CCC Information Services Group Inc. Announces Completion of $20 Million Rights Offering

    CHICAGO--Jan. 9, 2002--CCC Information Services Group Inc. today announced that it has successfully completed its previously announced rights offering. The rights offering closed as scheduled on December 28, 2001 and raised gross proceeds before expenses of $20 million, with 3,636,364 shares of common stock being issued at a subscription price of $5.50 per share. The rights offering was made in connection with the closing of a new, three-year $30 million, revolving credit facility with LaSalle Bank and Harris Bank.
    Under the terms of the rights offering, each holder of record of common stock and warrants as of the close of business on November 20, 2001 received one transferable right for each share of common stock or warrant held. Holders of rights were entitled to purchase one share of the Company's common stock for every 6.33949 rights held, at the subscription price of $5.50 per share.
    Pursuant to a backstop agreement, and in addition to their pro rata share of the rights offering, three of the Company's largest institutional stockholders, White River Ventures, Inc., Capricorn Investors II, L.P. and Capricorn Investors III, L.P., purchased for approximately $1.8 million a combined total of 327,533 shares, or approximately 9% of total shares issued in the rights offering, of CCC's common stock. This represents all of the shares that were not subscribed for by the Company's other rights holders.

    About the Company

    CCC Information Services Group Inc. , headquartered in Chicago, is a leading supplier of advanced software, communications systems, Internet and wireless-enabled technology solutions to the automotive claims and collision repair industries. Its technology-based products and services optimize efficiency throughout the entire claims management supply chain and facilitate communication amongst 14,800 collision repair facilities, 350 insurance companies, and a range of industry participants. For more information about CCC Information Services, visit our Web site at www.cccis.com.