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Warrantech Adds DEALERNET to Sales Agent Team

August 12, 2003

Warrantech Corporation, an independent provider of service contracts and after-market warranties, has signed a new automotive sales agent, DEALERNET Management Services, Ltd., based in Stevenson, Md.

DEALERNET, founded in 1982, provides aftermarket warranty and service plans to approximately 200 automotive dealers in Maryland, Pennsylvania and Virginia, and will immediately begin offering its private label Car Care Connection plan, which will be administered by Warrantech. DEALERNET’S current book of business will represent about an eight percent increase in Warrantech’s Automotive unit volume, says the company.

In addition to vehicle service contracts, DEALERNET also markets gap insurance, environmental packages, window etching, and tire and wheel programs.

Steve Schloss, president and CEO of DEALERNET, said the company began a limited trial of the Warrantech plan offering in a test group of dealerships. “What began as an evaluation process turned into a full-bore partnership,” he said. “We were highly impressed with their state-of-the art technology, particularly the company’s VSC Online platform, and the capabilities and ease-of-use it offered our dealers.”

Warrantech says its VSC Online is an Internet-based tool that enables virtually “paperless” warranty registration, processing of dealer-produced contracts and administration and claims payment filed by service contract holders.

“Car Care Connection is a long-standing and highly recognizable brand in our industry,” said Chris Ford, president of Warrantech’s Automotive Division. “Steve adds to that with a keen sense of salesmanship, integrity and customer service that is recognized by his peers everywhere. We’re very pleased to team with him.”

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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