Ferrari Selects TitleGuard to Provide Insured Title Histories for All Certified Pre-Owned Vehicles

—Ferrari Certified Customers Receive $100,000 Protection Against Vehicle’s Hidden Past—


September 8, 2003, SAN DIEGO

Vehicle Title LLC announced that its flagship product, TitleGuard Vehicle Title Insurance, has been selected to provide insured vehicle title history information for all certified pre-owned Ferraris sold in the United States and Canada.  In addition to a rigorous 101-point inspection, 12-month service contract and 12 months of roadside assistance, each Ferrari certified owner will get TitleGuard’s insurance against unreported DMV brands, title defects and evidence of odometer rollback for up to $100,000.

“We are honored and pleased to be part of Ferrari’s Certified Pre-Owned Vehicle program,” said Tom Rubadue, president of Vehicle Title LLC, sole provider of TitleGuard Vehicle Title Insurance.  “Ferrari is known for producing the world’s most exciting sports cars.  Now, with the launch of this new certification program, they will also be known for creating the world’s most comprehensive vehicle certification program.”

The Ferrari Certified Pre-Owned Vehicle program is designed to protect Ferrari owners from the uncertainties of life so that they can fully enjoy the pleasures of owning one of the world’s finest automobiles.

Ferrari selected TitleGuard to provide their certified owners with the most accurate and reliable information on their vehicles’ pasts.  To accomplish this, TitleGuard first scans the largest relational automotive database in the world to document and confirm that each Certified Ferrari has a clean title history.  TitleGuard then insures the accuracy of each certified vehicle’s title history against hidden DMV brands, title defects, and evidence of odometer rollback for up to $100,000.

“Creating consumer peace of mind was our primary goal as we developed our certified product, and we’ve succeeded,” said Maurizio Parlato, president and chief executive officer of Ferrari North America– Ferrari. “We are so confident in the quality of our certified vehicles that we protect our customers against the unforeseen future and insure them against the hidden past.  No other certified program offers this level of protection.”

According to PRIMEDIA’s IntelliChoice, one of the nation’s most respected automotive information providers and the publisher of an annual certified pre-owned vehicle program ranking, a vehicle’s title history is an increasingly important feature in certified programs.  “We continue to see manufacturers improve their certified pre-owned programs and raise the standards for excellence,” said Dave Wurster, publisher of IntelliChoice.  “This announcement highlights an industry-wide trend towards providing consumers with the most beneficial certified programs, including protection against the ownership risks associated with a used vehicle purchase.”

The Ferrari Certified Pre-Owned Vehicle program was launched on Aug. 1, 2003.  For more information about TitleGuard Vehicle Title Insurance, please call (866) 819-3100 or visit www.AutoTitleGuard.com.  

About Vehicle Title LLC

Vehicle Title LLC is a joint venture between The First American Corporation (NYSE:FAF), a Fortune 500 company and innovative leader in the title insurance industry that traces its history to 1889, and Experian Automotive, the automotive industry’s premier information and vehicle history data supplier.  By combining the strengths and expertise of these two companies, Vehicle Title LLC maximizes its efficiencies to deliver TitleGuard Vehicle Title Insurance to the used car buying and selling public. TitleGuard Vehicle Title Insurance, underwritten by the First American Family of Companies, is the first and only product that insures used car buyers, sellers and lenders against the actual losses that can result from unreported DMV title defects for up to 100 percent of the vehicle’s fair market retail value. For more information on The First American Corporation, Experian Automotive, or TitleGuard, please visit www.firstam.comwww.automotive.experian.com  or www.AutoTitleGuard.com  respectively.

About Ferrari North America

Ferrari North America is responsible for the organization and operating requirements for the Ferrari brand in the United States and Canada, including the technical training and spare parts service. North America is the most important market for Ferrari, representing approximately 30 percent of the brand’s worldwide sales.  

Ferrari North America, Inc. is located in Englewood Cliffs, N.J. Established in 1990, Ferrari North America imports and distributes Ferrari automobiles to 31 authorized dealerships throughout the United States and Canada—29 in the United States and two in Canada.  Ferrari North America is also the importer and distributor of Maserati vehicles in North America.

About PRIMEDIA's IntelliChoice 

Founded in 1986, PRIMEDIA's IntelliChoice is the first and leading company that develops and distributes consumer automobile ownership data, ratings of vehicles based on their consumer value, leasing cost data and Certified Pre-Owned Program analysis. More information can be found on the IntelliChoice Web site, www.intellichoice.com.   

About PRIMEDIA

PRIMEDIA is the leading targeted media company in the United States, with positions in consumer and business-to-business markets. Our properties deliver content via print as well as video, the Internet and live events and offer highly effective advertising and marketing solutions in some of the most sought after niche markets. With 2002 sales from continuing businesses of $1.5 billion, PRIMEDIA is the number one special interest magazine publisher in the U.S. with more than 250 titles. PRIMEDIA’s well known brands include Motor Trend, Automobile, New York, Fly Fisherman, Power & Motoryacht, Creating Keepsakes, Ward’ Auto World and Registered Rep. The company is also the number one publisher and distributor of free consumer guides, including Apartment Guides. PRIMEDIA Television’s leading brand is the Channel One Network and About is one of the largest sources of original content on the Internet.  PRIMEDIA’s stock symbol is: NYSE: PRM.

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