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TORONTO -- RS GROUP OF COMPANIES, INC. (formerly RENT SHIELD CORP.) (OTCBB:RSGC), a provider of pass-through risk specialty insurance and reinsurance products, announced today that its wholly owned subsidiary, Shield Financial Services, has signed an agreement to act as broker for Strategy Insurance Limited`s Lux Residential Warranty Program.
The Lux Residential Warranty Program, distributed by Lux Development Group Ltd., is a home warranty program offered by builders to new home buyers. Specifically created to address the concerns of builders with respect to the marketability of their development, the Lux Residential Warranty Program is offered by builders to new home buyers, further enhancing their product by protecting the purchaser.
The program will be launched first in Atlantic Canada followed shortly thereafter by strategic launches in selected cities in the United States and Canada.
This program is designed to protect both the purchase price and the structural components of new-built homes. The program also guarantees that the registered builder will complete any necessary work up to a maximum value for materials and workmanship. It provides a comprehensive plan to protect new home buyers from the vagaries of the real estate market.
"The residential warranty program represents a strategic fit for the Shield Financial business model." said John Hamilton, CEO of RS Group of Companies, Inc. "We at RS Group of Companies are truly excited by the opportunity to strengthen Shield`s portfolio through this program."
RS Group of Companies` core product, the RentShield(TM) Residential Rental Guarantee Program, (http://www.rentshieldexpress.com):
- Guarantees, without question, to automatically pay the landlord up to six months of rental income in the event of tenant default within 30 days of the due date.
- Pays the landlord up to $10,000 for willful damage by a tenant.
- Eliminates the landlord`s legal eviction and administrative collection expenses.
- Pre-qualifies a prospective tenant through background and credit verification within 48 hours of their application.
- Eliminates the need for landlords requiring up-front payment of security deposit and last month`s rent.
- Provides property owners the online tools that help administrate residential rental properties and access other RSGC products and services.
- Provides landlords and tenants online access to listings of vacant properties.
About RS Group of Companies, Inc.
RS Group of Companies, Inc. (http://www.rsgc.com) has developed and is implementing a strategy to design, structure and sell a broad series of pass-through risk specialty insurance and reinsurance platforms throughout North America. In November 2003, through its wholly owned subsidiaries, the company introduced its core pass-through risk solution, RentShield(TM) (http://www.rentshieldexpress.com), a Residential Rental Guarantee Program being offered to North America`s $300 billion residential real estate rental market. It is estimated that there are over 38 million rental units in the United States and Canada. Rental Guarantee was first developed in Finland to provide surety to residential property developers and is being used as an extremely effective marketing tool in the United Kingdom for the buy-to-let market. It protects investments in the rental units by receiving a guaranteed income on a certain timeline.
Forward-Looking Statement
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward Looking Statements may be identified by words including "anticipate", "await", envision", "foresee", "aim at", "believe", "intends", estimates" including without limitation, those relating to the Company`s future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward Looking Statements. Readers are directed to the Company`s filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the Company`s business and results of operations.
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