VINtek Achieves Record Growth in Down Market

Growth illustrates demand for direct-to-consumer technologies
PHILADELPHIA--(Business Wire)--
VINtek, a provider of automotive collateral management services
for banks, credit unions and other automotive finance lenders,
announced that its revenue for the first six months of 2008 has
increased 39 percent compared to the same period last year. In the
second quarter of 2008 VINtek's revenue increased 47 percent over the
same period a year ago.

Despite the nationwide double-digit decline in the number of new
and used vehicles sales in 2008, VINtek continues to see growth in its
revenue and in its customer base. A significant contributor to the
record revenue growth is the increased transaction volume realized in
VINtek's direct-to-consumer (D2C) platform, which provides lenders
with Web-based document presentment to consumers and lien perfection
for vehicles financed through private party purchases, existing auto
loan refinances, lease buy-out financing and dealership sales.

Since January 2008, 230 new customers signed up with VINtek,
another factor contributing to the company's record revenue growth.
This number includes customers using VINtek's collateral management
technologies and services for the first time as well as those who are
switching to VINtek from another service provider. From July 2007 to
June 2008, VINtek's customer base increased more than 200 percent.

"As a result of the flight to quality for title administration
processing that is occurring in the auto lending industry, VINtek
acquired a considerable number of new customers who were interested in
the best value for their collateral management processes in order to
increase profitability and maintain a positive lending experience for
their borrowers," said Larry Highbloom, president of VINtek. "The
demand by lenders for a complete and proven D2C financing platform is
expected to continue to grow as lenders seek to complement or
supplement their indirect lending business. We see D2C as one of the
most important developments of 2008 in terms of auto finance."

For more information on VINtek's recent growth or the increasing
importance of D2C within the auto financing industry, contact Sarah
Cannon at (678) 781-7216.

About VINtek

Founded in 1990, Philadelphia-based VINtek provides automotive
collateral management services and business process outsourcing for
banks, credit unions and other auto finance institutions using paper
or electronic titles. A provider of Electronic Lien and Title (ELT)
technology, VINtek helps lenders increase efficiency, decrease costs
associated with account management and reduce errors and exceptions on
title liens through automation. For more information, visit
www.vintek.com.

For VINtek
Media contact
Sarah Cannon, 678-781-7216

Copyright Business Wire 2008