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Warrantech Appoints Michael Bailey President of Canadian Operations

January 7, 2002

Warrantech Corporation, a service contract and aftermarket warranty provider, announced Jan. 7 the appointment of Michael C. Bailey as president of its Canadian operations.

In his new position, Bailey will be responsible for establishing operations in Canada to service Warrantech's Canadian customer base and increasing the company's market penetration for consumer products, home and automotive service contracts and extended warranties throughout Canada.

'We are pleased to welcome Michael to the Warrantech management team," said Joel San Antonio, chairman and chief executive officer of Warrantech. "He has extensive experience in developing, managing and marketing warranty and customer service programs. This extensive insight and knowledge of the Canadian market will be a significant asset to providing retailers Warrantech's innovative products and programs that will enhance our expansion and presence there."

Prior to joining Warrantech, Bailey served as a warranty consultant to numerous electronic, appliance and HVAC retailers and utilities including A&B Sound, Canada's largest privately held electronics retailer; and as an assistant vice president with ACE International Insurance, developing warranty programs internationally for this multinational insurance company.

About Warrantech

Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers. The company continues to expand its domestic and global penetration, and now provides its services in the United States, Canada, Puerto Rico and Latin America. For additional information on Warrantech, access www.warrantech.com.

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