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 BALA CYNWYD, Pa., Sept. 20 /PRNewswire/ -- Bachow & Associates today announced the agreement to purchase 200,000 shares of newly issued Series B Convertible Preferred Stock in DataMap, Inc. (OTC: DTMP) for $3 million.
 Each share of preferred stock is convertible at the option of Bachow into 10 shares of common stock. Upon conversion, Bachow's 2 million shares of common stock would equal 21 percent of the outstanding stock of DataMap. In addition, Bachow received an option to purchase up to 375,000 shares of common stock at prices ranging from $3 to $4.20 per share. Steve Fisher, a Bachow managing director, will sit on DataMap's board of directors, and Bachow will provide strategic, operating and management consulting services to DataMap.
 DataMap is a leading company in the Geographic Information Services (GIS) industry, providing products and services to the insurance, banking and other industries. DataMap said it anticipates using the proceeds from this transaction to qualify for listing on NASDAQ, to complete the development of several new product lines and expand the services offered to related areas. Its user-friendly proprietary software and data-bases provide an array of information with a previously unachievable ability to locate or match an address anywhere in the United States.
 In October 1992, DataMap entered into an exclusive 15-year strategic partnership with the Insurance Services Office, New York (ISO), to provide productivity enhancing GIS software and data-bases to ISO's 1,500 participating companies. ISO's members issue 80 percent of all property and casualty insurance underwritten in the United States. The Geographic Underwriting System (GUS(R)) (which has been developed by DataMap and ISO), available nationwide by the end of September, offers a comprehensive database of geographically based information to insurers. Currently, 35 major insurance companies, representing 34 percent of the auto insurance market, 34 percent of the personal property and casualty market and 27 percent of the commercial property and casualty market have entered into agreements to use GUS services. GUS services enable insurance underwriters to access numerous risk variables relating to the location of any specific property or address, including fire protection, wind conditions, crime statistics, brush fire, commuting distances and other risks. GUS services allow underwriters to evaluate the risks associated with a potential policy more accurately and more cost effectively. ISO is currently marketing these GUS products, and DataMap and ISO are working to expand the scope of GUS hazard information to meet the needs of its property and casualty insurer members. "No other company can match the quality, comprehensiveness and unique data being provided by this joint venture," according to Gary Mertz, president and CEO, DataMap, Inc.
 DataMap also has an exclusive agreement with Banking Systems Inc. (BSI) to provide BSI's nationwide banking and financial institution client base with its geo-coding, demographic and related services. BSI anticipates that DataMap's services will be critical in enabling banks to comply with the Community Reinvestment Act (CRA). CRA requires banks to annually demonstrate a requisite correlation between their lending practices and areas which constitute their base of depositors. DataMap and BSI are also contemplating other products and services which could be marketed by BSI to their client base, which represents more than 75 percent of all banks in the United States.
 Although DataMap's proprietary GIS products and services have application in many industries, the company has targeted insurance, banking and retail industries for its primary focus. "The many potential applications within these industries will provide numerous product and service opportunities in future years," said Mertz.
 Bachow & Associates provides expansion capital to companies in growing industries. Its equity investments enable companies to maximize their potential by allowing them to provide the requisite resources to fully implement their strategic plan. In addition to capital, Bachow adds value by participating on a portfolio company's board of directors and by augmenting a portfolio company's management with Bachow's team of highly trained operational professionals. "Companies truly value the operational, strategic and management services we provide after investing capital from our equity funds," said Paul S. Bachow, president of Bachow & Associates.
 Bachow & Associates invests in and grows communications related, productivity enhancement (such as DataMap) and certain other high growth businesses. Existing management and Bachow's seasoned financial and operational executives work together as a team to develop and execute winning strategies. Bachow typically commits a minimum of $3 million per transaction in equity and completes four to six transactions per year.
 -0- 9/20/93
 /CONTACT: Paul S. Bachow, president, of Bachow & Associates, 215-660-4900/

CO: Bachow & Associates, Inc.; DataMap, Inc. ST: Pennsylvania IN: FIN CPR SU:

CC-MK -- PH015 -- 3645 09/20/93 11:50 EDT
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Publication:PR Newswire
Date:Sep 20, 1993

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