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Letter to the Editor

Investcorp Completes Acquisition of CCC Information Services Group

The aggregate consideration paid to CCC stockholders is approximately $496 million. The terms of the merger are governed by the Agreement and Plan of Merger, dated as of September 21, 2005, by and among CCC, Cougar Holdings, Inc. and its wholly owned subsidiary, Cougar Merger Sub, Inc. Under the terms of the merger agreement, CCC stockholders will be entitled to receive $26.50 in cash for each share of common stock. Holders of Series F Preferred Stock will be entitled to receive $1.00 in cash, plus accrued and unpaid dividends, if any, for each share of Series F Preferred Stock.

Githesh Ramamurthy, CCC's Chairman and Chief Executive Officer, commented, "We are excited about our new partnership with Investcorp. The combination of their resources and expertise coupled with CCC's market leadership and innovation provides a powerful platform to deliver increased value to customers in the automobile claims and collision repair industries. All of us at CCC are proud of the value we have been able to create for our shareholders and we thank them for their support. At the same time, we eagerly look forward to this next chapter in the Company's history."

Christopher Stadler, Investcorp's Head of Corporate Investments for North America, stated, "Under the guidance of a talented management team, including Mr. Ramamurthy, who will remain CEO, CCC is positioned to maintain its industry leadership. The company will continue to implement a focused growth strategy, emphasizing the expansion of existing business lines and the creation of innovative new products and solutions for its strong base of customers."

CCC stock will cease to trade on the NASDAQ National Market at the close of market on February 10, 2006 and will be delisted. The Bank of New York has been appointed paying agent in connection with the merger and will be charged with mailing a letter of transmittal and instructions to all CCC stockholders of record. The letter of transmittal will direct stockholders on how to surrender shares of CCC stock in exchange for the merger consideration.

Investcorp is a global investment group with offices in London, New York and Bahrain. The firm has four lines of business: corporate investment, real estate investment, asset management, and technology investment. It was established in 1982 and has since completed transactions with an aggregate value of approximately $28 billion. In Europe, Investcorp and its clients currently own corporate investments that include Polyconcept, APCOA, Hilding Anders, and Minimax. In the United States, Investcorp and its clients currently own corporate investments that include American Tire, Associated Materials, and SourceMedia.

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