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CBZFF...Carbiz Inc. Commences Trading on the U.S. OTC:BB

Market Wire "US Press Releases "

SARASOTA, FL -- (MARKET WIRE) -- 10/03/06 -- Ewire -- Carl Ritter, chief executive officer of Carbiz Inc., (OTCBB: CBZFF) announced the commencement of trading for Carbiz stock on the U.S. OTC:BB under the symbol CBZFF.OB. Carbiz stock will cease to trade on the TSX Venture Exchange today.

"This is a major milestone for Carbiz that will help fuel the expansion strategy for Carbiz Auto Credit, the company's specialty automotive consumer finance division," Ritter said.

Based in Sarasota, Florida, Carbiz is a leading provider of software, training and consulting solutions to the U.S. 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 a chain of "buy-here pay-here" dealerships in Florida which are wholly owned and joint venture companies.

The Carbiz Auto Credit division operates in a $50-billion-a-year industry providing consumer financing for automotive loans at buy-here, pay-here locations. 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. The company has added two more credit centers since -- in Tampa and St. Petersburg -- and plans to expand with multiple units across Florida.

Carbiz has reported double-digit growth in annual revenues for the past three fiscal years. The company recently reported that revenue increased by 31% or U.S. $1,057,648 in the fiscal year ending Jan. 31, 2006, compared to the prior year. This was a result of software and consulting revenue growth of 14% or U.S. $297,727 and an increase in auto sales from the Carbiz chain of dealerships of 152% or U.S. $902,124.

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 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. 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.

The OTC:BB has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact:
Heidi Smith
Heidi Smith Communications, Inc.
[phone]

Company Contact:
Carl Ritter
Chief Executive Officer
Carbiz Inc.
[phone], ext. 1014