eAutoclaims Announces Restructuring of Outstanding Convertible Preferred Stock OLDSMAR, Fla., Nov. 18 /PRNewswire-FirstCall/ -- eAutoclaims (BULLETIN BOARD: EACC) announced the restructuring of their outstanding convertible preferred stock with Governors Road LLC. The new agreement changes the formula used to compute the conversion of eAutoclaims' preferred shares to common shares. The agreement also establishes a minimum conversion price, which was not part of the original agreement and creates a maximum number of common shares that are allowed to be issued upon conversion of the preferred shares. The new agreement enables the company to liquidate the preferred shares over a 20- to 30-month period by purchasing a small number of preferred share units each month. Should the company choose not to act on its rights to purchase the units, the company can arrange block trades of a predetermined number of converted common shares before the holder is permitted to sell those shares. If the company exercises either of these options, the agreement requires the holder to remain in a lock-up position and forbids the selling of any additional shares. "This new agreement allows us to minimize the effects of newly issued common shares hitting the open market from our remaining outstanding preferred shares," said Eric Seidel, President/CEO. "The revised terms help protect the market value of our stock. It also makes future equity deals more attractive." About eAutoclaims eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC) is a business services company that provides the insurance industry with claims management services through both ASP and integrated outsourcing solutions. The Company's clients are insurance companies, fleet management companies and insurance services companies. eAutoclaims' solutions streamline the claims handling process, decreasing the overall time and cost required to process a collision claim and reducing average paid losses for its clients. The Company handles repair estimates, repair audits, and claims systems administration services, for automobile claims that are processed and tracked via the eAutoclaims Web-based platform and network of service providers. This announcement contains "forward-looking statements." Words such as "anticipate", "believe", "estimate", "expect" and other similar expressions as they relate to the Company and its management are intended to identify such forward-looking statements. Although the Company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein are included with those mentioned in the Company's filings with the Securities and Exchange Commission. DATASOURCE: eAutoclaims, Inc. CONTACT: Jeff Dickson, Chairman of eAutoclaims, +1-813-749-1020, Ext. 202, or email,

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