ONE WORLD POWER PACK SUPPORTS NEW VEHICLE PLAN
FROM WARRANTECH AUTOMOTIVE

 

Company develops complete Internet-based F&I management system

 

BEDFORD, Texas - Feb. 1, 2004 - Warrantech Corporation (OTC: WTEC), a leading independent provider of service contracts and after-market warranties, has developed a robust Internet-based F&I management system that will be used in tandem with its new One World family of products.


The Power Pack software ensures a consistent dealer sales presentation of all One World products and is fully compatible with most dealer management systems. It allows for a customized menu sales presentation and features an electronic rating for all products and a vehicle identification number (VIN) decoder.


"The One World Power Pack gives dealers real-time reporting on all the One World F&I products, said Chris Ford, president of Warrantech's automotive division. It creates sales transmittals for each product, and by using Warrantech's advanced VCS Online platform, data can be transferred to us electronically."


Another convenient feature, says Ford, is the ability to "roll payments" - to demonstrate the effect of an add-on warranty to the car's base monthly price, or change parameters to get to a payment a customer wants and can afford.


The menu supports Warrantech's new One World Products consisting of vehicle service contracts, GAP, etch, etch replacement, and tire and wheel and appearance group.

 

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 may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties include, but are not limited to, the outcome of further discussions with the staff of the Securities and Exchange Commission concerning the accounting issues and the nature and extent of any accounting changes, including changes in revenue recognition, which may result from such discussions; the effect of any potential material adverse change in the Company's financial results based upon such potential accounting changes; 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. 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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Contacts:

Richard Gavino, Chief Financial Officer

Virginia Stuart, VP-Investor Relations

 

Warrantech Corp.

Michael A. Burns & Associates

 

(817) 785-1366

(214) 521-8596

 

richard_gavino@warrantech.com

vstuart@mbapr.com