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Auto Industry Leaders Launch Independent Company to Develop Virtual Parts Exchange.


Business Editors & Automotive Writers

DENVER--(AutomotiveWire)--May 9, 2000

The Reynolds and Reynolds Company (NYSE NYSE

See: New York Stock Exchange
:REY REY Religious Education for Youth ), CCC CCC

A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa.
 Information Services See Information Systems.  Inc. (Nasdaq:CCCG CCCG Canadian Conference on Computational Geometry
CCCG Climate Change Co-ordinating Group
), and the Dealer Services and Claims Solutions Groups of Automatic Data Processing Same as data processing. , Inc. (NYSE:AUD AUD

In currencies, this is the abbreviation for the Australian Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
), today formally launched a new, independent company, ChoiceParts, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
. In summer 2000, the company will introduce an innovative virtual parts exchange serving the multi-billion dollar auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
  • Air filter
  • Automobile self starter
  • Bell housing
  • Brakes
  • Bucket seat
  • Bumper
  • Buzzer
  • Battery
 market. The new company will be headquartered in Denver, Colorado.

ChoiceParts(TM) will serve as an electronic auto parts marketplace for the more than 24,000 North American North American

named after North America.


North American blastomycosis
see North American blastomycosis.

North American cattle tick
see boophilusannulatus.
 franchised auto retailers, other parts suppliers and more than 50,000 collision repair facilities.

By integrating workstations that are already in place inside auto retailers and collision repair facilities, ChoiceParts will enable buyers and sellers in the parts supply chain to instantly locate and order the parts they need, helping deliver high er customer satisfaction rates across the automotive and collision repair industries.

An interim management team from the founding companies will direct the rapid building of the new company and the development of the new service. The interim team will be led by Peter Largen, senior vice president of product development from CCC, Bill Ihrie, senior vice president of technology from ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing.

(2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp.
 Claims Solutions Group and Tom Baird, vice president, corporate strategy and development from Reynolds and Reynolds. A search is underway for a permanent chief executive officer and the company will begin hiring additional employees immediately.

"By building upon the resources and relationships of ADP, CCC and Reynolds, ChoiceParts can bring together the industry's largest and most trusted network of automotive dealerships and collision repair facilities to provide instantaneous access to a virtual warehouse of auto parts," said Largen. "By moving aggressively to launch the service late this summer, we're confident that ChoiceParts will lead the online parts exchange industry."

Largen said that ChoiceParts will also provide tremendous value for optimizing the auto supply chain, which could save the combined industry participants billions of dollars. "There is a tremendous excess inventory of service and collision parts in the supply chain, yet often the right parts are not readily available when and where they are needed. We're essentially creating a virtual parts exchange or marketplace that will allow key industry participants to optimize the supply chain of parts used by auto retailers and collision repair facilities," said Largen.

"Auto retailers, collision repair facilities, vehicle manufacturers and insurance companies as well as their customers are the ultimate benefactors, as the instances of repairs being delayed because of the unavailability of parts can be dramatically reduced," he added.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Bill Ihrie, ChoiceParts is already far along in developing the necessary technical infrastructure for the service. "The founding companies are each contributing technical and intellectual assets that will form ChoiceParts ' first solutions. A great deal of the development work is already behind us.

"Although we are officially launching the company today, we're seeded with tremendous assets from the founding companies that will expedite our entry into the market," continued Ihrie. "Each company is contributing a wealth of intellectual capital, key executives and technical assets that are unmatched in this industry."

"What makes ChoiceParts' solution so unique is its integration with existing systems at thousands of dealerships and collision shops across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ," added Tom Baird. "Our first solution will allow auto retailer parts personnel to quickly find and order parts needed for customer service right from their existing workstations, even if those workstations are not PC-based. That's a tremendous advantage. Later this year we'll bring that same, point-of-need functionality to collision repair facilities."

The three founding companies announced their intent to form the new company in February and recently completed the transaction, setting the stage for the company's formal launch.

"When the customer wants his or her car at the end of the day, retailers and collision repair specialists need the right part, right now. It usually needs to be delivered from across town, not across the country. ChoiceParts will provide unprecedented speed, accuracy and convenience by ensuring auto retailers and collision repair specialists that needed parts and information are only a few keystrokes away," Largen said.

Additional information about the company is available on the Web at www.choiceparts.com.

About Reynolds and Reynolds

Reynolds and Reynolds, headquartered in Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. , is intent on leading the transformation of worldwide automotive retailing with information management, eCRM and Internet solutions. The company reported revenues of $1.56 billion for the fiscal year ended Sept. 30, 1999. For more information on Reynolds and Reynolds, visit the company's Web site at www.reyrey.com, or call the Information Hotline at 1-888-4REYREY.

About CCC

CCC Information Services Inc., headquartered in Chicago, IL, is a leading supplier of advanced software and communications systems to the automotive claims industry, including information and network services for automotive and medical claims management. Its value-added, technology-based products and services increase efficiency and facilitate communication among more than 13,500 collision repair facilities, 350 insurance companies and a range of business partners. For more information about CCC Information Services, visit the company's Web site at www.cccis.com or contact Jeanene O'Brien at CCC Information Services Inc. 312-222-4636.

About ADP

Automatic Data Processing Inc., with more than $5 billion in annual revenues and more than 450,000 clients, is one of the largest independent computing services firms in the world. ADP Dealer Services Group, headquartered in Hoffman Estates, Illinois Hoffman Estates is a northwestern suburb of Chicago in Illinois. The village is located primarily in Cook County with a small section in Kane County, Illinois. As of the 2000 census, the village population was 49,495 and estimated to be 52,520 in 2003. , is a leading provider of integrated computing and e-business solutions to more than 18,000 automotive and truck dealers throughout the United States, Canada and Europe. ADP Claims Solutions Group, headquartered in San Ramon, California San Ramon is a city in Contra Costa County, California, United States. It is a part of the San Francisco Bay Area. Since 1980, the population of San Ramon has increased by over 128% from 22,356 to 51,027 in 2005. , is a leading provider to the property & casualty insurance industry and their business partners with information services for automotive, medical and property claims management in 22 countries. More information on ADP, Dealer Services, and Claims Solutions Group is available via the Internet at www.adp.com.

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21 of the Securities Exchange Act of 1934 and are subject to the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of those sections and the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, including regulatory approval, completion of definitive documentation and competition, and that the actual results or developments may differ materially from those in the forward-looking statements. The companies have based these forward-looking statements on information currently available and disclaim any intention or obligation to update or revise any forward-looking statement.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 9, 2000
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