SureTec Sells PCL Contract Bonding Agency

July 1, 2005

Houston-based SureTec Financial Corp. announced the sale of its subsidiary, PCL Contract Bonding Agency, located in Lewisville, Texas. The acquiring individuals include Clem Lesch, president of PCL, and a group of individuals associated with Independent Insurance Group Inc. of Dallas.

John Knox, Jr., chairman of SureTec, announced, “PCL and its principals, Clem and Pauline Lesch, have been, and will continue to be, major bond producers for SureTec. This transaction allows us to continue to focus on our core business as underwriters and provides PCL with additional market opportunities. It is truly a ‘win-win’ situation for all involved.”

PCL, an NASBP member celebrating its 20th anniversary in business, has been one of the largest bond only producers in the State of Texas. Clem Lesch commented, “We have always been proud of our association with SureTec and consider it one of our valued markets. Under our new ownership, we will continue to build and foster that relationship”.

SureTec, through independent insurance agents and professional surety bond producers, specializes in underwriting contract surety, commercial surety, and related financial products, primarily in the State of Texas.

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