Carbiz Inc.
OTC Bulletin Board : CBZFF

Carbiz Inc.

September 20, 2007 11:54 ET

CORRECTION FROM SOURCE: CarBiz Inc. Promotes Halloran to Vice President of Finance

SARASOTA, FLORIDA--(Marketwire - Sept. 20, 2007) - In the release issued at 10:05AM ET on Sept. 20, 2007 there was an error in the title of the release. Jennifer Halloran was promoted to vice president of finance, not controller. The complete and correct release follows.

Carl Ritter, chief executive officer of Sarasota-based CarBiz Inc. (OTCBB:CBZFF) ("CarBiz"), announced the promotion of Jennifer Halloran to vice president of finance. Mrs. Halloran previously served as controller at CarBiz, where she has been employed since 2000 in accounting, human resource administration and administrative operations. In this position Jennifer's responsibilities will increase to handling the reporting functions for the SEC. Before joining CarBiz, she served as general manager for a national food service company.

"We recognize the quality leadership Jennifer Halloran has brought to CarBiz and her promotion will help position us for future growth," said Stan Heintz, chief financial officer of CarBiz.

About CarBiz

Based in Sarasota, Florida, CarBiz is 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. CarBiz also operates "buy-here pay-here" dealerships in Florida through its CarBiz Auto Credit division that are wholly-owned or joint venture companies. 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 CarBiz seeks to expand its operations in Florida in the future. For more information about CarBiz and its services, visit CarBiz's web site:

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, the ability of CarBiz to effectively deploy the funds received from the convertible debenture financing, the ability of CarBiz to close on additional tranches of the convertible debenture financing, the possibility that the liquidated damage provisions or the default provisions could be triggered under the terms of the convertible debenture financing which could be adverse to CarBiz, 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.

Contact Information

  • CarBiz Inc.
    Jennifer Downey
    Software Operations Manager
    (941) 952-9255, ext. 1203