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WARNER INSURANCE SERVICES ANNOUNCES SALE OF FINANCIAL DATA BASE BUSINESS

WARNER INSURANCE SERVICES ANNOUNCES SALE OF FINANCIAL DATA BASE BUSINESS
 FAIR LAWN, N.J., July 6 /PRNewswire/ -- Warner Insurance Services, Inc. (NYSE: WCP) today announced that it has sold its financial data base business, operated through its wholly-owned subsidiary, Warner Information Technologies, Inc., to Track Data Corporation, a financial data base provider headquartered in New York. Warner indicated that it has received cash and notes aggregating approximately $1.5 million, which is in excess of book value.
 Harvey Krieger, president and chairman of the board of directors of Warner, stated that "our financial data base business no longer fit within our strategic focus of servicing the auto insurance industry, and we are pleased to have sold it to an existing operator in the financial data base business." Krieger went on to say that "our business development programs are on target, and I am very optimistic about our ability to continue our improving earnings trend."
 Warner Insurance Services, Inc. provides policy administration, underwriting and claims services to automobile insurance companies.
 -0- 7/6/92
 /CONTACT: Bradley J. Hughes, vice president-finance and administration of Warner Insurance Services, 201-794-4817/
 (WCP) CO: Warner Insurance Services Inc. ST: New Jersey IN: SU: TNM


SH -- NY009 -- 6532 07/06/92 09:37 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
Words:207
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