CarBiz to Highlight Future Car loan Growth Strategies

CarBiz Inc. (OTCBB: CBZFF), the fourth largest buy-here pay-here car dealership chain in the United States and the second largest publicly traded buy-here pay-here company will discuss its future growth strategies at its upcoming annual general meeting this week. The Company’s AGM will be held Thursday, June 19 in Sarasota, Florida.

Along with the election of directors of the Company for the upcoming year and the presentation of year end financial statements by senior management, senior management also will outline its goals for the Company for fiscal 2009. Those items will include expanding its Tier 2 program, upgrading its facilities, and reducing its debt.

After a successful pilot project, CarBiz anticipates expanding its Tier 2 program across all 26 stores in July. This program is expected to enhance growth for CarBiz while also increasing the ratio of Tier 2 to Tier 1 loan packages.

Upgrading store facilities will also be on the agenda. One location in Indianapolis and another in Springfield, Ohio have already been relocated to increase sales volumes. Physical store improvements are expected to continue over the next two years at most of CarBiz’s locations in terms of size, staffing and capacity in order to increase revenues.

Debt reduction and cash flow improvements will also be discussed. The Company is working on a number of initiatives to improve these areas and fully expects to make announcements pertaining to these items over the summer months.

CarBiz CEO Carl Ritter said, “This will be a very exciting year ahead of us. We have a solid business plan in place and it’s now time to start executing our plan. While I am proud of our accomplishments thus far I am even more determined for the months ahead. I look forward to speaking with our supporters and sharing with them our goals and vision for the future as we grow the business of CarBiz.”