Improving Liquidity for Independent Auto Dealers May Be Key to Heading off Auto Finance...

Improving Liquidity for Independent Auto Dealers May Be Key to Heading off Auto Finance Credit Crisis, GDNAuto's Mike Sheridan Says

Founder of Global Debt Network Automotive Responds To Predictions
by CNBC Guests
--(Business Wire)--
Global Debt Network Automotive:

-0-
*T
WHAT: Economist Lawrence Lindsey, president/CEO of The Lindsay
Group, and former Treasury Secretary/Cerberus Capital
Management Chairman John Snow told CNBC's Joe Kernen last
week that auto finance could be "the next domino to fall" in
the wake of the subprime mortgage crisis and reinforced the
importance of the availability of auto credit to the
nation's economy.

(Click here to view:
http://www.cnbc.com/id/15840232?video=698240023)

A new California company already is taking steps to ensure
that consumers have ongoing access to auto loans even if
financial institutions clamp down on their lending to prime,
non-prime and sub-prime borrowers. Improving liquidity for
the nation's independent auto dealers is critical, says the
founder and president of Global Debt Network Automotive, the
first nationwide auto loan portfolio auction platform
developed for auto dealers, banks, finance companies, credit
unions and hedge funds to come together to buy and sell
performing and non-performing auto loan portfolios.

WHO: Mike Sheridan, founder & president, Global Debt Network
Automotive (GDNAuto). Sheridan is available to address how
smaller, local auto dealers and finance companies can step
in to fill gaps in auto finance consumer demand should
lenders discontinue lending to auto buyers.

Sheridan also is available to comment on a recent GDNAuto-
sponsored survey conducted by market researcher Synovate
that revealed that one-third of American consumers are
"extremely" or "somewhat" concerned that the sub-prime
mortgage crisis might affect their ability to obtain a car
loan.

About Global Debt Network Automotive (www.GDNAuto.com)
GDNAuto provides auto dealers with a fast, efficient and
secure way to auction the auto loans they originate to
financial institutions and other portfolio investors.
GDNAuto offers a low-cost way for dealers to operate more
efficiently and profitably by improving cash flow and
providing the liquidity dealers need to purchase inventory
and fund daily operations. With GDNAuto, dealers can do it
all - including contracting, closing and funding - while
protecting the security of confidential customer and dealer
information.

Benefits for financial institutions and investors: GDNAuto is
a fast, efficient and secure way for financial institutions
and other purchasers of auto loan portfolios to review,
evaluate, price, sell and purchase loan portfolios from auto
dealers around the country. GDNAuto provides a secure
document management environment where financial institutions
can perform due diligence on a loan portfolio, make an
offer, write a contract and close and fund a transaction
without ever setting foot in a dealership.

Benefits for consumers: With credit standards tightening in
response to the sub-prime mortgage situation more car buyers
are driven to seek financing from their automobile dealer.
GDNAuto provides an online venue where dealer-originated
consumer auto loans can be packaged and sold to investors
and opens the door for automobile dealers to finance more
loans to consumers.

HOW: For more information, contact:
Ken Greenberg
Edge Communications, Inc.
ken@edgecommunicationsinc.com
818.990.5001
*T

Edge Communications, Inc.
Ken Greenberg
818-990-5001
ken@edgecommunicationsinc.com

Copyright Business Wire 2008