WTECQ Westech Capital Corporation (GM)

Warrantech Corporation (OTC:WTEC), a leading independent provider of service contracts and after-market warranties appointed David J. Workman president of the company's consumer product services division, effective November 10. In addition to his leadership duties, Workman will be responsible for developing new distribution channels, expanding relationships with retailers, and increasing sales within Warrantech's customer base throughout the United States, Canada and Puerto Rico. "David Workman is an expert in retail," said Joel San Antonio, chairman and CEO of Warrantech Corporation. "Since joining Warrantech in July, Workman has already generated a significant amount of new interest and has designed some very innovative programs which have been well accepted in the market. David's in-depth knowledge of the consumer electronics business, coupled with an unparalleled number of industry contacts who are intimately familiar with retail acumen, makes us confident that Warrantech's consumer division will grow and prosper under his direction." "Sales of electronic products are accelerating at an unprecedented pace," said Workman. "Consumers want reliable products backed by stellar service. Retailers strive to exceed these expectations, and maintain profits. With Warrantech, each group wins. Consumers have access to warranties that guarantee reliable service on product purchases, and retailers get return business from satisfied customers, while generating additional income. Once retailers understand this powerful dynamic, I'm confident the growth in the consumer products services division will progress." David Workman, 49, is a recognized leader in consumer electronics with more than 27 years of sales and executive management experience. Prior to his promotion, Workman was senior vice president in charge of consumer products marketing. Prior to joining Warrantech, Workman was president and CEO of Ultimate Electronics. Dave also was part owner in a company called Dakota Sight and Sound. In addition to his work at Warrantech, he acts as a sector consultant for consumer electronics for Gerson Lehrman, an advisory council located in New York. Dave attended Black Hills State College in South Dakota. 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.