Warrantech Corporation, a service contract and extended warranty provider for

automobiles, recreational vehicles and other consumer products, announced it has

launched a new warranty program targeting large automobile

dealerships.

Under an agreement with Automotive Investment Group, a general agent on the East Coast, Warrantech began marketing this

reinsurance program on Jan. 1. To date, Warrantech says several clients have signed up

for the extended warranty program that is insured through Heritage

Insurance Risk Retention Group. As a result, Warrantech claims new warranty contracts on

this program are currently exceeding 2,000 per month.

"We are extremely pleased that Warrantech's first master general

agent account has resulted in the acquisition of incremental business

from our targeted market so quickly," Joel San Antonio, chairman and

chief executive officer of Warrantech, said. "Initially, we targeted a

15 percent to 20 percent increase in new business volume in FYE 2003

for Warrantech Automotive. To date, we are exceeding our target, and

anticipate that this reinsurance program will continue to grow at a

rapid rate. In view of the popularity of this program, we expect to

accelerate our plans to aggressively increase penetration in this

lucrative segment of the $6 billion dollar automotive market."

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.