Warrantech President of Domestic Operations to Step Down

    BEDFORD, Texas--June 5, 2003--Warrantech Corporation (OTC:WTEC), a leading independent provider of service contracts and after-market warranties, announced today that Ron Glime, president of Warrantech's domestic operations, will step down from that position effective June 30, 2003, for personal reasons. Mr. Glime will remain a member of Warrantech's board of directors.
    The company's three domestic units, Warrantech Automotive, Warrantech Consumer Product Services and Warrantech Direct will now report directly to Joel San Antonio, chairman and chief Executive officer of Warrantech.
    Mr. San Antonio made the following statement: "We are deeply grateful for the many contributions Ron has made to Warrantech's development. Joining the company in 1991, Ron transformed Warrantech Automotive into an organization that stands as a model in the industry today. Building on this success, Ron then assumed responsibility for all of Warrantech's domestic operations."
    "With strong leadership, courage and an unwavering commitment to Warrantech, Ron helped mold the company into a stronger, leaner and more productive organization. I am pleased that Ron will continue to serve as a valuable member of our board of directors, helping foster Warrantech's future growth and prosperity with his wisdom, experience and sound business judgment."

    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.