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Letter to the Editor

Driversshield.com Announces Termination of Code Technologies Merger Letter of Intent

PLAINVIEW, N.Y. -- driversshield.com Corp. has announced that, after completing extensive due diligence on Code Technologies, Inc. and the Telematics industry, it has terminated its previously announced Letter of Intent to merge Code Technologies into a wholly owned subsidiary of driversshield and will remain focused on its core competencies.

Barry Siegel, CEO of driversshield.com, stated, "We believe Telematics has potential in the automotive marketplace and there appears to be evidence that Telematics has been successfully marketed to commercial fleets and rental car companies. However, we have been unable to determine satisfactory market acceptance of a consumer Telematics offering in the automotive aftermarket. In addition, there appear to be numerous well funded entrants in the Telematics space and with the recent downturn in the economy and our uncertainty of consumer acceptance, we believe it would be more prudent to remain focused on our core competencies at this time."

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