MISSISSAUGA, Ontario, March 26, 2002 – Mr. Paul Timoteo, President & CFO of CCC
Internet Solutions Inc. “CCC” (CDNX: CIS 10,501,952 shares outstanding) is pleased to report that
its newest product, 43r.ca, has exceeded management’s expectations regarding
functionality, profitability and potential savings to the insurer.
In cooperation with some of Canada’s largest Insurance
companies CCC management has proven conclusively that 43r.ca has the accuracy,
practicality, profitability and real claims savings to make a significant impact on this
marketplace. By all measures, results were all well above expectations.
“Since inception, response from the Insurance Industry
has been overwhelmingly positive.” Reports Paul Timoteo, “Savings to the Insurer
are now projected 40% to 60% higher than originally forecasted.”
Negotiations with several Canadian Insurers are now
currently underway. Management expects to report several “Vendor Agreements” for
its 43r.ca product in the coming weeks ahead. It is anticipated by Management that such
“Vendor Agreements” will be materially significant.
With much anticipation, Management will soon provide
further guidance to shareholder’s regarding 43r.ca’s revenue potential.
About CCC Internet Solutions Inc (www.cccis.ca)
CCC Internet Solutions Inc. is an Internet based Automotive
Information Service provider that owns and operates revenue producing automotive related
Web sites. Through its B2C Web site at www.carcostcanada.com, “CCC” offers
comprehensive up to date new car buyer information, including confidential dealer invoice
cost prices, to aid the consumer in making informed choices by providing accurate and
timely data. Through its B2B Web site, www.43r.ca,
“CCC” exclusively serves the Automotive Insurance Industry. By providing
valuable data to the Insurer, 43r.ca dramatically lowers settlements on automobile
total-loss claims with 43r/Waiver of depreciation endorsements. Potential savings to the
Industry are estimated to be upwards of $50,000,000 CDN annually.
Throughout 2002 “CCC” will continue to focus on the aggressive expansion of its
multiple revenue streams, enhancement of its Web sites and its move toward sustained profitability.
Visit our Web sites and watch us grow!
This release contains certain forward-looking statements
that reflect the current views and our expectations of the Company with respect to its
performance, business and future events. Such statements are subject to a number of risks,
uncertainties and assumptions. Actual results and events may vary significantly. The
Canadian Venture Exchange has not reviewed and does not accept responsibility of the
adequacy or accuracy of this release.
For further information please contact:
Mr. Paul Timoteo,
President & CFO
CCC Internet Solutions Inc.
Tel: (800) 805-2270 or (416) 937-2274