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Quotesmith.com and Western-Southern Life Announce Internet-Only Life Insurance Distribution Pact

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 2/23/2000


Quotesmith.com and Western-Southern Life Announce Internet-Only Life Insurance Distribution Pact

Leading Internet Insurance Information Infrastructure Company And
Leading A++ Rated Insurer Declare New Era of Insurance Distribution

DARIEN, Ill., Feb. 23 /PRNewswire/ -- Quotesmith.com, Inc. (Nasdaq: QUOT), the leading Internet insurance infrastructure company and only place on earth where you can get instant insurance quotes from more than 300 leading companies, announced today that it has been named by The Western and Southern Life Insurance Company, rated A++ for overall operating performance by A.M. Best, to distribute Western-Southern's new family of Internet-only term life insurance policies. Terms of this agreement were not disclosed.

The new Western-Southern eTerm life insurance products are now available at www.quotesmith.com effective immediately.

"We are excited to have been selected by Western-Southern to distribute their all-new, Internet-only family of individual term life insurance policies. With a proven customer-friendly technology and customer service infrastructure already in place, Quotesmith.com is an ideal platform for Western-Southern to participate in the insurance e-commerce revolution in a beneficial way. Western-Southern's stature as one of the nation's strongest and most highly-rated financial institutions adds yet further credence to the new and emerging insurance e-commerce channel," said Quotesmith.com founder and CEO, Robert Bland.

Mike Kryza, Western-Southern's vice president of electronic commerce, stated, "We are very pleased to be strategically aligned with Quotesmith.com. Their commitment to providing a comprehensive and informative online insurance experience sets up a win-win-win situation among the customer, Western-Southern and Quotesmith.com. We find the Quotesmith.com technology attractive because it combines a strong consumer information proposition with complete quote-to-policy accountability.

"Western-Southern wants to be the insurance provider of choice in the exponentially growing online market. We have been studying online consumer behavior and activity for almost three years. Our Internet offerings provide a unique combination of competitive pricing, one of the strongest financial institutions in the country and a deep understanding of the unique needs of the online consumer. Western-Southern eTerm complies with all new reserving requirements, is competitively priced and guarantees premiums for the entire length of the selected term period."

Kryza added, "In addition to providing incremental customer access, our partnership with Quotesmith.com is enabling a new business model for Western-Southern where convenience, trust and value are elevated to new levels."

About Quotesmith.com

Quotesmith.com owns and operates the largest and most comprehensive insurance price comparison service in America, allowing consumers to easily compare and purchase policies from more than 300 leading companies. Quotesmith.com boasts the industry's most unbiased and technologically advanced customer service capabilities, staffing its call centers with salaried, insurance-experienced representatives who can guide insurance shoppers from quote to policy delivery. The company provides instant, guaranteed accurate (backed by a $500 cash reward), company-authorized quotes for more than 300 top-rated insurance companies covering several lines of insurance including life, auto, individual, family and small-group medical, dental, small business workers' compensation, Medicare supplement, watercraft, boat, RV and annuities.

Quotesmith.com completed a $63 million initial public offering in August 1999. The company trades on the Nasdaq Exchange under the symbol QUOT.

About the Western-Southern Enterprise

The Western-Southern Enterprise is a family of financial services companies which provides life insurance, retirement planning and investment products and services. The Enterprise helps millions of consumers nationwide plan and protect their futures.

With roots dating back to 1888, the $20 billion organization combines unparalleled financial strength, investment results, diversified distribution, competitive products and a laser focus on outstanding customer service to provide a compelling value proposition to all stakeholders. The company is leveraging its strong field force with new call center and e-commerce initiatives to provide an integrated offering to consumers.

Of the nation's 1,700 life insurance companies, Western-Southern is among only 14 companies nationwide to earn the highest ratings from A.M. Best, Duff & Phelps and Standard & Poor's.

Forward Looking Statements

This announcement may contain forward-looking statements that involve risks, assumptions and uncertainties pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. This announcement may also contain forward-looking statements about events and circumstances that have not yet occurred and may not occur.

Expressions of future goals and similar expressions including, without limitation, "may," "will," "believes," "should," "could," "hope," "expects," "expected," "does not currently expect," "anticipates," "predicts," "potential" and "forecast," reflecting something other than historical fact, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements.

Investors should be aware that actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Reported Web site activity and/or quotes are not necessarily indicative of any present or future revenue.

The Company will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Potential risks and uncertainties include, among others, Quotesmith.com's limited e-commerce operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risks of system interruption, the evolving nature of its business model, the increasingly competitive online commerce environment, dependence on continuing growth of online commerce and risks associated with capacity constraints and the management of growth. More information about potential factors that could affect the company's financial results is included in the company's final prospectus dated August 3, 1999, as filed with the United States Securities and Exchange Commission.

This communication appears as a matter of information only and is not an insurance solicitation. Accordingly, no employee of Quotesmith.com, Inc. is recommending or endorsing any specific insurance company, coverage or policy type within this communication. Some insurance companies appear at Quotesmith.com for purely informational purposes only and pay no compensation to Quotesmith.com and some insurers pay commissions or fees to Quotesmith.com based upon premium volume or traffic activity produced by Quotesmith.com. Quotesmith.com is not an agent for all insurers shown at www.quotesmith.com. Quote availability by state of residence or any other factor is subject to change without notice.

Quotesmith.com is a service mark of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Published by South Dakota agent #333509159, California agent #0827712 and #OA13858, UT #90093. California and Utah dba Quotesmith.com Insurance Services. Quotesmith.com, Inc.

CONTACT: Mark Johnson of The Financial Relations Board, 312-640-6793, mjohnson@frb.bsmg.com, or Will Hemsworth of Quotesmith.com, 630-515-0170, ext. 213, whemsworth@quotesmith.com.

SOURCE Quotesmith.com, Inc.

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