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AnnuityNet Changes Name, Hopes To Expand Scope

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NU Online News Service, Oct. 20, 2003, 12:12 p.m. EDT – The company formerly known as AnnuityNet Inc., Herndon, Va., is changing its name to Finetre Corp. and trying to expand its product line.

AnnuityNet began using AnnuityNet/VARDS as a temporary name earlier this year, shortly after it acquired the assets of VARDS from Wachovia Insurance Agency Inc., a unit of Wachovia Corp., Charlotte, N.C.

The old AnnuityNet focused on developing a Web-based system for selling and servicing annuities. VARDS sold annuity product and market research information services and also was developing a Web-based annuity sales system.

Finetre will continue to support the AnnuityNet annuity sales system and sell VARDS annuity information services, but Finetre says it also will try to develop Web-based sales and servicing systems for life insurance policies, 529 college savings plans and other products.