April 9, 2002

InSure Vision Technologies Announces Integration with Bid Express to Facilitate Electronic Bid Processing for Surety Bonds

Sherman Oaks, CA -- InSure Vision Technologies (IVT) recently announced that they have entered into a multi-year contract with BidX.com, the premier web-based bidding information service, to provide integrated reporting of electronic bids to select state departments of transportation. BidX.com, an Info Tech, Inc. company, supplies the Bid Express service, which integrates with ExpediteTM , an application for bid preparation from the American Association of State Highway Transportation Officials. IVT, provider of The SurePath Network, the number one web-based surety bond processing system with over 100 licensed sites, will integrate their product with Bid Express to support the exchange of electronic surety bid bond information.

The bid bond is provided to obligees, such as the state DOTs, at the time of a bid opening, to guarantee the contractor’s bid. Offering this service electronically is advantageous to all parties, including the obligees, contractors, agents, and carriers, who participate in the bid bond process. The electronic reporting and bidding process provides significant benefits by reducing the time and expense required to attend bid lettings and bid submissions in person. It also greatly reduces the amount of data entry and paperwork required to process bid bonds.

“We are very excited at this opportunity to further expand The SurePath Network. We believe the SurePath Network will greatly benefit from integration with Bid Express. SurePath users will now be able to generate an electronic bid verification identifier which contractors can use to submit their bids electronically to the obligee via Bid Express. Users can create a bond and track all underwriting information without any duplicate data entry,” said Pam Stocks, President of InSure Vision Technologies.

SurePath can further automate the process by providing electronic filing capabilities of final bonds to obligees when a contract is awarded. SurePath can generate a printable version of a bond form, which can be digitally signed by agents and principals prior to submission to an obligee.

“We will expand our services to allow agents and their contractors to register online to utilize SurePath’s electronic bid submission features. The integration with Bid Express should be available during the second quarter of 2002,” said Beverly Hall, Chief Financial Officer of IVT.

About Bid Express
Bid Express™ is an online information service for highway construction bidding provided by BidX.com™, an Info Tech company. Bid Express is a two-way service: it publishes bid-related information from state transportation agencies to the contracting community and allows online, secure bid submission from the contracting community to the state transportation agency. For more information, visit their web site at http://www.bidx.com.

About InSure Vision Technologies
InSure Vision Technologies, LLC is the developer of the SurePath Network, a single entry, multi-use automated surety bond processing, tracking and reporting system which operates over the internet. IVT has extensive experience in the surety industry, insurance corporate finance and the development of insurance related systems. For more information visit our website at http://www.insurevision.com.

Contact: Beverly Hall
818.781.8733
bhall@insurevision.com

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