Press Releases

The agreement comes just three months after Pivot (www.pivot.com), a subsidiary of Wachovia Corporation, entered into a strategic alliance with Info-One (www.info-one.com), to integrate it’s pre-sales marketing product (InfoSource) with Pivot’s electronic annuities order entry system.

“The market has created opportunities for companies like Info-One and Pivot to help foster change in the way we do business,” said David deGorter, President of the Wachovia Insurance Group. “We look forward to combining Info-One’s superior products and services with those of Pivot to enhance the depth of our product and service lines.”

Lou Hensley, Co-President of Pivot, which has processed in excess of $10 billion of annuity business and brings robust processing and fulfillment services to the combined organization, said, “This is a wonderful union between two companies who have independently become leaders in their own respective space. Once our businesses are combined, our clients and prospective clients will start to enjoy the cost savings that are generated by linking Info-One and its front-end sales tools with Pivot’s back-end processing and fulfillment.”

According to David Shapiro, Chairman & CEO of Info-One, “the industry has been waiting, and in many respects has been asking for one provider to link these services together, and Info-One and Pivot are the first to provide this end-to-end solution. As technology continues to drive change in the financial services industry, our ability to offer content, research, processing and service capabilities from one platform is certainly exciting news for the market.”

The combined businesses will drive value to its customers through Info-One’s InfoSource product currently used by over 110 broker dealers, and the VARDS® services currently used by over 70 insurance companies. The Pivot trade and service capabilities have already been bundled into InfoSource and are now being offered to the market as a single solution.

About Info-One

Info-One provides the financial services industry with solutions that help contain costs and increase sales. Info-One is an information leader with tools like The VARDS® Report, VTR® Plus, and its web based sales research and support system InfoSource(tm) that allows financial advisors the ability to search, illustrate, trade and service products on-line. For more information about Info-One's products and services, please contact Naomi Holland by email at nholland@info-one.com, or phone 408-558-7070, Ext 230, or visit www.info-one.com http://www.info-one.com.

About Pivot

Pivot, with headquarters in Columbus, OH, is an insurance distribution technology platform provider offering products and connectivity with more than 50 leading insurance carriers. Pivot also provides fulfillment services through its multi-site call centers with nationally licensed representatives offering all major personal line products through its agency, Professional Direct Agency Inc. Client solutions include website private labeling, insurance carrier fulfillment services, conservation/customer retention services, and platform order-entry technology for annuity, life and long-term care products. Pivot offers consumer insurance products through partnerships and alliances with insurance companies, financial institutions, affinity groups and traditional agencies.

For more information about Pivot’s products and services, please contact David Koterba by e-mail at dkoterba@pivot.com, or phone at 614-825-5856, or visit www.pivot.com.

About Wachovia

Wachovia Corporation, created through the September 1, 2001 merger of First Union and Wachovia with assets of $326 billion as of September 30, is a leading provider of financial services to 19 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 states and global services through more than 30 international offices.