First American Financial Corp FAF

Credit Online extends ADP relationship

[cybertooth]

ANNAPOLIS JUNCTION, Md., Oct 11, 2001 /PRNewswire via COMTEX/ -- Credit Online, Inc., a member of The First American Corporation (NYSE: FAF) family of companies, today announced that the Dealer Services Group of Automatic Data Processing, Inc. (NYSE: ADP) has extended its joint technology and marketing agreement for five additional years. Credit Online's CreditConnection(R) technology is integrated with ADP's Elite(TM) Dealer Management System (DMS), which provides a broad spectrum of solutions for various processes involved in the operation and management of vehicle dealerships. The extension of ADP's agreement, in addition to Credit Online's recent agreement with DMS provider Reynolds and Reynolds and Credit Online's alliances with Universal Computer Systems (UCS) and other automotive software and service providers, strengthens CreditConnection's position as the automotive industry's standard technology solution for electronic financing. Through these alliances, CreditConnection integration will be available to most franchised automotive dealers throughout North America. "For years ADP's dealers and their lender partners have been benefiting from this integrated end-to-end financing solution. ADP's integration with CreditConnection has helped to improve our dealers, processes and profitability," said Mike Martone, president of ADP Dealer Services. "We expect our continuing partnership, which has been in place since 1997, to provide crucial support in our commitment to bring the brightest and best new technologies to our dealers." Howard Tischler, president and chief executive officer of Credit Online, said: "We are delighted that ADP has extended its relationship with Credit Online. Their commitment, along with that of the other top DMS providers and dozens of major lenders, has made CreditConnection the industry standard for electronic connectivity in the dealership finance area." CreditConnection is part of Credit Online's patented CreditOnline(TM) Network, an innovative technology that instantly connects dealers with credit bureaus and multiple funding sources throughout the United States and Canada via the Internet. The service is available 24 hours a day, seven days a week, expediting the credit application approval process from days to minutes. The service also provides a host of communication and analysis tools that cater to a finance and insurance manager's need to increase productivity in the key profit centers in the dealership. In August 2001, Credit Online marked a record 700,000 transactions transmitted through its electronic CreditOnline Network, making it one of the largest business-to-business marketplaces in the world. About Credit Online, Inc. Credit Online is the e-commerce subsidiary of First American CMSI. The company credit-enables business-to-business transactions through its Internet gateway and its patented CreditConnection technology, which links credit originators such as automobile dealers and borrowers with leading prime and nonprime lenders. Headquartered in Annapolis Junction, Md., First American CMSI has been the premier end-to-end credit automation solutions provider, including Internet-based online lending and leasing technology, since the company's inception in 1987. First American CMSI also licenses credit-decisioning systems for consumer and business credit that have been the choice of North America's largest and most demanding lending institutions. CreditConnection and CreditOnline are trademarks or registered trademarks of First American CMSI. For more information, visit the Web site at www.cmsinc.com. About The First American Corporation The First American Corporation, based in Santa Ana, Calif., is the nation's leading, diversified provider of business information and related products and services. The corporation's three primary business segments include: title information and services; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting; direct-to-consumer public records reporting, resident screening; pre-employment screening; automotive title administration; property and automotive insurance tracking services; property and casualty insurance; home warranties; investment advisory; and trust and banking services. Information about First American and an archive of press releases can be found at www.firstam.com. About ADP Dealer Services ADP Dealer Services Group provides integrated computing solutions to more than 16,000 automotive and truck dealers throughout the United States, Canada and Europe. ADP Dealer Services Group is the third largest business unit of Automatic Data Processing, Inc. ADP, with more than $7 billion in annual revenues and 500,000 clients, is one of the largest independent computing services firms in the world. More information on ADP and ADP Dealer Services Group is available via the Internet at www.adp.com and www.dealersuite.com. ADP is a registered trademark of ADP of North America, Inc. Elite is a trademark of ADP, Inc. For further information, please contact Nancy Weil, Senior VP, Marketing of First American CMSI, [phone], ext. 6089, or Dana Fredrickson, Director, Marketing Communications of ADP Dealer Services, [phone], ext. 2905.