MISSISSAUGA, Ontario, April 24, 2002 Mr. Paul Timoteo, President and
CFO of CCC Internet Solutions Inc. “CCC” (CDNX: CIS 10,501,952 shares
outstanding) is pleased to announce that 43r.ca has signed its second “Vendor
Agreement” with ALLSTATE Insurance “ALLSTATE”. The agreement is to remain
in full force and effect indefinitely with either party having the right to terminate at
any time providing 30 days written notice.
“In less than two weeks we have signed our second
major agreement. ALLSTATE is a very big win for 43r.ca and CCC.” Reports Paul
Timoteo. “43r.ca has clearly staked out its niche in the Insurance industry.
Combined, ING and ALLSTATE represent approximately 20% of 43r.ca’s target marketplace.”
As disclosed on April 17, 2002, 43r is currently generating
revenue from multiple users. Presently Management is negotiating several additional Vendor
Agreements that we anticipate concluding within the coming weeks and months ahead. Upon
completion of such negotiations, CCC will then look to provide revenue guidance to our
shareholders as and when available.
For competitive reasons, financial terms of the agreement
were not disclosed, however it is projected that revenue from 43r.ca will be materially significant to CCC.
About CCC Internet Solutions Inc…
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, based on an estimate of 50,000 claims with $1,000 savings per
claim, would be upwards of $50,000,000 CDN annually.
Throughout 2002 “CCC” will focus on the continued and aggressive expansion of its
multiple revenue streams, enhancement of its Web sites and move toward sustained profitability.
Visit our Web sites and watch us roll!
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 Email: [email protected]
