Carbiz Inc.
OTC Bulletin Board : CBZFF

Carbiz Inc.

October 23, 2007 09:00 ET

CarBiz Inc. Partners With XIGroup for Dealer Websites

SARASOTA, FLORIDA--(Marketwire - Oct. 23, 2007) - CarBiz Inc. (OTCBB:CBZFF) ("Carbiz") announced a partnership with XIGroup to provide professional websites to independent automotive dealers. The websites will integrate seamlessly with the CarBiz DMS system, allowing dealers to easily market inventories online and readily update site content, eliminating the need for costly programmers. More than 35 third-party data distribution channels - such as AutoTrader, Cars.com and EBay Motors - are included with the package.

"XIGroup offers a solid, scalable product at a price point that will appeal to our entire customer base," says Carl Ritter, chief executive officer of CarBiz. "This service expands our efforts to be a solutions provider for the independent dealer market."

"XIGroup is extremely excited about this partnership," says Bill Mulcahy, sales manager of XIGroup. "CarBiz has an excellent reputation in the automotive industry and they bring a tremendous knowledge of the independent market to the table. The integration of our services will provide dealerships of all sizes with more exciting options."

About XIGroup

XIGroup based in Baltimore, Maryland, specializes in building automotive websites for franchise and independent car dealers. Founded in 1998 and then acquired by Dominion Enterprises in 2005, XIGroup has earned a strong reputation providing quality products and a top level customer service. The company's websites have been developed by using the requests and feedback of actual automotive dealers and allows dealerships to show a professional presentation of their inventory on-line. Using this winning combination of products and service, XIGroup continues to be well-respected for providing engaging websites, personal service & proven technology at an unmatched value to the automotive industry.

About CarBiz

Based in Sarasota, Florida, CarBiz owns and operates the nation's fourth-largest chain of "buy-here pay-here" dealerships through its CarBiz Auto Credit division. The company is also a leading provider of software, training and consulting solutions to the United States automotive industry. CarBiz's suite of business solutions includes dealer software products focused on the "buy-here pay-here," sub-prime finance and automotive accounting markets. Capitalizing on expertise developed over 10 years of providing software and consulting services to "buy-here pay-here" businesses across the United States, CarBiz entered the market in 2004 with a location in Palmetto, Florida. CarBiz has added two more credit centers since - in Tampa and St. Petersburg - and recently acquired a large regional chain in the Midwest, bringing the total number of dealerships to 26 in eight states. For more information about CarBiz and its services, visit CarBiz's web site: www.CarBiz.com.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future growth plans and objectives of CarBiz. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements as a result of known and unknown risks, uncertainties and other factors. Such factors that could cause actual results and future events to differ from those anticipated in such statements include, but are not limited to, the market acceptance of CarBiz's Auto Credit Centers, CarBiz's ability to measure the default rate of its borrowers, competition, the impact of any changes in applicable government regulation and general economic conditions. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. CarBiz assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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