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Press Press Releases 2003 Pethealth Inc. announces exclusive agreement with Progeny Marketing Innovations OAKVILLE, ON, January 10, 2003. Pethealth Inc. (TSX Venture Exchange Tier 1: PTZ) announced today that it has formed a strategic partnership with Progeny Marketing Innovations, one of the largest direct marketing companies in the United States. Progeny provides turnkey strategies and revenue-generating products and services to more than 6,500 financial institutions across the U.S. The company is a division of Cendant Corporation. Progeny provides services to 70 percent of the nation's largest banks, touching 180-million American consumers or 63 percent of the U.S. population each year. Approximately 40-million Americans are insured through Progeny insurance products and services. Under the agreement, terms of which were not disclosed, Pethealth's pet insurance programs will be exclusively test marketed by sponsoring financial institutions to their customer base via stand-alone direct mail. The direct mail packages will be customized with the branding of the individual financial institutions - providing affinity relationships between Pethealth pet insurance programs and Progeny's customers. The testing program is expected to begin in Q1 2003. The strategic alliance with Progeny represents another milestone in Pethealth's plan to create the largest distribution network for pet insurance in North America and is the latest in a series of partnership agreements for Pethealth, currently the number two provider of pet insurance in North America. In Q4 2002 Pethealth announced a strategic alliance with the Association Group Insurance Administrators (AGIA), to market its insurance products to more than 2-million members of Affinity Group, Inc. (AGI) clubs. Pethealth also recently became the exclusive indemnity pet insurance provider to members of unions that belong to the AFL-CIO through its partnership with Union Privilege using the Union Plus pet insurance name. Since 2000, Pethealth has formed strategic partnerships with Petfinder.com, North America's largest online adoption agency for dogs and cats; and with Petco Animal Supplies Inc., a leading US pet specialty retailer, to become the chain's exclusive provider of pet insurance. Additionally in Canada, strategic alliances were forged with Transcontinental Media Inc., promoting PetCare pet insurance programs to Transcontinental subscribers through the Canadian Living brand name; to London Drugs Limited, which promotes PetCare insurance under the betterpethealth name; and to the Canadian Petcetera Limited Partnership. Each partnership promotes the PetCare pet insurance exclusively to its respective customer base. "I am delighted to be able to announce our partnership with Progeny," said Mark Warren, President & CEO of Pethealth. "It represents a substantial step towards achieving Pethealth's objective of becoming the dominant player in the North American pet insurance market through the establishment of broad based distribution channels leveraging well-recognised and well-liked brand names." "We are indeed excited about our relationship with Pethealth," said Dan Tarantin, President and CEO of Progeny. "This test marketing agreement reflects our continuing commitment to deliver fresh, cutting-edge insurance products to our financial institution clients across America, and will further enhance our efforts to advance unique services to a constantly changing marketplace." About Progeny Marketing Innovations Based in Franklin, Tenn., Progeny Marketing Innovations provides turnkey marketing strategies, as well as revenue-generating products and services that enhance client relationships. Major clients include more than 6,500 banks, credit unions and mortgage companies across the country. Progeny is a subsidiary of Cendant Corporation, a global leader in travel and residential real estate services. With approximately 70,000 employees, New York City-based Cendant provides these services to business and consumers in over 100 countries. More information can be found about Progeny by visiting the company's web site http://www.progenymarketing.com. About Pethealth Services Inc. Founded in February 1998, Pethealth is Canada's number one provider of pet insurance and is number two in the United States, currently offering its PetCare pet insurance programs in 9 provinces, 43 states and Washington, D.C. Pethealth offers its pet insurance programs under a variety of names, including QuickCare, the PetCare Pet Insurance Programs, Union Plus Pet Insurance, and betterpethealth. In the United States, the PetCare Pet Insurance Programs are underwritten by Lincoln General Insurance Company, York, PA, through Avalon Risk Management Inc. In Canada, the company's pet insurance is offered to owners of dogs and cats through its wholly owned subsidiary, PetCare Insurance Brokers Ltd. ING Insurance Company of Canada, a member of the ING Group, and Kingsway General Insurance Company underwrite PetCare products in Canada. The PetCare programs also carry the exclusive endorsements of a number of industry leaders, including veterinary medical associations representing approximately four out of five practicing veterinarians in Canada. In addition, Pethealth, through its wholly owned subsidiary Pethealth Services Inc., sells and distributes Allflex pet microchip supplies to the companion animal market in North America and operates the related pet recovery registry under the trade name 24PetWatch. Pethealth is based in Oakville, Ontario. Institutional investors include Dynamic Mutual Funds, through its Dynamic Venture Opportunities Fund. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Not for dissemination in the United States of America or to United States news wire services. For further information contact: |
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