The Illinois Independent Automobile Dealers Association Endorses the Reynolds LAW(R) 553 Retail Sale Contract

DAYTON, Ohio, Dec. 16 /PRNewswire/ — Reynolds and Reynolds today
announced that the Illinois Independent Automobile Dealers Association
(IL-IADA) has endorsed the Reynolds LAW(R) 553 Universal Retail Installment
Sale Contract for the 3,900 automobile dealerships that it represents
throughout the state of Illinois. The LAW 553, as it is commonly known in the
industry, is the most widely used document in automotive finance.

In its endorsement, the IL-IADA recognized how the use of the LAW 553 by
automotive dealerships can deliver a number of benefits:

    -- Universally accepted by a wide range of funding sources

    -- Increases the dealers' ability to shop finance transactions

    -- Provides improved customer satisfaction through reduced contract
       preparation time in the dealership

    -- Increases spot delivery percentages

    -- Results in fewer errors and less paperwork thanks to using one
       standardized form

    -- Provides greater productivity for F&I managers

    -- Allows a dealer more time to sell other finance products and services

Additionally, by offering the LAW 553 to automotive dealerships in the
state of Illinois, the IL-IADA can help assure that the dealerships are using
sale contracts that accurately reflect Illinois law and industry regulations.
The Reynolds LAW 553 is regularly reviewed to keep pace with new legislative
and regulatory developments.

When speaking about the endorsement, IL-IADA Executive Director Bruce
Eklund, said, “The Illinois IADA believes the LAW 553 would lead to greater
productivity and profitability for our dealership members. The benefits of
using the LAW 553 are numerous, and two of the most advantageous are saving
money and remaining in compliance with industry regulations and specific state
requirements. The fact that the LAW 553 is regularly reviewed takes a
tremendous burden off our dealership members.”

A state-specific version of the LAW 553 is produced for each state in
order to reflect that state’s laws and regulations. The Reynolds LAW 553 is
also available in a number of different languages, and can work with any
automobile dealer’s dealership management system. For more information, see
http://www.reyrey.com. Search key word: LAW.

About Reynolds

Reynolds and Reynolds was founded in 1866 as a business forms printer.
Today, Reynolds is recognized as the leading provider of automobile dealership
software, services, and forms that help dealerships improve business results.
The company is headquartered in Dayton, Ohio. (http://www.reyrey.com)

SOURCE The Reynolds and Reynolds Company