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Quotesmith.com Announces Shareholder Approval of Reverse Stock Split

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 3/5/2001


Quotesmith.com Announces Shareholder Approval of Reverse Stock Split

DARIEN, Ill., March 5 /PRNewswire/ -- Quotesmith.com, Inc.. (Nasdaq: QUOT) today announced the results of its special meeting of shareholders held on Monday, March 5, 2001 at the Company's corporate offices.

At the meeting, shareholders approved an amendment to the Company's Restated Certificate of Incorporation to effect a 3:1 reverse stock split of the Company's common stock. The Company's Board of Directors has adopted a resolution to implement the 3:1 reverse stock split, which will become effective as of March 7, 2001. A "D" will accompany the Company's ticker symbol for twenty consecutive trading days after the effective date.

About Quotesmith.com

Founded in 1984, Quotesmith.com owns and operates the industry's largest and most comprehensive insurance price comparison service. The Quotesmith.com Insurance Commerce Platform allows insurance shoppers to instantly view the best prices being offered by more than 300 leading companies, achieve maximum savings and have the freedom to buy from the company of their choice. Quotesmith.com also provides personalized customer service assistance and policy placement services for its customers. Quotesmith.com generates revenues from the receipt of commissions and fees paid by insurance companies. SOURCE Quotesmith.com

 

CONTACT: David Vickers, CFO of Quotesmith.com, 630-515-0170, ext. 210, or dvickers@quotesmith.com /

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