National Press Release

DETROIT, Jan. 21 /PRNewswire/ -- Open Dealer Exchange is a newly launched company that will provide finance sources with the ability to improve operational efficiencies and enhance brand value by better integrating the loan origination process into the dealer's transactional, point-of-sale system. Open Dealer Exchange will facilitate the credit processing functions within the dealers' point-of-sale transactional systems used by automotive, truck and power sports dealers to conduct business in the showroom, at the desk, in the F&I office and online. Historically, dealers have been relegated to separate systems, one for credit processing and another for point-of-sale transaction processing in F&I. With Open Dealer Exchange, dealers will be able to combine these systems to improve the overall vehicle sales process for all stakeholders.

Finance sources will benefit from more real-time information being delivered specific to the transaction at the point of sale. Dealers will now have the flexibility to embed the finance transactions throughout the sales cycle from websites through CRM, Desking and F&I, and consumers are provided with more ways for financial approval and ultimately a better chance of getting their choice of vehicle.

"We believe that this joint venture will support our current mandate of streamlining the sales process for automotive, truck and power sports retailers," states Marty Zwolan, Vice President of Sales and Operations for Open Dealer Exchange. "Open Dealer Exchange will be able to provide a better sales process for the consumers, finance sources and dealers by acknowledging that vehicle financing is no longer just an F&I transaction. The vision for this company will be to transform traditional finance source -- dealer relationships to help close and fund more deals."

This new company is based on the highly successful Computerized Vehicle Registration (CVR) model, which was the first ADP - Reynolds and Reynolds joint venture launched in 1992 with the three-way benefit of simplifying the vehicle registration process for the state, the dealer and the consumer. Used by over 9,000 dealerships in 24 states throughout the U.S., CVR provides the state a consistent way to embed vehicle registrations into dealers' systems, including non-ADP and non-R&R clients. It also gives the dealer a more efficient sales process and saves the consumer a trip to the local DMV.

As with CVR, Open Dealer Exchange will also provide a three-way benefit, this time by changing the finance presentation model within dealerships. Open Dealer Exchange will pave the way for future improvements to the sales process that increase dealers' profitability, provide greater lending options, and create a superior buying experience. Also similar to CVR, Reynolds and Reynolds and ADP will remain fierce competitors.

"ODE is an open platform, and will deliver integration and related services to non-ADP and non-R&R dealer system providers, other finance sources that serve auto and truck retailers, and other portal finance source networks," adds Zwolan.

About Open Dealer Exchange

Open Dealer Exchange offers automotive, truck and power sports finance sources the ability to embed their branded transactions into point-of-sale (POS) systems used by automotive dealers to conduct business both in the showroom and online. A joint venture between Automatic Data Processing and Reynolds and Reynolds, Open Dealer Exchange exists to improve the overall vehicle finance process within automotive retailers throughout the United States and Canada. For more information about Open Dealer Exchange, visit us at http://www.opendealerexchange.com.

About ADP

Automatic Data Processing, Inc. (NYSE: ADP), with nearly $9 billion in revenues and over 585,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging nearly 60 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to organizations of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1-800-225-5237 or visit the company's Web site at http://www.ADP.com.

About Reynolds and Reynolds:

Reynolds and Reynolds (http://www.reyrey.com) is a leading provider of integrated solutions that help automotive retailers manage change and improve their profitability. With 75 years of experience serving automotive retailing, Reynolds enables car companies and retailers to work together to build the lifetime value of their customers. The company's award-winning software, service and training solutions include a full range of retail and enterprise management systems; networking and support; e-business applications; Web services; learning and consulting services; CRM solutions, document and data management and leasing services. Reynolds serves more than 20,000 customers comprising 90 percent of the automotive retailers and all car companies in North America. It conducts CRM consulting services on five continents.

SOURCE Open Dealer Exchange