WARRANTECH AND CINCINNATI REALTORS PARTNER WITH HABITAT FOR HUMANITY
Leading Warranty Provider and Realtors Donate Cash and Home Warranties in Support of Affordable Housing for Low Income People

CINCINNATI (Aug. 7, 2008) — Warrantech Home Service Company, a subsidiary of Warrantech Corporation, announced the creation of an innovative new partnership designed to help low-income families in Cincinnati. Warrantech and a group of area Realtors have volunteered to donate earnings from the sale of Warrantech Home Warranties to Cincinnati Habitat for Humanity, a global home-building movement dedicated to furnishing affordable housing for disadvantaged people. In addition to cash donations by the selling realtor, Warrantech has pledged to provide a number of new home warranties to Habitat for Humanity recipients.

Affiliated with more than 2,000 local chapters, state supported associations and national organizations in more than ninety countries, the Cincinnati Habitat for Humanity Chapter was founded in 1986. Privately funded, Cincinnati Habitat does not receive support from United Way or Habitat for Humanity International. Home building funds come from cash donations and in-kind contributions from Cincinnati businesses, churches, foundations, organizations and individuals that provide money, labor and talent for each Cincinnati Habitat housing project. During the past twenty-two years, the Cincinnati Chapter has built more than 140 homes for working mothers, fathers and children in need.

“Habitat for Humanity is a great organization that has helped thousands of people move into safe, affordable homes,” said Joel San Antonio, CEO of Warrantech Home Service Company. “We recognize the hard work and selfless service that Habitat for Humanity and their dedicated group of volunteers give to families in need, and we want to do our part to lend a hand to the community.”

“At Warrantech, we provide value to homeowners by helping them maintain their property by minimizing costly repairs with a comprehensive home warranty program,” added Bryan McDonald, director of sales for Warrantech Home Service Company. “Through Habitat for Humanity, we can support a worthwhile cause and give families a break from unexpected repair bill expense, while allowing them the chance to enjoy the home of their dreams.”
“Cincinnati Habitat works in partnership with donors, volunteers and families to build a sense of community in addition to providing affordable housing for families in need,” said Tom Salzbrun, executive director of Cincinnati Habitat for Humanity. “The home ownership rate in Cincinnati is about 40 percent. This is very low compared to national averages. There are about 32,000 local families that are unable to afford simple, decent shelter. We truly appreciate the support and dedication of the Cincinnati-area Realtors that have banded together with Warrantech to help support our community.”
According to Mark Sparks, Warrantech’s sales representative in Ohio, Warrantech will donate a home warranty for every 25 funded warranties per broker office in Cincinnati. Participating brokers will donate all or a portion of the administration fee they receive from selling a Warrantech home warranty to the Cincinnati Chapter. “Habitat for Humanity is highly regarded by the Realtors across the country. Once the Cincinnati program is up and running, we plan to offer this program to the other 1,600 chapters throughout the U.S.,” said Sparks.

“This year, Cincinnati Habitat will build 11 new homes and will rehab one. We welcome Warrantech and their Realtor affiliates as partners in helping us help others,” Salzbrun noted. With donations and volunteer labor, CHHC will be able to continue working to build affordable homes for partner families that invest 500 hours of sweat equity into each Habitat home. In return, the homes are sold to the families at no profit and financed with a no-interest loan. The monthly mortgage payments from completed Habitat homes help fund the construction of additional homes for other needy families.

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About Cincinnati Habitat for Humanity:
Habitat for Humanity is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Founded in 1986 as an affiliate of Habitat for Humanity International, Cincinnati Habitat for Humanity is a non-profit Christian housing ministry that seeks to eliminate substandard housing by building simple, decent, affordable homes to sell to low-income families in need. For more information, visit www.cincinnati-habitat.org.
 

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.  Acquired by H.I.G. Capital in 2007, the company continues to expand its domestic and global penetration, and now provides its services in the United States and Canada. www.warrantech.com.
 

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