Unistar Financial Service Corp. Acquires International Surety & Casualty Company

Unistar Financial Service Corp. has acquired Dallas-based International Surety & Casualty Company and, at the same time, agreed to acquire International Surety's affiliate, U.S. Fidelity Holding Corp. The purchase price is $103 million in a stock share exchange.

The acquisition includes U.S. Fidelity's auto insurance subsidiaries: Great Southern General Agency; First Choice Underwriters; Peak Underwriters; Advanced Underwriters; Eagle Premium Finance Company; and Eagle Claims Corp.

Marc A. Sparks has been named chairman and chief executive officer of Unistar Financial Service Corp. F. Jeffrey Nelson has been named president and chief financial officer and Kerry A. Sebree holds the position of chief operating officer of the public company. Unistar Financial Service Corp.'s Board has been elected as follows:

• Marc A. Sparks, chairman and CEO, Unistar Financial Service Corp.
• F. Jeffrey Nelson, president and CFO, Unistar Financial Service Corp.
• Morris Belzberg, chairman emeritus and former chairman, Budget Rent-a-Car
• Douglas Gerrard, president, Deere Park Capital Management
• Kerry A. Sebree, executive vice president and chief operating officer, Unistar Financial Service Corp.
• Paul Caver, vice president, CFO and general counsel, Eco Technologies International, Inc.
• J. George Lea, senior vice president, Unistar Financial Service Corp.
• Patrick Rastiello, vice president, Aon Re, Inc.
• Brent Brown, attorney, Abernathy, Roeder, Robertson, Boyd, and Joplin, PC

International Surety and U.S. Fidelity will maintain individual company identity. Unistar's corporate headquarters will be maintained at U.S. Fidelity's corporate headquarters in Dallas.