Moisture Warranty Corporation, a national moisture warranty company specializing in protecting homes from moisture problems
January 20, 2003 - Moisture Warranty Corporation announced that a special version of its MoistureFree Warranty will be the primary component of the recently- approved national class action settlement involving Dryvit Systems. Dryvit Systems is the nation’s largest manufacturer of exterior insulation and finish system (EIFS).

Moisture Warranty Corporation's Moisture Free Warranty Selected As Centerpiece Of Proposed National Class Action Settlement Involving Dryvit Systems
July 26, 2002 - Moisture Warranty Corporation, a national moisture warranty company specializing in the protection of homes from moisture problems, announced that a special version of its MoistureFree Warranty is the centerpiece of the proposed national class action settlement involving Dryvit Systems.

MoistureFree Warranty For Stucco Homes Wins Approval By Georgia Department Of Insurance
November 21, 2001 - Moisture Warranty Corporation, a national warranty company specializing in the protection of stucco homes, announced that it has won approval by the Georgia Department of Insurance for its MoistureFree Warranty Product.

FOR IMMEDIATE RELEASE

January 20, 2003

Contact:

Kay Birdsong Candler

404.351.6616kay@moisturewarranty.com

MoistureFree Warranty Provides

Long-Term Solution For Stucco Homeowners

Judge Approves Nationwide Class Action Settlement For Dryvit Homeowners

CHARLOTTE—January 20, 2003 - Moisture Warranty Corporation, a national moisture warranty company specializing in protecting homes from moisture problems, announced that a special version of its MoistureFree Warranty will be the primary component of the recently- approved national class action settlement involving Dryvit Systems. Dryvit Systems is the nation’s largest manufacturer of exterior insulation and finish system (EIFS).

The settlement was approved January 14 in the Circuit Court for Jefferson County, Tennessee, before the Honorable Duane Slone in a class action lawsuit known as Bobby R. Posey, et. al v. Dryvit Systems, Inc. The settlement covers all persons or entities who, as of June 5, 2002, owned a one-or two-family residential dwelling or townhouse (in any state other than North Carolina) which is clad, in whole or in part, with EIFS manufactured by Dryvit Systems, Inc. and installed after January 1, 1989.

Moisture Warranty Corporation will act as service provider for the national settlement. As service provider, Moisture Warranty Corporation will be responsible for assisting qualified claimants through the process of correcting moisture problems they may have with their EIFS cladding system. Included as part of the settlement are moisture inspections, the evaluation and completion of required repairs, and the issuance of a Dryvit Settlement Edition of the MoistureFree Warranty. All inspections, a three-year moisture warranty, and a portion of the repair costs will be paid for as part of the settlement. Stucco homeowners with repairs exceeding $15,000 have additional options within the settlement, including a cash payment option. Claims may be made until June 5, 2004.

“We are pleased with the approval of the Dryvit settlement,” commented Chris Burton, president of Moisture Warranty Corporation. “The settlement provides a complete solution process for Dryvit homeowners, addressing any problems they may already have with their stucco home and helps protect them from future problems. Once a home has been through the claims process, the homeowner will have a MoistureFree Warranty, which can add to their peace of mind and the value of their home. Plaintiff’s counsel and Dryvit were looking for a solution to the moisture problem and a way to protect the homeowner from the stigma associated with EIFS. Rather than awarding cash compensation which may or may not be used on the home, this settlement provides a solution to any problems which exist or may exist in the future, restoring consumer confidence in EIFS clad homes. In 1999, once the N.C. class action settlement involving Synergy was approved, other EIFS manufacturers came forward to participate in that settlement. We are hoping the same will happen after this settlement’s approval so the stucco solution will be available to all stucco homeowners, not just Dryvit homeowners.”

Moisture Warranty Corporation has also engaged in an extensive training and certification program for the inspectors and repair contractors involved with the warranty program. An eight-hour video training series instructs inspectors and contractors on the techniques most critical to effectively protect an EIFS-clad home. Inspectors and repair contractors are required to be tested and certified through this training program in order to participate in the Dryvit settlement. 

Realtors and homeowners throughout the country are discovering the many benefits of the MoistureFree Warranty. “Our Company has the experience and expertise to walk a customer through the necessary steps to determine if any problems exist with a home, correctly address those problems, and then issue a warranty on the home to provide future protection against any failures in the system,” says Burton. “Once the home passes inspection and is issued a MoistureFree Warranty, should any problems come up during the term of the warranty, we will pay to have the necessary modifications made to assure that the home stays dry in the future. Even homes which have suffered damage could qualify for the MoistureFree Warranty once appropriate repairs have been completed.”

MoistureFree Warranty is backed by the RWC Stucco Warranty Company (RWCSWC). RWCSWC and its affiliates have 20 years of experience in the home warranty business. Persons interested in the new MoistureFree Warranty should call 1-800-400-8679 for more information or visit the MoistureFree Warranty web site at. For more information about the national Dryvit settlement, visit www.stuccosettlement.com.

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