NEWS RELEASE
CENTRAXX AND ZURICH CANADA TEAMING UP
TO COMBAT AUTO THEFT IN ONTARIO AND QUEBEC
Toronto, Ontario, June 1, 2000? Centraxx Inc. (OTCBB:CNXX) and Zurich Canada
have joined forces to combat auto theft in Ontario and Quebec utilizing the
Centraxx AutoRescue(TM) system and involving a special program developed for
Zurich Canada auto policyholders in the area. Zurich Canada and Centraxx
will jointly develop a direct marketing package and a broker incentive plan
to support the program.
The market area for Ontario will include the Golden Horseshoe area and
Windsor to Ottawa areas, as well as all major northern highway arteries.
The market area for Quebec will include Montreal and Quebec City and
arteries leading to and from the Ontario coverage area. Zurich Canada has
approximately 430,000 insured vehicles in the market areas that could
potentially be protected by the Centraxx AutoRescue system. Centraxx and
Zurich estimate that the participation rate in the joint program could
exceed 50%. The program will be gradually rolled out in lockstep with the
Centraxx network buildout later this year and into 2001.
?Partnering with the insurance industry offers many synergies,? stated
Centraxx V.P. Sales, Bob Hill. ?It is an excellent distribution channel for
AutoRescue and it enables another forward-thinking insurer to reduce losses
associated with car theft and to strengthen customer relationships through
added benefit programs. We are delighted to add Zurich Canada as a
strategic partner.?
?The Centraxx AutoRescue program provides Zurich with an effective tool for
managing risk associated with automobile theft and equally important, an
opportunity to enhance the Zurich experience for our policyholders,? stated
Zurich Canada Director, Pricing & Product Development, John Chan. ?We look
forward to a mutually beneficial relationship with Centraxx.?
About Centraxx Inc.
Centraxx Inc. is a wireless data communications company currently focusing
on providing location technology solutions to the mass market. Centraxx has
a patent pending RF land-based system that it intends to deploy in a network
configuration in key markets across North America. Centraxx UNI-POINT(TM)
technology is capable of providing high-speed, two-way data transfer and
single point tracking and locating information. Over time, this
proprietary, high capacity network will facilitate the wireless transfer of
data for a wide range of products and applications.
Centraxx will first introduce an automotive application, the AutoRescue
vehicle tracking and recovery system with AutoRescue PLUS(TM) roadside and
emergency notification service and LifeLink(TM) automatic collision
notification. This will be the world?s first vehicle tracking system
combining high accuracy, self-arming reliability and affordability.
More information regarding Centraxx and its products and services can be
found on the World Wide Web at www.centraxx.com.
About Zurich Canada
Zurich Canada is one of the country's leading providers of home, auto and
life insurance protection to Canadians, their families and businesses.
Zurich Canada is a member of Zurich Financial Services, a leading
internationally-recognized provider of insurance and financial services in
nonlife and life insurance, reinsurance and asset management. It offers
financial protection and investment solutions to customers in the personal,
commercial and corporate market segments. Headquartered in Zurich,
Switzerland, the group operates in 50 countries worldwide and employs 47,000
people.
More information regarding Zurich Canada and its products and services can
be found on the World Wide Web at www.zurichcanada.com.
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For more information contact:
Centraxx Investor Relations:
Chuck Courson, Director
Frankopan & Co.
Tel. 1-800-355-1564 Ext. 243
E-mail: ccourson@frankopan.com
Centraxx Inc.:
Michael Ivezic
Chairman and CEO
Tel. 905-826-9988 Ext. 224
E-mail: mivezic@centraxx.com
Zurich Canada
John Chan
Director, Pricing & Product Development
Tel. 416-813-3316
E-mail john.chan1@zurich.com
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks
and uncertainties, including, without limitation, acceptance of the
Company's products, increased levels of competition, new products and
technological changes, the Company's dependence upon third-party suppliers,
and other risks detailed from time to time in the Company's periodic reports
filed with the Securities and Exchange Commission.
The information in this release has been neither approved nor disapproved by
any regulatory body.)
Chuck Courson
Financial Public Relations
Frankopan & Co.
1-800-355-1564 Ext. 243
www.frankopan.com |
