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DATAMAP, INC. ANNOUNCES $500,000 IN EQUITY FINANCING

 MINNEAPOLIS, Nov. 23 ~PRNewswire~ -- DataMap, Inc. (OTC Bulletin Board: DTMP) announced today that it has raised $500,000 in equity financing through the exercise of an option for preferred stock by its CEO, James E. Hovis. Hovis acquired his option one year prior to joining DataMap. The transaction nets the company $340,000 in cash and $160,000 in debt reduction.
 The company recently announced the signing of a 15 year agreement with Insurance Services Office (ISO) to distribute DataMap's Geographic Underwriting System (GUS(R)) to its 1,500 participating insurance companies. ISO participating insurance companies write 80 percent of the property and casualty insurance in the United States. GUS services, offered through the ISO nationwide telecommunications network, provide underwriters with risk, hazard and classification information to quickly and effectively evaluate a property location. GUS services reduce the expenses and time associated with the underwriting process.
 GUS services are currently being offered by ISO to insurers that write business in Florida. In addition, ISO recently announced to its participating companies the plan to implement GUS services through out the remainder of the United States by April 1993.
 DataMap, Inc., based in Eden Prairie, Minn., specializes in digital geographic databases, mapping services, and application software. DataMap's common stock is traded over-the-counter in Minneapolis~St. Paul (OTC Bulletin Board: DTMP).
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 ~CONTACT: James E. Hovis, CEO, or Gary S. Mertz, president, both of DataMap, 612-934-0900; or Tom de Petra of de Petra & Associates, 612-338-7630, for DataMap~
 (DTMP)


CO: DataMap, Inc. ST: Minnesota IN: SU: FNC

AL -- MN008 -- 0521 11~23~92 12:10 EST
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Publication:PR Newswire
Date:Nov 23, 1992
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