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TheStreet Open House

Ebix Responds To Misleading And Inaccurate Seeking Alpha Blog

Stocks in this article: EBIX

Ebix, Inc., (NASDAQ:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today issued the following statement regarding a blog post recently published by Seeking Alpha:

The Company has reviewed the blog post prepared by anonymous blogger “Gotham City Research” that was published by Seeking Alpha on September 19, 2013. In all material respects, the contents of the post are false, misleading, inaccurate, and without merit. The Company further notes that many of the allegations made in this blog post are recycled from a prior posting by the same anonymous blogger. Ebix takes its financial and tax reporting responsibilities very seriously and is confident in the accuracy of its financial disclosures and tax filings. Our principal auditors, as well as our statutory auditors in each of the foreign jurisdictions in which the Company conducts operations, have issued unqualified opinions with respect to the Company’s financial statements.

Ebix has a strong balance sheet, a world class sales force and market-leading products. The Company remains focused on driving shareholder value by executing on its business strategy and will continue to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges.

About Ebix, Inc.

A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.

With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com

Forward-Looking Statements

We have made forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this press release, including, without limitation, statements regarding the Company’s planned stock repurchase program, recurring revenue base, free cash flow and contract pipeline. The words "believes," "anticipates," "plans," "expects," "intends," "estimates," "seeks," "may" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance and achievements, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.

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