NEWS RELEASE

MIDDLETOWN, NY (September 12, 2003) -- VAC Service Corp., the nation's leading service company, has shifted responsibility for Canadian sales to Buz Nachlas, Senior Vice President, Sales, and has given responsibility for its Teleservices Division operations to Charles Romano, Senior Vice President-Marketing, it was announced by Jim Tucker, President & Chief Executive Officer.

"These management changes reflect the growing size and importance of both our Canadian sales, and our Teleservices Division, which today employs hundreds of our staff and demands more attention and planning from senior management," Tucker said.

Nachlas joined VAC almost two years ago as Vice President of Sales (U.S.) following more than 20 years in sales and management. Prior to joining VAC in 2002, he had been with General Electric, where Nachlas was National Sales and Product Manager, Consumer Home Services Division. Last winter, VAC promoted Nachlas to Senior Vice President, Sales. With his new responsibilities, VAC's North American sales are unified under his direction.

Romano is in his third decade with VAC, and over that time has been promoted to successively more important sales and marketing responsibilities. His new responsibilities unify VAC's U.S. and Canadian teleservices operations under his overall direction. Romano continues to serve as President of Technical Satellite Repair, Inc., one of the nation's leading state-of-the-art satellite repair and refurbishing centers, a position he has held since VAC launched the fast-growing subsidiary in 2001.

VAC Service administers warranty and extended service programs for a wide variety of products, including consumer and office electronics, electric housewares, major appliances, lawn and garden equipment, power tools, exercise and fitness equipment, bicycles, cameras, watches and jewelry, and now automobile tires, and more. VAC is also deeply involved in digital satellite system installation and service, software support, PC installation, and a wide variety of teleservices.

VAC Service Corp. is headquartered at 99 Tower Drive, P.O. Box 730, Middletown, NY 10940-0730. Telephone is toll-free 1-800-431-5843. Fax is (914) 692-3620. Visit VAC Service Corp.'s web site at www.vacservice.com. In addition to its executive offices and teleservices center in Middletown, VAC maintains regional offices on Long Island, NY, Las Vegas, NV, Denver, CO, Cincinnati, OH, Chicago, IL, and Orlando, FL.

A subsidiary, VAC Service Corp. of Canada, Ltd.(www.vacservice.ca), maintains regional sales offices in Toronto, ON, Montreal, QUE, and Vancouver, BC, as well as a full-service (sales, administration, and teleservices) office in Ottawa, delivering an uninterrupted service program 24 hours a day, seven days a week, 365 days a year.