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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sandra who wrote (1316)	3/2/1998 2:22:00 PM
From: Magnatizer	Respond to of 29382

amigos y amigas found this on APCO thread... To: Cary Crossman (1303 ) From: Brian Gilbertson Monday, Mar 2 1998 1:35PM EST Reply # of 1307 The Aegis Group, Inc. Enters Into Administration Agreement with Allstate Insurance Company ATLANTA, March 2 /PRNewswire/ -- Automobile Protection Corporation's (Nasdaq: APCO - news; APCO)subsidiary, The Aegis Group, Inc., announced today that it has entered into a three year administration agreement with Allstate Insurance Company (NYSE: ALL - news) for the administration of a mechanical breakdown insurance program to be offered and underwritten by Allstate Insurance Company. Martin J. Blank, President of The Aegis Group, Inc. stated: ''We are delighted that Allstate selected us to administer this new program which they will be marketing to existing Allstate policyholders and consumers through their agents and telemarketing capabilities. Allstate selected The Aegis Group for its industry leading systems and service. We have been administering warranty products on behalf of insurance companies since 1990 and have developed extensive expertise in the claims adjusting and payment process. We expect this agreement will add significant volume to our business over the next several years.'' Garry Ballek, Vice President and General Manager of Allstate Parts and Labor Plus, stated, ''Mechanical breakdown insurance is an important growth area for Allstate. After extensive due diligence, we selected The Aegis Group to become our partner in this program. We are very comfortable that The Aegis Group shares the same philosophy towards customer service as Allstate. We have spent the last year working closely with The Aegis Group on rolling out this program and have incorporated many of their suggestions, which have come from their many years of administering vehicle service contract programs. We plan to become the leader in this industry by utilizing the extensive marketing resources of Allstate, together with our household name recognition.'' ''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: To the extent that this news release discusses financial projections, information or expectations about our products or markets, or otherwise makes statements about the future, our statements are forward looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, the competitive nature of the industry in which some competitors have significantly greater financial resources and name recognition than the Company, the availability of insurance coverage at competitive rates and of insurance funds to make claim payments, the Company's dependence on independent sales representatives, dealers and a major automobile manufacturer, the cyclical nature of the automobile industry, and other risks detailed in the Company's Form 10-K that has been filed with the Securities & Exchange Commission in connection with its 1996 year. OLE David