PHOENIX, July 18, 2005 (PRIMEZONE) -- Home Warranty Services of America, Inc. (Pink Sheets:HWSV), a Nevada Corporation, is capitalizing on its exclusive relationship with a national mortgage partner to sell home warranties. Our mortgage partner provides an exclusive sales channel locally, representing over 2,000 transaction sides per month in the greater Phoenix area. This exclusive offering will enable HSA to meet its sales projections for the coming years.
HSA is in discussions with owners of related service companies, following its strategy for non-organic growth through acquisitions of like service companies. HSA will continue to realize strong growth as these relationships mature and our market share grows.
With real estate data showing 28 percent growth from 2003 to 2004 for resale home closings, HSA and it's partners are poised to service a high volume of warranty customers.
The nation's top three home warranty providers are all reporting double-digit increases in their business from 2003 to 2004. The trend for 2005 is already showing upward movement from 2004 revenues. The greater Phoenix area represents approximately 35 to 40 million dollars in home warranty sales revenue annually. The current market penetration is less than 20 percent of the available home warranty sales.
Using our Phoenix-based operations as a blueprint, HSA will expand into Colorado, New Mexico, Texas, Florida, and California where our licensing model is already permitted.
Visit Hernandez at: www.hernandezcompanies.com and Home Warranty Services of America at www.homeservicesofamerica.com.
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Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors effecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.