including selling additional products and services to existing and new customers; DealerTrack's success in expanding its customer base and product and service offerings; DealerTrack's ability to add or retain financing sources within its network; and other risks listed in the Company's reports filed with the SEC, including DealerTrack's 2005 Form 10-K. These filings can be found on DealerTrack's website at http://www.dealertrack.com/ and the SEC's website at http://www.sec.gov/. Forward- looking statements included herein speak only as of the date hereof and the Company disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances. CONTACT: Liz Zale DealerTrack, Inc. (516) 734-3758 Kirsten Plonner RF|Binder Partners (212) 994-7546 DATASOURCE: DealerTrack, Inc.

Copyright