Exhibit 99.1
Joint Press Release, dated June 5, 2000 issued by eAutoclaims, Inc. and
Transformation Processing, Inc.
eAutoclaims.com(TM) and Transformation Processing Inc. Closes Merger Agreement
June 5, 2000 05:00 AM Eastern Time
PALM HARBOR, Fla., June 5 /PRNewswire/ -- eAutoclaims.com(TM) and Transformation
Processing Inc. EACC today announced the closure of its merger agreement. The
new company will operate under the name of eAutoclaims.com and has received the
new symbol, EACC and will trade on the OTCBB exchange. The Company will be
headquartered in Palm Harbor, Florida.
eAutoclaims.com(TM) Inc. is a pioneering business-to-business e-commerce company
that utilizes the Internet to streamline and lower the overall cost of
automotive repair paid by insurance companies. The Company is creating a new
online digital automotive maintenance organization industry within the $60
billion market segment of the non-standard auto collision repair.
eAutoclaims.com(TM) Inc. is establishing itself as the pre-eminent Application
Service Provider for the automobile insurance industry, providing seamless
back-end infrastructures that thousands of collision repair shops and/or support
facilities into a network. The Company offers a cost effective and highly
advanced 'Bricks to Clicks(C)' solution for the processing and ultimate repair
of damaged vehicles filed as insured auto claims. eAutoclaims.com(TM) Inc.
generates revenue from administrative fees and discounts earned by processing
collision work through its system for insurance companies.
This press release contains forward looking statements regarding the Company's
business strategy and future plans of operation. Forward looking statements
involve known and unknown risks and uncertainties. These and other important
factors, including those mentioned in various filings with the Securities and
Exchange Commission made periodically by the Company (available to the public at
www.sec.gov), may cause the actual results and performance to differ materially
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from the future results expressed in or implied by such forward looking
statements. The forward looking statements contained in this press release speak
only as of the date hereof and the Company disclaims any obligation to provide
public updates, revisions or amendments to any forward looking statements made
herein to reflect changes in the Company's expectations or future events.
For Further Information: Joe Krupa, eAutoclaims.com Phone: 416-214-0707 Email:
[email protected] John Liviakis, Livaikis Financial Communications, Inc
415-389-4670 / 415-389-4694 fax / [email protected] Email
SOURCE eAutoclaims.com Inc.
