Pre-Paid Legal Services: 36 Years and Counting

PPD Plans Marketing Re-Launch in Las Vegas in September

 

 

 

 

ADA, Okla., Aug. 19 /PRNewswire-FirstCall/ — Pre-Paid Legal Services, Inc. (NYSE: PPD) will utilize its 2009 Las Vegas Summit, September 9-12, as a stage for introducing a marketing platform that will revolutionize the way the company markets its legal service plans throughout the U.S. and four Provinces of Canada. Building upon a successful foundation of direct selling, the new marketing process represents the first re-launch in the 36 year history of the company.

 

“We’re not replacing our existing marketing methods,” said Pre-Paid Legal Services Founder and CEO Harland C. Stonecipher. “We are introducing a new web-based marketing process that is so comprehensive it impacts our entire marketing program and enhances our existing business model.”

 

Although PPD is keeping the specifics of this initiative under wraps until the Las Vegas event, the company introduced a package of special August promotions to encourage more U.S. and Canadian Associates to come to the 2009 Summit to be a part of the company’s historic marketing re-launch and to be on the front line during the roll-out of the new marketing platform.

 

Launching an Industry

When Pre-Paid Legal Services launched on February 9, 1973 in Ada, OK, the concept of prepaid legal service plans was still in its infancy in the U.S. PPD took bold steps to spread the word about this approach to providing quality legal services in a cost-effective legal service plan. With this core vision, the company grew, and in the process garnered accolades from national news media, such as Forbes, Fortune, Money, Financial World, Black Enterprise and others. On August 22, 2007, USA Today published an article, based on its own database study of company stock value at corporations where the founder remained at the helm. In this broad ranging study that included 63 companies, PPD ranked third on the list with a 15-year stock gain of 4,302 percent.

 

PPD has also been the recipient of a number of awards and corporate recognition. In 2006, the Foundation for Fair Civil Justice designated PPD for the “Line in the Sand” award for the company’s battle against abuse of the legal system. In addition, PPD was pleased to see the National Association of Attorneys General adopt the “Resolution in Support of the Concept of Prepaid Legal Services Plans” in 2008.

 

Marketing Re-Launch

“If ever there was a time when we needed to make affordable legal services available to people, the time is now,” Stonecipher said. “As a result of the prolonged recession, all too many citizens are facing significant challenges, such as foreclosure, bankruptcy and credit issues.” Armed with the right legal services, including direct access to designated, customer-focused attorneys, individuals have the best means for meeting these financial and personal issues.

 

Pre-Paid Legal Services now provides legal service plans to approximately 1.5 million families, yet even with the combined coverage of all legal service plan providers, there remains a large segment of the population without access to legal services. The re-launch of PPD will help us reach a much greater audience within the U.S. and Canadian markets. It will also provide a means for extending the reach and impact of our Independent Associate network.

 

During a recent teleconference in which he spoke to thousands of PPD Associates, Stonecipher said, “You may not have been here for the launch of Pre-Paid Legal Services in 1973, but you can be a part of our corporate history in September when we announce the re-launch at the MGM Grand in Las Vegas. We’re taking it to a new level from there.”

 

About PPD

Pre-Paid Legal Services was one of the first companies in the United States organized solely to design, underwrite and market legal service plans. PPD provides legal service plans to more than 1.5 million families across the U.S. and Canada. Plan benefits are delivered through a network of independent provider law firms. Members have direct, toll-free access to their provider law firm. Provider firms are carefully selected and quality of service is closely monitored to maintain the high standards of Pre-Paid Legal. The company website is: www.prepaidlegal.com.

 

Forward-Looking Statements

Statements in this press release, other than purely historical information, regarding our future plans and objectives and expected operating results, dividends and share repurchases and statements of the assumptions underlying such statements, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained herein are based on certain assumptions that may not be correct. They are subject to risks and uncertainties incident to our business that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described in the reports and statements filed by us with the Securities and Exchange Commission, including (among others) those listed in our Form 10-K, Form 10-Q and Form 8-K, and include the risks that our membership persistency or renewal rates may decline, that we may not be able to continue to grow our memberships and earnings, that we are dependent on the continued active participation of our principal executive officer, that pending or future litigation may have a material adverse effect on us if resolved unfavorably to us, that we may have compromises of our information security, that during an economic downturn in the economy consumer purchases of discretionary items may be affected which could materially harm our sales, retention rates, profitability and financial condition, that we could be adversely affected by regulatory developments, that competition could adversely affect us, that we are substantially dependent on our marketing force, that our stock price may be affected by short sellers, that we have been unable to increase our employee group membership sales and that our active premium in force is not indicative of future revenue as a result of changes in active memberships from cancellations and additional membership sales. Please refer to pages 15 – 17 of our 2008 Form 10-K for a more complete description of these risks. We undertake no duty to update any of the forward-looking statements in this release.

 

 

 For more information about Pre-Paid Legal Services, you can log on to http://www.prepaidlegal.com/hub/bking62 , http://www.BrandonKing.greatcareerplan.com , or you can also call 1-866-510-7907.

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