WARRANTECH CARIBBEAN LTD. ANNOUNCES PLAN

 TO MARKET BRANDED VEHICLE SERVICE CONTRACTS IN PUERTO RICO

Company will develop and administer new program in Puerto Rico  

BEDFORD, Texas – Nov. 3, 2003 – Warrantech Caribbean Ltd., a subsidiary of Warrantech Corporation (OTC: WTEC), a leading independent provider of service contracts and after-market warranties, announced today that effective immediately it will no longer administer the Universal Auto Care Program in Puerto Rico. 

The company, however, remains committed to the automotive industry in Puerto Rico and plans to unveil its branded program in 2004. In addition to automotive programs, for almost 10 years Warrantech Caribbean Ltd has also provided extended warranty programs to many of Puerto Rico’s leading retailers of electronics, appliances, computers and air conditioners.

Warrantech Caribbean Ltd. Is part of Warrantech’s international segment, which markets and administers service contracts and extended warranties on a similar range of products abroad. It operates in Central and South America, Puerto Rico and the Caribbean.

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.

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995:

This release contains forward-looking statements that are subject to risks and uncertainties. Other risks and uncertainties include but are not limited to, the effectiveness of cost containment measures and the continuation of current levels of business activity, the impact of competitive products, product demand and market-acceptance risks, reliance on key strategic alliances, fluctuations in operating results and cash flow and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. With respect to the proposed transaction to take the Company private, such risks include, among other factors, the ability to obtain financing for the transaction, regulatory review of the proposed transaction, and obtaining shareholder approval.  The risks and uncertainties concerning the accounting issues raised in the SEC comment letters include, among others, the outcome of further discussions with the SEC staff, the nature and extent of any accounting changes, including changes in revenue recognition, which may result from such discussions. These risks and uncertainties could affect the outcome of the matters discussed in this release and cause the company's actual results for the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company. 

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