News Room

November 10, 2003

Basis100 Partners with Assurant Group

Producing the first warranty created exclusively for automated valuation models

Toronto, ON: Basis100 (TSX: BAS), a business solutions provider for the mortgage lending marketplace, today announced that it has partnered with Assurant Group, a leading provider of specialty insurance to the financial services marketplace, to produce the industry’s first warranty created exclusively for automated valuation models (AVMs). Assurant will supply the contractual liability insurance policy to back Basis100’s PowerBASESM ProW (Protective Warranty).

The Basis100 warranted AVM adds a new layer of surety to the value calculated by the AVM, thereby enabling lenders to more effectively mitigate risk. For borrowers, PowerBASE ProW greatly reduces the closing costs associated with a loan by offering an alternative to costly traditional collateral assessment products.

"Industry leaders demand products and services that simplify the mortgage lending process, increase accuracy and reduce risk," stated Joseph J. Murin, president and chief executive officer of Basis100. "We understand the needs of this marketplace, and are committed to building and delivering innovative solutions that not only venture outside the normal realm of collateral assessment services but provide our customers with superior results."

The creation of PowerBASE ProW enables lenders, for the first time, to offer instantaneous collateral decisions that have vast appeal to the investor community. The quality of Basis100 AVMs coupled with the reputation and financial backing of Assurant, provides lenders with the confidence to offer PowerBASE ProW as an extended credit enhancement tool.

About Basis100 Inc.

Basis100 (TSX:BAS) is a business solutions provider to the mortgage lending community. Through its successful strategic partnerships with other industry leaders and advancements in its proprietary technology, Basis100 offers a vast array of collateral assessment solutions from automated valuation models to full appraisals to aid customers in their lending decisions. The company’s BasisValuesSM system is a dynamic web-based delivery platform that incorporates ordering and delivery of Basis100’s complete decisioning suite of collateral assessment solutions. BasisValues, with the addition of upgradeable solutions, allows for: customized business rule logic, risk mitigation, consistency of process and selection and bulk processing requests.

For more information about Basis100, visit www.Basis100.com.

About Assurant Group

Assurant Group provides specialty risk management products and services to consumers through partnerships with leading financial institutions, auto and manufactured home dealers and retailers. These products include specialty property insurance, debt protection programs, extended service contracts and certain membership programs.

Headquartered in Atlanta and Miami, Assurant does business throughout North America, Latin America and Europe. The company has more than 6,000 employees and operations in 11 states in the United States, Canada, Argentina, Brazil, Denmark, Ireland, Puerto Rico and the United Kingdom. Assurant is part of Fortis, and international financial services provider active in the fields of insurance, banking and investment.

Forward-looking (safe harbour) statement: Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "plans," "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Media Contacts

Basis100 Media Relations
Shanon Murin
Product Marketing Director
412.922.9181
E-mail: smurin@Basis100.com
Basis100 Investor Relations 

Edward J. Hartman
Chief Financial Officer
866.347.8479
E-mail: investor.relations@Basis100.com

Sandy Koeppl
Communications Director
866.347.8479
E-mail: investor.relations@Basis100.com

James A. Sykes
Director, Corporate Communications
Assurant Solutions
260 Interstate N. Circle, SE
Atlanta, Ga. 30339-2111
Telephone: 770.763.1015
FAX: 770.859.4325
E-mail: james.sykes@assurant.com