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CCC to Retain Strategic Investment in InsurQuote/ChannelPoint Company

1 February 2000

CCC to Retain Strategic Investment in Combined InsurQuote/ChannelPoint Company

    CHICAGO--Feb. 1, 2000--CCC Information Services Inc., a wholly owned subsidiary of CCC Information Services Group , announced today that it will retain a strategic investment in ChannelPoint, Inc., which today announced that it has agreed to merge with InsurQuote Systems, Inc., a leading provider of integrated insurance rating solutions, in which CCC has been a major shareholder. ChannelPoint, Inc., is a leading e-commerce exchange services and technology platform provider for insurance and benefits companies.
    Since 1998, CCC has had held a strategic investment in InsurQuote that will be exchanged for shares in the combined entity which will be called ChannelPoint, Inc. CCC's holdings will approximate 7% upon completion of the merger, which is subject to shareholder approval.
    "We are extremely pleased for InsurQuote and confident that the combined businesses will create significant value for customers and shareholders alike," said Githesh Ramamurthy, CCC President and Chief Executive Officer.
    CCC Information Services Inc., headquartered in Chicago, IL, is the automotive claims industry's leading supplier of advanced software and communications systems. Its value-added, technology based products and services increase efficiency and facilitate communication among more than 13,500 collision repair facilities, 350 insurance companies and a range of business partners. For more information about CCC Information Services, contact Jeanene O'Brien at CCC at 312-222-4636, Peter Duckler at HLB Communications at 312-649-0371 or visit our Web site at www.cccis.com.
    Certain statements made herein are or may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. No assurances can be given that any predicted results will actually be achieved and actual results could differ materially from those predicted as the result of factors discussed in the Company's periodic reports filed with the Securities and Exchange Commission.