Warrantech International Signs Agreement With Subsidiary of Global Electronics Retailer; Company to Sell Extended Warranties to Royal Ahold Affiliates in Peru

    EULESS, Texas--Nov. 13, 2002--Warrantech Corporation (OTCBB:WTEC), a leader and innovator in the marketing and administration of service contracts and extended warranty programs, today announced that a subsidiary of Warrantech International Inc., the company's international division, signed a two-year agreement with Ahold Peru a subsidiary of Royal Ahold, a Dutch consortium.
    Royal Ahold owns a chain of retail stores in Peru including Supermercados Santa Isabel, Hipermercados Plaza Vea and lendas de Desceunto Minisol. The terms of the agreement call for Warrantech de Peru S.R.L. to offer point-of-sale extended warranties on all consumer electronics and appliances sold at Plaza Vea and Santa Isabel stores.
    "Warrantech International is very pleased to add Plaza Vea to our rapidly expanding list of exceptional clients in Peru," said Richard Rodriguez, President of Warrantech International. "We are confident that this relationship will benefit both companies for many years to come. Plaza Vea's store design is outstanding and should prove to be excellent for the sale of our extended warranty products."
    The Royal Ahold chain of stores join other companies such as Mavila, Saga Falabella, Ripley, Tiendas, EFE and Electrosave in using Warrantech to administer warranty and service contracts for their customers. Ahold and other electronic retailers form part of the largest retail chains in Peru.
    "Our business in South America continues to grow as we intensify our marketing efforts," Joel San Antonio, Warrantech chairman and chief executive officer, said. "The agreement with Ahold Peru is further proof that Warrantech can effectively adapt its service contract and extended warranty programs for the Latin American market while providing solid profits for our South American clients. When you do business with Warrantech, everyone wins."

    About Royal Ahold:

    As world second largest retailer, Ahold operates in 27 countries. Ahold has 9,000 stores in the United States, Europe, Asia and Latin America. In Peru, Ahold owns 22 supermarkets, 4 Hypermarkets and 6 discount stores.

    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 contains forward-looking statements that are subject to risks and uncertainties. Other risks and uncertainties include but are not limited to, the effectiveness of cost containment measures and 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 could 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.