Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (17077)	5/18/1998 8:50:00 AM
From: Doug R	Respond to of 79270

...and this just in: Interstate National Dealer Services, Inc. Introduces Franchised Auto Dealers Service Contract Program MITCHEL FIELD, N.Y.--(BUSINESS WIRE)--May 18, 1998-- -Cumulative New Sales Of Over $13 Million Anticipated During Next Three Fiscal Years- Interstate National Dealer Services, Inc. (NASDAQ NNM: ISTN) today announced the release of a new Automobile service contract program called Interstate Auto. This latest service contract offering, designed primarily for franchised dealers, is insured by member companies of the Orion Insurance Group, one of the fifty (50) largest property and casualty insurers in the United States. The Interstate program offers four levels of coverage from powertrain to bumper-to-bumper as well as a state-of-the-art used vehicle certification program which will enhance dealer profits substantially. Offered initially by selected agents in thirty (30) states, the Interstate Auto program will expand and be marketed nationally by years end, joining Interstate's Secure Value Program insured by Travelers and the Star Auto, RV and Sport programs insured by National Service Contract Insurance Company RRG, Interstate's captive insurance subsidiary. It is anticipated that this new program will be well accepted and create new revenues of $2.1 million, $4.3 million and $6.6 million during the fiscal years 1999, 2000 and 2001, respectively. Interstate is a leading nationwide provider of service contracts and extended warranties, primarily for new and used cars and recreational vehicles, and also for watercraft, motorcycles and other power sport vehicles. -0- This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Report on Form 8-K filed with the Securities and Exchange Commission on December 23, 1996. CONTACT: Chester J. Luby, CEO Cindy H. Luby, President & COO INTERSTATE NATIONAL DEALER SERVICES, INC. (516) 228-8600; (516) 222-1818 (Fax) or Stephen D. Axelrod, CFA Susan T. Bolen (Media) WOLFE AXELROD ASSOCIATES (212) 370-4500; (212) 370-4505 (Fax) e-mail: steve@wolfeaxelrod.com