Warrantech Appoints Shaw President of Consumer Products; Industry Veteran Tapped to Grow Business By Identifying New Offerings, Markets

    BEDFORD, Texas--March 26, 2003--Warrantech Corporation (OTCBB:WTEC), a leading independent provider of service contracts and after-market warranties, has promoted James Burton (Burt) Shaw II to president of the company's Consumer Products Division.
    Shaw, 46, joined Warrantech in December 2002 as an executive vice president responsible for its consumer products business in the U.S. and Canada. In his new position, he is responsible for defining and implementing strategies that result in deeper penetration of existing markets, as well as identification of new product offerings and new markets that will drive revenue growth.
    Prior to joining Warrantech, Shaw spent more than 21 years in a variety of increasingly responsible sales, business development and management positions with leading retailers and third-party warranty providers. Most recently, he was director of new business development for Sterling, VA-based N.E.W. Customer Service Companies (NEW), which provides extended warranties, buyer protection and risk avoidance services for top retail chains and Fortune 500 companies.
    Before NEW, he was a regional vice president at AON Warranty Group, where he was responsible for acquiring and retaining a diverse portfolio of clients whose retail sales represented more than $1 billion.
    "We are pleased by Burt's rapid ascent and his strategic assessment of Warrantech's growth plans," said Joel San Antonio, chairman and chief executive officer of Warrantech. "He brings a stellar track record and a wealth of focused industry experience and contacts to his new position. His leadership will help us execute our aggressive marketing strategy for the business."
    Shaw said he intends to focus on growing new business by continuing Warrantech's heritage of service program innovations and through a "relentless customer focus and improvements in account management and business processes" that will keep the company at the forefront of the independent service provider community.

    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.

    Note to editors: Mr. Shaw's photo is available upon request.