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DCAP Group Reports Record Year-End Financial Results; Company Achieves Successful Turnaround with Net Income Of More Than $1 Million; Revenue Rises 44%.

Business Wire

| March 13, 2003 | COPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Business Editors

HEWLETT, N.Y.--(BUSINESS WIRE)--March 13, 2003

DCAP Group, Inc. (OTCBB: DCAP), the largest chain of independent storefront insurance agencies in the Northeast, today announced that net income for the year ended December 31, 2002 was a record $1,046,007, or $0.09 per diluted share, compared to a net loss of $929,551, or ($0.08) per diluted share, in the same period a year ago.

Revenue for the year climbed 44% to $3,783,729 from $2,615,306 in 2001.

Year-end results include approximately four months of operations of the Barry Scott Companies, representing 20 storefront locations in New York. DCAP acquired Barry Scott from a subsidiary of The Progressive Corporation on August 30, 2002. In addition, fiscal 2002 includes the earnings from the operation and gain on the sale of its Puerto Rico hotel.

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