Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has entered into a license agreement with the Law Society of England and Wales whereby MDA on an exclusive basis will offer a Law Society-branded Home Information Pack (HIP) service to conveyancing solicitors in England and Wales.
MDA's exclusive arrangement to produce the Law Society's HIP will become non-exclusive two years after HIPs are introduced. HIPs, which consist of legal, disclosure, and home inspection documents, must be provided by home sellers to prospective home buyers in England and Wales in 2007, subject to Government confirmation.
Stated Kevin Martin, President of the Law Society, "The Law Society has already worked well with MDA to provide TransAction on-line. We look forward to working with MDA again to develop a Law Society branded product that will enable solicitors to offer an excellent and cost-effective on-line Home Information Pack service to consumers who are selling their house."
This contract begins an immediate cooperative process to ensure that MDA's Law Society HIP fully meets solicitors' needs, particularly by offering the correct official documents such as NLIS searches to ensure a speedy conveyancing process. MDA has recently started offering a precursor HIP service through several distributor partnerships, and is preparing to be fully operational at the time of the dry run phase planned for 2006.
About MacDonald, Dettwiler and Associates Ltd. (MDA)
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 2,500 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.