<PAGE>

                                                               EXHIBIT A

                                 AMENDED AND RESTATED
                             CERTIFICATE OF INCORPORATION

                                          OF

                         CCC INFORMATION SERVICES GROUP INC.


         It is hereby certified that CCC Information Services Group Inc. (the
"CORPORATION") existing pursuant to the provisions of the Delaware General
Corporation Law, as from time to time amended (the "ACT"), hereby is amending
its Certificate of Incorporation, as previously amended, by amending and
restating the original Certificate of Incorporation, as previously amended, in
its entirety, and further certified as follows:

         The original Certificate of Incorporation was filed on April 28, 1983
under the name "Financial Protection Services, Inc." The exact text of the
entire Certificate of Incorporation, as amended and restated (the
"CERTIFICATE"), is set forth in its entirety below:

                                      ARTICLE 1

                           The name of the Corporation is:

                         CCC INFORMATION SERVICES GROUP INC.

                                      ARTICLE 2

         The address of the Corporation's registered office in the State of 
Delaware is 229 South State Street, in the City of Dover, County of Kent.  
The name of the Corporation's registered agent at that address is 
Prentice-Hall Corporation System, Inc.

                                      ARTICLE 3

         The purpose of the corporation is to engage in any lawful act or 
activity for which a corporation may be organized under the Delaware General 
Corporation Law (the "DELAWARE LAW").

                                      ARTICLE 4

         4.1    The total number of shares of stock which the Corporation shall
have authority to issue is 30,000,000 shares of Common Stock, having a par value
of $.10 per share (the "COMMON STOCK"), and 100,000 shares of Preferred Stock,
having a par value of $1.00 per share (the "PREFERRED STOCK").


<PAGE>

         4.2    Each holder of record of shares of the Common Stock shall be
entitled to vote at all meetings of the stockholders and shall have one (1) vote
for each share held by him of record.

         4.3    Subject to all of the rights of the holders of all classes or
series of stock at the time outstanding having prior rights as to dividends, the
holders of the Common Stock shall be entitled to receive dividends at such times
and in such amounts as may be determined by the Board of Directors of the 
Corporation.

         4.4    The Board of Directors is expressly authorized to provide for
the issuance of all or any shares of the Preferred Stock in one or more classes
or series, and to fix for each such class or series such voting powers, full or
limited, or no voting powers, and such distinctive designations, preferences and
relative, participating, optional or other special rights and such
qualifications, limitations or restrictions thereof, as shall be stated and
expressed in the resolution or resolutions adopted by the Board of Directors
providing for the issuance of such class or series and as may be permitted by
the Delaware Law. As of the date of the filing of this Amended and Restated
Certificate of Incorporation, the Corporation shall have series of Preferred
Stock with the designations, number of shares, rights, preferences and
limitations as set forth on EXHIBIT A hereto.

         4.5    In the event of any liquidation, dissolution or winding up of
the Corporation, whether voluntary or involuntary, the holders of the Common
Stock shall be entitled, after payment or provision for payment of the debts and
other liabilities of the Corporation and the amount to which the holders of any
class or series of the Preferred Stock shall be entitled, to share ratably in 
the remaining net assets of the Corporation.

                                      ARTICLE 5

         The following provisions are inserted for the management of the
business and the conduct of the affairs of the Corporation, and for further
definition, limitation and regulation of the powers of the Corporation and of
its directors and stockholders:

         (a)    The business and affairs of the Corporation shall be managed by
    or under the direction of the Board of Directors.

         (b)    The number of directors of the Corporation shall be not less
    than three (3) nor more than seven (7) and shall be fixed in accordance
    with the By-Laws of the Corporation. Election of directors need not be by
    written ballot unless the By-Laws so provide.

         (c)    Subject to the rights, if any, of holders of any series of the
    Preferred Stock then outstanding, any vacancy on the Board of Directors
    that results from an increase in the number of directors may be filled by a
    majority of the Board of Directors then in office, provided that a quorum
    is present, and any other vacancy occurring in the Board of Directors may
    be filled by a majority of the directors then in office, even if less than
    a quorum. Any


                                         -2-


<PAGE>

    director elected to fill a vacancy not resulting from an increase in the
    number of directors shall have the same remaining term as that of his
    predecessor.

         (d)    No director shall be personally liable to the Corporation or
    any of its stockholders for monetary damagers for breach of fiduciary duty
    as a director, except for liability (i) for any breach of the director's
    duty of loyalty to the Corporation or its stockholders, (ii) for acts or
    omissions not in good faith or which involve intentional misconduct or a
    knowing violation of law, (iii) pursuant to Section 174 of the Delaware Law
    or (iv) for any transaction from which the director derived an improper
    personal benefit.

         (e)    In addition to the powers and authority hereinbefore or by
    statute expressly conferred upon them, the directors are hereby empowered
    to exercise all such powers and do all such acts and things as may be
    exercised or done by the Corporation, subject, nevertheless, to the
    provisions of the Delaware Law, this Amended and Restated Certificate of
    Incorporation, and any By-Laws adopted by the stockholders; provided,
    however, that no By-Laws hereafter adopted by the stockholders shall
    invalidate any prior act of the directors which would have been valid if
    such By-Laws had not been adopted.

                                      ARTICLE 6


         The Corporation shall indemnify, in accordance with and to the full
extent now or hereafter permitted by law, any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(including, without limitation, an action by or in the right of the
Corporation), by reason of his acting as a director of the Corporation (and the
Corporation, in the discretion of the Board of Directors, may so indemnify a
person by reason of the fact that he is or was an officer or employee of the
Corporation or is or was serving at the request of the Corporation in any other
capacity for or on behalf of the Corporation) against any liability or expense
actually or reasonably incurred by such person in respect thereof; PROVIDED,
HOWEVER, that the Corporation shall not be obligated to indemnify any such
person: (i) with respect to proceedings, claims or actions initiated or brought
voluntarily without the authorization or consent of the Corporation by such
person and not by way of defense; or (ii) for any amounts paid in settlement of
an action effected without the prior written consent of the Corporation to such
settlement.  Such indemnification is not exclusive of any other right of
indemnification provided by law, agreement or otherwise.

                                      ARTICLE 7

         No amendment to or repeal of Articles 5(d) or 6 of this Amended and
Restated Certificate of Incorporation shall apply to or have any effect on the
rights of any individual referred to in Article 5(d) or 6 for or with respect to
acts or omissions of such individual occurring prior to such amendment or 
repeal.


                                         -3-


<PAGE>

                                      ARTICLE 8

         Meetings of stockholders may be held within or without the State of
Delaware, as the By-Laws may provide.  The books of the Corporation may be kept
(subject to any provision contained in Delaware Law) outside the State of
Delaware at such place or places as may be designated from time to time by the
Board of Directors or in the By-Laws of the Corporation.  Election of directors
need not be by written ballot unless the By-laws of the Corporation shall so
provide.

                                      ARTICLE 9

         No stockholder of the Corporation shall by reason of holding shares of
any class of stock have any pre-emptive or preferential right to purchase or
subscribe to any shares of any class of stock of the Corporation, now or
hereafter to be authorized, or any notes, debentures, bonds, or other securities
convertible into or carrying options or warrants to purchase shares of any class
of such stock, now or hereafter to be authorized, whether or not the issuance of
any such shares, or such notes, debentures, bonds or other securities would 
adversely affect the dividend or voting rights of such stockholder, other than
such rights, if any, as the Board of Directors, in its discretion from time to
time, may grant and at such price as the Board of Directors in its discretion
may fix; and the Board of Directors may issue shares of any class of stock of
the Corporation, or any notes, debentures, bonds or other securities convertible
into or carrying options or warrants to purchase shares of any class of such
stock, without offering any such shares of any class, either in whole or in
part, to the existing stockholders of any class of such stock.

                                      ARTICLE 10

         The By-laws may be altered, amended or repealed or new By-laws may be
adopted by the holders of at least 50% of the total voting power of all shares
of stock of the Corporation entitled to vote in the election of directors,
considered for the purposes of this Article 10 as one class, at any regular
meeting of the stockholders, or at any special meeting of the stockholders if
notice of such alteration, amendment, repeal or adoption of new By-laws be
contained in the notice of such special meeting.

                                      ARTICLE 11

         The Corporation is hereby exempt from the applicability and coverage
of Section 203 of the Delaware Law.


                                         -4-


<PAGE>

         This Certificate has been duly adopted in accordance with the
provisions of Sections 228, 242 and 245 of the Act.

         IN WITNESS WHEREOF, the Corporation has caused this Certificate to be
executed by the undersigned duly authorized officer of the Corporation on this
21st day of August, 1996.

                                            CCC INFORMATION SERVICES
                                                 GROUP INC.

                                            By: /s/ Gerald P. Kenney
                                               --------------------------------
                                            Name: Gerald P. Kenney
                                                 ------------------------------
                                            Title:  Secretary
                                                  -----------------------------

<PAGE>

                                      EXHIBIT A

                             CERTIFICATE OF DESIGNATIONS

                                          of

                    SERIES C CUMULATIVE REDEEMABLE PREFERRED STOCK

                                          of

                         CCC INFORMATION SERVICES GROUP INC.

                           (Pursuant to Section 151 of the
                          Delaware General Corporation Law)


                              -------------------------

    Section 1.     DESIGNATION AND AMOUNT.  The shares of such series shall be
designated as Series C Cumulative Redeemable Preferred Stock (the "Series C
Preferred Stock") and the number of shares constituting the Series C Preferred
Stock shall be 5,000 shares.  The stated value of each share of Series C
Preferred Stock (the "Stated Value") shall be $1,000.  The Series C Preferred
Stock shall rank prior to the common stock, par value $0.10 per share (the
"Common Stock") and any other capital stock of the Corporation which by its
terms is junior to the Series C Preferred Stock with respect to dividend rights
and with respect to the distribution of assets upon liquidation, dissolution or
winding up, whether voluntary or involuntary, of the Corporation ("Junior
Stock") and on a parity with the Series D Cumulative Redeemable Preferred Stock,
par value $1.00 per share (the "Series D Preferred Stock"), the Series E
Cumulative Redeemable Preferred Stock, par value $1.00 per share (the "Series E
Preferred Stock"), and any other capital stock subsequently issued by the
Corporation which by its terms is on a parity with the Series C Preferred Stock
with respect to dividend rights and with respect to the distribution of assets
upon the liquidation, dissolution or winding up, whether voluntary or
involuntary, of the Corporation ("Parity Stock").

    Section 2.     DIVIDENDS.  (a)  GENERAL.  Commencing on the first Dividend
Payment Date (as defined below) to occur following the fourth anniversary of the
Original Issue Date (the "Dividend Rate Adjustment Date"), the holders of
shares of the Series C Preferred Stock shall be entitled to receive cash
dividends, when and as declared by the Board of Directors or by a duly
authorized committee of said Board of Directors, out of assets legally available
for such purpose, at the Dividend Rate set forth below in Section 3 applied to
the Stated Value.  Such dividends shall be cumulative from the date of original
issue of such shares (the "Original Issue Date"), whether or not there shall
have been net profits or net assets of the Corporation legally available for the
payment of

<PAGE>

dividends at the time such dividends were payable, and shall be payable 
quarterly, when and as declared by the Board of Directors of the Corporation 
or by a duly authorized committee of said Board of Directors, on November 30, 
February 28, May 31 and August 31 of each year (each such date being 
hereafter referred to as a "Dividend Payment Date"), commencing on the 
Dividend Rate Adjustment Date; PROVIDED; HOWEVER, in the event the 
Corporation shall fail to redeem shares of the Series C Preferred Stock in 
accordance with Section 7(b)(ii), dividends shall be payable commencing 
on the first Dividend Payment Date following the 90th day after the 
consummation of the IPO (as defined in Section 9).  Each such dividend shall 
be payable to the holders of record of shares of the Series C Preferred Stock 
as they appear on the stock register of the Corporation on such record date, 
not more than 60 days preceding the payment date thereof, as shall be fixed 
by the Board of Directors or by a duly authorized committee of said Board of 
Directors, PROVIDED THAT such record date shall not precede the date upon 
which the resolution fixing the record date is adopted.  Dividends on account 
of arrears for any past Dividend Periods (as defined in subsection (b) of 
this Section 2) may be declared and paid at any time, without reference to 
any regular Dividend Payment Date, to holders of record on such record date, 
not exceeding 60 days preceding the payment date thereof, as may be fixed by 
the Board of Directors or a duly authorized committee of said Board of 
Directors.

    (b)  DIVIDEND PERIODS.  Dividend periods (hereinafter called "Dividend
Periods") shall commence on December 1, March 1, June 1 and September 1 of each
year and shall end on and include the calendar day next preceding the first day
of the next Dividend Period (other than the initial Dividend Period which shall
commence on the Original Issue Date and shall end on and include the Dividend
Rate Adjustment Date).  The amount of dividends payable for each Dividend Period
or portion thereof for the Series C Preferred Stock shall be computed by
multiplying the Stated Value by a fraction, (i) the numerator of which is (A)
the applicable Dividend Rate multiplied by (B) the number of calendar days
elapsed during such Dividend Period or portion thereof and (ii) the denominator
of which is 365.  If more than one Dividend Rate applies to any Dividend Period
or portion thereof, the calculation in the preceding sentence shall be applied
for each period of time during which a given Dividend Rate is applicable.  The
dividend payable to each holder of Series C Preferred Stock shall be rounded to
the nearest one cent with $.005 being rounded upward.

    (c)  DIVIDENDS ON PARITY STOCK.    So long as any shares of the Series C
Preferred Stock are outstanding, no full dividends shall be declared on any
Parity Stock for any period unless full cumulative dividends have been or
contemporaneously are declared on the Series C Preferred Stock for all Dividend
Periods terminating on or prior to the date of payment of such full cumulative
dividends.  When dividends are not declared to be paid in full, as described
above, upon the shares of the Series C Preferred Stock and any Parity Stock, all
dividends declared upon shares of the Series C Preferred Stock and any Parity 
Stock shall be declared pro rata so that the amount of dividends declared per 
share on the Series C Preferred Stock and such Parity Stock shall in all cases 
bear to each other the same ratio that accrued dividends per share on the shares
of the Series C Preferred Stock and such Parity Stock bear to each other.

    (d)  DIVIDENDS ON JUNIOR STOCK.    So long as any shares of the Series C
Preferred Stock are outstanding, no dividend (other than dividends or
distributions paid in shares of, or options,


                                         -2-

<PAGE>

warrants or rights to subscribe for or purchase shares of Junior Stock) shall be
declared or paid or set aside for payment or other distribution declared or made
upon any Junior Stock, or upon any Parity Stock except as provided in Subsection
(c) of this Section 2, nor shall any Junior Stock or Parity Stock (other than 
the Series D Preferred Stock and the Series E Preferred Stock) be redeemed,
purchased or otherwise acquired for any consideration (or any monies be paid to
or made available for a sinking fund for the redemption of any shares of any
such stock) by the Corporation (except by conversion into or exchange for Junior
Stock).

    (e)  NO ADDITIONAL DIVIDENDS. Holders of shares of the Series C Preferred
Stock shall not be entitled to any dividends, whether payable in cash, property
or stock, in excess of full cumulative dividends, as herein provided, on the
Series C Preferred Stock.  No interest, or sum of money in lieu of interest,
shall be payable in respect to any dividend payment or payments on the Series C
Preferred Stock.

    Section 3.     DIVIDEND RATE.  The Dividend Rate on the shares of Series C
Preferred Stock shall be 2.75% per annum for the period from the Original Issue
Date to and including the EARLIER of the (i) date of the consummation of the IPO
or (ii)  the Dividend Rate Adjustment Date and shall be 8.0% per annum for each
Dividend Period or portion thereof thereafter occurring, subject to adjustment
as follows:

    (a)  If the Corporation consummates an IPO prior to the Dividend Rate
Adjustment Date and redeems the Series C Preferred Stock in accordance with the
terms set forth in Section 7(b)(i) or 7(b)(ii),, then the Dividend Rate shall be
0% per annum from the date of consummation of the IPO to the Dividend Rate
Adjustment Date.

    (b)  If, prior to the date for mandatory redemption of all outstanding
shares of Series C Preferred Stock established pursuant to Section 7(a), 7(b)(i)
or 7(b)(ii), the Corporation offers in good faith to repurchase on a pro rata
basis all or a portion of the outstanding shares of each of the Series C
Preferred Stock, Series D Preferred Stock and Series E Preferred Stock at a
repurchase price per share equal to at least the Stated value, together with
accrued and unpaid dividends thereon to (and including) the date fixed for such
repurchase, the Dividend Rate applicable to the shares of Series C Preferred
Stock which the Corporation offered to repurchase and which the holders thereof
refused such offer to repurchase shall, after the date fixed for such repurchase
of the Series C Preferred Stock, be the LESSER of 1% and any Dividend Rate
calculated pursuant to Subsection (a) of this Section 3.

    Section 4.     VOTING RIGHTS.

    (a)  The holders of the Series C Preferred Stock shall not have any voting
rights, except as required by the Delaware General Corporation Law; PROVIDED,
HOWEVER, that the affirmative vote of the holders of at least 66-2/3% of the
outstanding shares of the Series C Preferred Stock, voting separately as a
class, in person or by proxy, at a special or annual meeting of stockholders
called for the purpose, shall be necessary to (i) authorize, create or increase
the authorized or issued


                                         -3-

<PAGE>

number of shares of, or issue (including on conversion or exchange of any 
convertible or exchangeable securities or by reclassification) any shares of 
any class or classes or series of Parity Stock or the capital stock of the 
Corporation having rights senior to the Series C Preferred Stock with respect 
to dividend rights and with respect to the distribution of assets upon the 
liquidation, dissolution or winding up, whether voluntary or involuntary of 
the Corporation ("Senior Stock") or (ii) amend, alter or repeal (whether by 
merger, consolidation or otherwise) any of the provisions of the Certificate 
of Incorporation of the Corporation or the Certificate of Designations of the 
Series C Preferred Stock which would materialy and adversely affect any right, 
preference, privilege or voting power of the Series C Preferred Stock or the 
holders thereof; PROVIDED, HOWEVER, that the creation and issuance of any 
Junior Stock, shall not be deemed to materially and adversly affect such 
rights, preferences or voting powers.  For the taking of any action as 
provided in this paragraph (a) by the holders of shares of the Series C 
Preferred Stock, each such holder shall have one vote for each share of 
Series C Preferred Stock standing in his or her name on the transfer books of 
the Corporation as of any record date fixed for such purpose or, if no such 
date has been fixed, at the close of business on the Business Day (as defined 
in Section 9) next preceding the day on which notice is given, or if notice 
is waived, at the close of business on the Business Day next preceding the 
day on which the meeting is held.  At each meeting of stockholders at which 
the holders of shares of the Series C Preferred Stock shall have the right, 
voting separately as a single class, to take any action pursuant to this 
paragraph (a), the presence in person or by proxy of the holders of record of 
50% of the total number of shares of the Series C Preferred Stock then 
outstanding and entitled to vote on the matter shall be necessary and 
sufficient to constitute a quorum.  At any such meeting or at any adjournment 
thereof, (i) the absence of a quorum of the holders of shares of any other 
class or series of capital stock of the Corporation shall not prevent the 
taking of any action as provided in this paragraph (a) and (ii) in the 
absence of a quorum of the holders of shares of the Series C Preferred Stock, 
the holders of a majority of such shares present in person or by proxy shall 
have the power to adjourn the meeting as to the actions to be taken by the 
holders of shares of the Series C Preferred Stock from time to time and place to
place without notice other than announcement at the meeting until a quorum shall
be present.

    (b)  So long as White River Ventures, Inc. ("White River") or any of its 
Affiliates (as defined in Section 9) beneficially owns at least fifty percent 
of the issued and outstanding shares of Series C Preferred Stock, if the 
Corporation shall fail (i) to discharge its obligation to redeem shares of 
the Series C Preferred Stock pursuant to Section 7 (a "Redemption Default") 
or (ii) to declare and pay in full the dividends on the Series C Preferred 
Stock with respect to a Dividend Period pursuant to Section 2 and such 
dividends have not been declared and paid within 90 days after the end of 
such Dividend Period (such failure to declare and pay being hereinafter 
referred to as a "Dividend Default"), the number of directors constituting 
the Board of Directors shall, without further action, be increased by a 
number of directors sufficient to permit the directors elected to fill such 
newly created directorships to constitute a majority of the directors of the 
Corporation and shall thereafter be increased by a number of directors 
sufficient to permit the directors elected to fill all such newly created 
directorships to continue to constitute a majority of the directors of the 
Corporation, and the holders of the Series C Preferred Stock shall have, in 
addition to the other voting rights set forth herein, the exclusive right, 
voting separately as a single class, to elect the

                                         -4-

<PAGE>

directors of the Corporation to fill such newly created directorships, the
remaining directors to be elected by the other classes and series of stock
entitled to vote therefor, at each meeting of stockholders held for the purpose
of electing directors.  In the case of a Redemption Default, such additional
directors shall continue as directors and such additional voting rights shall
continue until such time as White River and its Affiliates shall cease to own at
least fifty percent of the issued and outstanding shares of the Series C
Preferred Stock, at which tame such additional directors shall cease to be
directors and such additional voting rights of the holders of the Series C
Preferred Stock shall terminate.  In the case of a Dividend Default, such
additional directors shall continue as directors and such additional voting
rights shall continue until such time as a Dividend Default no longer exists, at
which time such additional directors shall cease to be directors and such
additional voting rights of the Series C Preferred Stock shall terminate subject
to revesting in the event of each and every subsequent Dividend Default.  In the
event that for any reason the number of directors constituting the Board of
Directors cannot be increased sufficiently to permit the implementation of this
Subsection (b), the Corporation shall take all actions necessary to implement
the intent of this Subsection (b), including, without limitation, causing a
number of directors to resign from the Board of Directors sufficient to permit
directors elected pursuant to this Subsection (b) to fill the resulting
vacancies and constitute a majority of the Board of Directors.

          (c)  The foregoing rights of holders of shares of the Series C
Preferred Stock to take any actions as provided in this section 4 may be
exercised at any annual meeting of stockholders or at a special meeting of
stockholders held for such purpose or at any adjournment thereof, or by the
written consents delivered to the Secretary of the Corporation, of the holders
of the minimum number of shares required to take such action.

          Section 5.     REACQUIRED SHARES. Any shares of Series C Preferred
Stock redeemed, purchased or otherwise acquired by the Corporation in any manner
whatsoever shall be retired and canceled promptly after the acquisition thereof.
All such shares shall upon their cancellation become authorized but unissued
shares of preferred stock, par value $1.00 per share, of the Corporation and may
be reissued as part of another series of preferred stock, par value $1.00 per
share, of the Corporation subject to the conditions or restrictions on
authorizing or creating any class or series, or any shares of any class or
series as set forth herein.

          Section 6.     LIQUIDATION DISSOLUTION OR WINDING-UP. (a) In the event
of any liquidation, dissolution or winding up of the corporation, whether
voluntary or involuntary, before any payment or distribution of the assets of
the Corporation (whether capital or surplus) shall be made to or set apart for
the holders of shares of any series or class or classes of Junior Stock, the
holders of the shares of the Series C Preferred Stock shall be entitled to
receive the Stated Value per share plus an amount equal to all dividends
(whether or not earned or declared) accrued and unpaid thereon to the date of
final distribution to such holders; but such holders shall not be entitled to
any further payment, if, upon any liquidation, dissolution or winding up of the
Corporation, the assets of the Corporation, or proceeds thereof, distributable
among the holders of the shares of the Series C Preferred Stock shall be
insufficient to pay in full the preferential amount aforesaid and liquidating
payment on any Parity Stock, then such assets, or the proceeds thereof, shall be
distributed among


                                       -5-

<PAGE>

the holders of shares of Series C Preferred Stock and any Parity Stock ratably
in accordance with the respective amounts which would be payable on such shares
of Series C Preferred Stock and any Parity Stock if all amounts payable thereon
were paid in full.  For the purposes of this Section 6, a consolidation or
merger of the Corporation with one or more corporations shall not be deemed to
be a liquidation, dissolution or winding up, voluntary or involuntary.

          (b)  Subject to the rights of the holders of shares of any series or
classes of Parity Stock or Senior Stock, upon any liquidation, dissolution or
winding up of the Corporation, after payment shall have been made in full to the
holders of the Series C Preferred Stock as provided in this Section 6, but not
prior thereto, any series or class of classes of Junior Stock shall, subject to
the respective terms and provisions (if any) applying thereto, be entitled to
receive any and all assets remaining to be paid or distributed, and the holders
of the Series C Preferred Stock shall not he entitled to share therein.

          Section 7.     REDEMPTION.

          (a)  MANDATORY FIVE YEAR REDEMPTION. Unless redeemed pursuant to
Sections 7(b), 7(c) and 7(d) prior to June 16, 1999, the Corporation shall, on
such date and to the extent the Corporation has funds legally available
therefor, redeem all shares of Series C Preferred Stock then outstanding at a
redemption price per share equal to the Stated Value, together with accrued and
unpaid dividends thereon to (and including) such redemption date, without
interest.

          (b)  MANDATORY REDEMPTION EVENTS. (i) Concurrent with the consummation
of an IPO having net proceeds to the Corporation less than or equal to
$40,000,000, the Corporation shall, to the extent the Corporation has funds
legally available therefor, redeem the LESSER of (A) the number of shares of
Series C Preferred Stock then outstanding and (B) that number of shares of
Series C Preferred Stock having an aggregate Stated Value and accrued and unpaid
dividends equal to $2,564,103 at a redemption price per share equal to the
Stated Value, together with accrued and unpaid dividends thereon to (and
including) such redemption date, without interest, employing a Dividend Rate of
8.0% on the portion to be so redeemed for the period from the date of the
consummation of such IPO to (and including) such redemption date; PROVIDED,
HOWEVER, that to the extent the Corporation after giving effect to any required
payments under the Loan Agreement (as defined in Section 9) from the net
proceeds of the IPO would not have sufficient funds available to so redeem
shares of Series C Preferred Stock in accordance with this subsection (b)(i) and
any Parity Stock entitled to redemption in accordance with the terms of such
Parity Stock, the Corporation shall redeem concurrent with the consummation of
the IPO that number of shares of Series C Preferred Stock and Parity Stock
entitled to redemption having an aggregate Stated Value equal to the balance of
the net proceeds of the IPO remaining after any such payments under the Loan
Agreement and shall redeem the remaining shares of Series C Preferred Stock to
be redeemed pursuant to this Section (b)(i) and any Parity Stock entitled to
redemption within 120 calendar days after the consummation of the IPO; PROVIDED,
FURTHER, that to the extent that all shares of Series C Preferred Stock to be
redeemed pursuant to this Subsection (b)(i) have not been redeemed within such
120 calendar day period, the Corporation shall, to the extent the Corporation
has funds legally available

                                       -6-

<PAGE>

therefor, redeem all shares of Series C Preferred Stock then outstanding at a
redemption price per share equal to the Stated Value, together with accrued and
unpaid dividends thereon to (and including) such redemption date, without
interest, employing a Dividend Rate of 8.0% for the period from the date of the
consummation of the IPO to (and including) such redemption date.

          (ii) Concurrent with the consummation of an IPO having net proceeds to
the Corporation in excess of $40,000,000, the Corporation shall, to the extent
the Corporation has funds legally available therefor, redeem the LESSER of (1)
the number of shares of Series C Preferred Stock then outstanding and (2) the
number of shares of Series C Preferred Stock having an aggregate Stated Value
and accrued and unpaid dividends at least equal to 6.424% of the net proceeds to
the Corporation from the IPO at a redemption price per share equal to the Stated
Value, together with accrued and unpaid dividends thereon to (an including) such
redemption date, without interest, employing a Dividend Rate of 8.0% for the
period from the date of the consummation of such IPO to (and including) such
redemption date; PROVIDED, HOWEVER, that to the extent the Corporation after
giving effect to any required payments under the Loan Agreement would not have
sufficient funds available to so redeem shares of Series C Preferred Stock in
accordance with this subsection (b)(ii) and any Parity Stock entitled to
redemption in accordance with the terms of such Parity Stock, the Corporation
shall redeem concurrent with the consummation of the IPO that number of shares
of Series C Preferred Stock and Parity Stock entitled to redemption having an
aggregate Stated Value equal to the balance of the net proceeds of the IPO
remaining after any such payments under the Loan Agreement and shall redeem the
remaining shares of Series C Preferred Stock to be redeemed pursuant to this
subsection (b)(ii) and any Parity Stock entitled to redemption within 90
calendar days after the consummation of the IPO; PROVIDED, FURTHER, that to the
extent that shares of the Series C Preferred Stock to be redeemed pursuant to
this subsection (b)(ii) having an aggregate Stated Value and accrued and unpaid
dividends of at least $2,564,103 have not been redeemed within such 90 calendar
day period, the Corporation shall, to the extent the Corporation has funds
legally available therefor redeem all shares of Series C Preferred Stock then
outstanding at a redemption price per share equal to the Stated Value; together
with accrued and unpaid dividends thereon to (and including) such redemption
date, without interest, employing a Dividend Rate of 8.0% for the period from
the date of the consummation of the IPO to (and including) such redemption date
and; PROVIDED, FURTHER, to the extent that the Corporation has redeemed shares
of the Series C Preferred Stock to be redeemed pursuant to this subsection
(b)(ii) having an aggregate Stated Value and accrued and unpaid dividends of at
least $2,564,103, but less that the full amount of shares of Series C Preferred
Stock required by this subsection (b)(ii), the Corporation shall on June 15,
1998, to the extent the Corporation has funds legally available therefor, redeem
all shares of Series C Preferred Stock then outstanding at a redemption price
per share equal to the Stated Value, together with accrued and unpaid dividends
thereon to (and including) such redemption date, without interest.

          (iii)     In the event that the Corporation fails to use at least
6.41% of the net proceeds received by the Corporation from any Subsequent
Offering (as defined in Section 9) to redeem any outstanding shares of Series C
Preferred Stock on the date of the consummation of such Subsequent Offering, the
Series C Preferred Stock shall be subject to redemption, in whole or in part, in
cash, at the option of the holder thereof from time to time and at any time as
determined by the


                                       -7-

<PAGE>

holders of a majority of the outstanding shares of the Series C Preferred Stock
(with written notice thereof being delivered to the Corporation) at a redemption
price per share equal to the Stated Value, together with accrued and unpaid
dividends thereon to (and including) the redemption date, without interest.  On
the redemption date, the Corporation shall redeem all shares of Series C
Preferred Stock tendered for redemption pursuant to this subsection (b)(iii).

          (c)  REDEMPTION IN THE EVENT OF ACCELERATION OF INDEBTEDNESS.  In the
event that the Corporation or any Subsidiary shall fail to perform or observe
any term, covenant or condition related to any Indebtedness (as defined in
section 9) of the Corporation or any Subsidiary (other than any Indebtedness of
Phone Base Systems, Inc. ("Phone Base") which is non-recourse to the Corporation
or any subsidiary, other than Phone Base) and the effect of such failure to
perform or observe is (i) a failure by the Corporation or any Subsidiary to pay
any principal or interest on any indebtedness when due or during any applicable
grace period therefor or (ii) receipt of notice by the Corporation or any
Subsidiary of the acceleration of the maturity or required prepayment (other
than by a regularly scheduled required prepayment) prior to the stated maturity
of any Indebtedness and demand for payment with respect thereto, in either case
with respect to Indebtedness in an aggregate amount in excess of $500,000 (the
"Acceleration Redemption Event"), (A) the Series C Preferred Stock shall be
subject to redemption, in whole or in part, in cash at the option of the holder
thereof from time to time and at any time as determined by the holders of a
majority of the outstanding shares of the Series C Preferred Stock (with written
notice thereof being delivered to the Corporation) after the Accelerated
Redemption Event at a redemption price per share equal to the Stated Value,
together with accrued and unpaid dividends thereon to (and including) the
redemption date, without interest and (B) notwithstanding Section 4(b), the
holders of a majority of the outstanding Series C Preferred Stock shall have the
sole discretion to determine on behalf of the Corporation any and all actions to
be taken by the Corporation or any Subsidiary with respect to any Indebtedness
related to the Accelerated Redemption Event so long as any such actions permit
all holders of the Common Stock to participate on a proportionate basis in any
actions to be effected by the holders of the Common Stock.  On the redemption
date, the Corporation shall redeem all shares of Series C Preferred Stock
tendered for redemption pursuant to this subsection (c).

          (d)  REDEMPTION IN THE EVENT OF CERTAIN BUSINESS COMBINATIONS.  For 
so long as White River or any of its Affiliates shall own any shares of 
Series C Preferred Stock (A) neither the Corporation nor any of its Material 
Subsidiaries (as defined in Section 9) shall engage in any merger, 
reorganization or consolidation (other than transactions involving the 
merger, reorganization or consolidation of a Subsidiary of the Corporation 
with or into the Corporation or with or into a wholly owned Subsidiary of the 
Corporation) and (B) the Corporation shall not sell or otherwise transfer, in 
a single transaction or series of transactions, all or substantially all or a 
material part of the assets or shares of the Common Stock of the Corporation 
to or with any Person (as defined in section 9) other than in connection with 
the sale of the Faneuil Group or to or with the Corporation or a wholly owned 
Subsidiary of the Corporation unless on or prior to the consummation of the 
transactions described in clauses (A) and (B) all shares of the Series C 
Preferred Stock shall have been redeemed at a redemption price per share 
equal to the Stated Value, together with accrued and unpaid dividends thereon 
to (and including) such redemption date, without interest.


                                       -8-

<PAGE>

         (e)  RIGHTS OF SERIES C PREFERRED STOCK FOLLOWING REDEMPTION. On and
after any date fixed for redemption, PROVIDED THAT the redemption price
(including any accrued and unpaid dividends to (and including) the date fixed
for redemption) has been duly paid or segregated and held in trust by a duly
authorized independent paying agent for the benefit of the Persons entitled
thereto, dividends shall cease to accrue on the Series C Preferred Stock called
for redemption, such shares shall no longer be deemed to be outstanding and all
rights of the holders of such shares as stockholders of the Corporation shall
cease and the right to receive the moneys payable upon such redemption, without
interest thereon, upon surrender of the certificates evidencing such shares.

         (f)  NOTICE OF REDEMPTION. Notice of any redemption be given to the
holders of shares of Series C Preferred Stock not less than 30 nor more than 60
days prior to the date fixed for redemption. Notice of redemption shall be given
by first class mail to such holders, respective addresses as shown on the stock
books of the corporation and will specify (A) the date fixed for redemption, (B)
the applicable redemption price and (C) in the case of a partial redemption, the
number of shares of Series C Preferred Stock to be redeemed and the aggregate
number of shares of Series C Preferred Stock which will be outstanding after
such redemption. If less than all shares of Series C Preferred Stock then
outstanding are to be redeemed, the shares of Series C Preferred stock will be
redeemed pro rata from among the holders of shares of Series C Preferred Stock
then outstanding.

         (g)  FINAL REDEMPTION OBLIGATION.  If the Corporation shall fail any
time to discharge its obligation to redeem shares of Series C Preferred Stock
pursuant to this Section 7 (the "Final Redemption Obligation"), such Final
Redemption obligation shall be discharged as soon as the Corporation is able to
discharge such Final Redemption Obligation using funds legally available
therefor. Notwithstanding anything in this Section 7 to the contrary, in the
event the Corporation fails to discharge its obligation to redeem shares of
Series C Preferred Stock as and when such shares are tendered for redemption
pursuant to Section 7 for any reason whatsoever (including, without limitation,
the failure of the Corporation to have funds legally available therefor), such
failure shall constitute a failure by the Corporation to discharge its
obligation to redeem shares of the Series C Preferred Stock for purposes of
Section 4(b).

         (h)  REDEMPTION OF PARITY STOCK PRO-RATA.  If upon the occurrence of
any event requiring redemption of the shares of Series C Preferred Stock
pursuant to this Section 7, the assets of the Corporation, or net proceeds
thereof, shall be insufficient to redeem in full the applicable amount of Series
C Preferred Stock and any Parity Stock required to be redeemed by the
Corporation, then the Corporation shall redeem shares of Series C Preferred
Stock and any Parity Stock ratably in accordance with the respective amounts
which would be redeemable if the Series C Preferred Stock and the Parity Stock
required to be redeemed by the Corporation were redeemed in full.

         Section 8.     CERTAIN COVENANTS.  Any registered holder of the Series
C Preferred Stock may proceed to protect and enforce its rights and the rights
of such holders by any available remedy by proceeding at law or in equity to
protect and enforce any such rights, whether for the


                                         -9-

<PAGE>

specific enforcement of any provision or in aid of the exercise of any power
granted herein, or to enforce any other proper remedy.

         Section 9.     DEFINITIONS.  For the purposes of this Certificate of
Designations of Series C Redeemable Preferred Stock, the following terms shall
have the meanings indicated:

         "Affiliate" means a Person that directly or indirectly through one or
more intermediaries, controls, or is controlled by, or is under common control
with, another Person.

         "Business Day" means any day other than a Saturday, Sunday or a day on
which banking institutions in the State of New York are authorized or obligated
by law or executive order to close.

         "Capital Lease" means any lease of any property (whether real,
personal or mixed) by the Corporation or any of the Subsidiaries as lessee
which, in conformity with generally accepted accounting principles, is accounted
for as a capital lease on the balance sheet of the Corporation or any of the
Subsidiaries; PROVIDED, HOWEVER, any such lease which is nonrecourse to the
Corporation or any of the Subsidiaries shall not constitute a Capital Lease.

         "Common Stock Equivalents" means all options, warrants and other
rights to acquire Common Stock or securities convertible into or exchangeable
for Common Stock.

         "Contingent Obligation" means any contractual obligation, contingent 
or otherwise, of one Person with respect to any Indebtedness, obligation or 
liability of another, including, without limitation, direct or indirect 
guaranties, endorsements (except for collection or deposit in the ordinary 
course of business), notes co-made or discounted, recourse agreements, 
keep-well agreements, agreements to purchase or repurchase such indebtedness, 
obligation or liability or any security therefor or to provide funds for the 
payment or discharge thereof, agreements to maintain solvency, assets, level 
of income, or other financial condition, and agreements to make payment other 
than for value received.

         "Faneuil Group" means GIS Information Systems, Inc., and Illinois
corporation, Equitel Corp., a Virginia corporation, Original Research II
Corporation, a Delaware corporation, and Credit Card Service Corporation, a
Delaware corporation, collectively.

         "Indebtedness" means, with respect to the Corporation or any of the
Subsidiaries, at any time, (a) all indebtedness, obligations or other
liabilities of the Corporation or any of the Subsidiaries (i) for borrowed money
or evidenced by debt securities, debentures, acceptances, notes or other similar
instruments, (ii) with respect to letters of credit issued for the Corporation's
or any of the Subsidiaries, account, (iii) in respect of Capital Leases and (iv)
which are Contingent Obligations, (b) all indebtedness, obligations or other
liabilities of the Corporation or any of the Subsidiaries or others secured by a
Lien on any property of the Corporation or any of the Subsidiaries, whether or
not such indebtedness, obligations or liabilities are assumed by the


                                         -10-

<PAGE>


Corporation or any of the subsidiaries, all as of such time, (c) all
indebtedness, obligations or other liabilities of the Corporation or any of the
Subsidiaries in respect of Interest Rate Contracts and currency hedging
agreements, net of liabilities owed to the Corporation or any of the
Subsidiaries by the counterparties thereon, and (d) all preferred stock subject
(upon the occurrence of any contingency or otherwise) to mandatory redemption,
other than the Series C Preferred Stock, Series D Preferred Stock and Series E
Preferred Stock.

         "Interest Rate Contracts" means interest rate exchange, collar or cap
or similar agreements providing interest rate protection.

         "IPO" means the initial public offering of Common Stock on a firm
commitment basis pursuant to an effective registration statement under the
Securities Act.

         "Lien" means any mortgage, deed of trust, pledge, security interest,
encumbrance, lien or charge of any kind (including any agreement to give any of
the foregoing, any conditional sale or other title retention agreement, any
lease in the nature thereof, and the filing of or agreement to give any
financing statement under the Uniform Commercial Code of any jurisdiction in
connection with any of the foregoing).

         "Loan Agreement" means (i) the Loan Agreement, dated as of April 29,
1994, among CCC Information Services Inc. and CCC Development Company, as
Borrowers, the financial institutions party thereto, as Lenders and Canadian
Imperial Bank of Commerce, as Agent, (ii) the Security Agreement, dated as of
April 29, 1994, among CCC Information Services Inc., Canadian Imperial Bank of
Commerce, as Agent and Canadian Imperial Bank of Commerce, as Collateral Agent,
(iii) the Guaranty, dated as of April 29, 1994, made by the Corporation in favor
of the Lenders party to the Loan Agreement and Canadian Imperial Bank of
Commerce, as Agent, (iv) the Pledge and Security Agreement, dated as of April
29, 1994, among the Corporation, Canadian Imperial sank of Commerce, as Agent
and Canadian Imperial Bank of Commerce, as Collateral Agent and (v) each other
agreement, document or instrument delivered in connection with the foregoing.

         "Material Subsidiary" means any Subsidiary which produces or
represents 20% or more of (i) consolidated net assets of the Corporation, (ii)
consolidated gross revenues of the Corporation or (iii) consolidated net income
of the Corporation.

         "Person" means an individual or a corporation, partnership, trust,
incorporated or unincorporated association, joint venture, joint stock company
or any other entity or organization, including a government or political
subdivision or agency or instrumentality thereof.

         "Public Offering" means a sale of any of the Corporation's securities
pursuant to an effective registration statement under the Securities Act.

         "Securities Act" means the Securities Act of 1933, as amended.


                                         -11-

<PAGE>


         "Subsequent Offering" means a sale of Common Stock or any Common Stock
Equivalent of the Corporation in a Public Offering after an IPO.

         "Subsidiary" means (i) any Person of which 50% or more of the
securities having ordinary voting power for the election of directors are at the
time owned directly or indirectly by the Corporation or any Subsidiary thereof,
(ii) any Person of which 50% or more of the joint venture, limited partnership
or partnership interests are at the time owned directly or indirectly by the
Corporation or any Subsidiary thereof or (iii) any Person which is a limited
partnership in which the corporation or any Subsidiary is at the time the
general partner or at the time owns 50% or more of the general partner of such
person.


                                    -12-

<PAGE>

                       CERTIFICATE OF DESIGNATIONS

                                     of

                SERIES D CUMULATIVE REDEEMABLE PREFERRED STOCK

                                     of

                       CCC INFORMATION SERVICES GROUP INC.

                         (Pursuant to Section 151 of the
                         Delaware General Corporation Law)


                              ___________________


              Section 1.   DESIGNATION AND AMOUNT. The shares of such series 
shall be designated as Series D Cumulative Redeemable Preferred Stock (the 
"Series D Preferred Stock") and the number of shares constituting the Series 
D Preferred Stock shall be 34,000 shares. The stated value of each share of 
Series D Preferred Stock (the "Stated Value") shall be $1,000. The Series D 
Preferred Stock shall rank prior to the common stock, par value $0.10 per 
share (the "Common Stock"), and any other capital stock of the Corporation 
which by its terms is junior to the Series D Preferred Stock with respect to 
dividend rights and with respect to the distribution of assets upon 
liquidation, dissolution or winding up, whether voluntary or involuntary, of 
the Corporation ("Junior Stock") and on a parity with the Corporation's 
Series C Cumulative Redeemable Preferred Stock, par value $1.00 per share 
(the "Series C Preferred Stock"), Series E Cumulative Redeemable Preferred 
Stock, par value $1.00 per share (the "Series E Preferred Stock"), and any 
other capital stock subsequently issued by the corporation which by its terms 
is on a parity with the Series D Preferred Stock with respect to dividend 
rights and with respect to the distribution of assets upon the liquidation, 
dissolution or winding up, whether voluntary or involuntary, of the 
Corporation ("Parity Stock").

              Section 2.   DIVIDENDS. (a) GENERAL. Commencing on the first 
Dividend Payment Date (as defined below) to occur following the fourth 
anniversary of the Original Issue Date (the "Dividend Rate Adjustment Date"), 
the holders of shares of the Series D Preferred Stock shall be entitled to 
receive cash dividends, when and as declared by the Board of Directors or by 
a duly authorized committee of said Board of Directors, out of assets legally 
available for such purpose, at the Dividend Rate set forth below in Section 3 
applied to the Stated Value. Such dividends shall be



<PAGE>

cumulative from the date of original issue of such shares (the "Original 
Issue Date"), whether or not there shall have been net profits or net assets 
of the Corporation legally available for the payment of dividends at the time 
such dividends were payable, and shall be payable quarterly, when and as 
declared by the Board of Directors of the Corporation or by a duly authorized 
committee of said Board of Directors, on November 30, February 28, May 31 and 
August 31 of each year (each such date being hereinafter referred to as a 
"Dividend Payment Date"), commencing on the Dividend Rate Adjustment Date; 
PROVIDED, HOWEVER, in the event the Corporation shall fail to redeem shares of 
the Series D Preferred Stock in accordance with Section 7(b)(ii), dividends 
shall be payable commencing on the first Dividend Payment Date following the 
90th day after the consummation of the IPO (as defined in Section 9). Each 
such dividend shall be payable to the holders of record of shares of the 
Series D Preferred Stock as they appear on the stock register of the 
Corporation on such record date, not more than 60 days preceding the payment 
date thereof, as shall be fixed by the Board of Directors or by a duly 
authorized committee of said Board of Directors, PROVIDED THAT such record date 
shall not precede the date upon which the resolution fixing the record date is 
adopted. Dividends on account of arrears for any past Dividend Periods (as 
defined in subsection (b) of this Section 2) may be declared and paid at any 
time, without reference to any regular Dividend Payment Date, to holders of 
record on such record date, not exceeding 60 days preceding the payment date 
thereof, as may be fixed by the Board of Directors or a duly authorized 
committee of said Board of Directors.

              (b)   DIVIDEND PERIODS.  Dividend periods (hereinafter called 
"Dividend Periods") shall commence on December 1, March 1, June 1 and 
September 1 of each year and shall end on and include the calendar day next 
preceding the first day of the next Dividend Period (other than the initial 
Dividend Period which shall commence on the Original Issue Date and shall and 
on and include the Dividend Rate Adjustment Date). The amount of dividends 
payable for each Dividend Period or portion thereof for the Series D 
Preferred Stock shall be computed by multiplying the Stated Value by a 
fraction, (i) the numerator of which is (A) the applicable Dividend Rate 
multiplied by (B) the number of calendar days elapsed during such Dividend 
Period or portion thereof and (ii) the denominator of which is 365. If more 
than one Dividend Rate applies to any Dividend Period or portion thereof, the 
calculation in the preceding sentence shall be applied for each period of 
time during which a given Dividend Rate is applicable. The dividend payable 
to each holder of Series D Preferred Stock shall be rounded to the nearest 
one cent with $.005 being rounded upward.

              (c)   DIVIDENDS ON PARITY STOCK.  So long as any shares of the 
Series D Preferred Stock are outstanding, no full dividends shall be declared 
on any Parity Stock for any period unless full cumulative dividends have been 
or contemporaneously are declared on the Series D Preferred Stock for all 
Dividend Periods terminating on or prior to the date of payment of such full 
cumulative dividends. When dividends are not declared to be paid in full, as 
described above, upon the shares of the Series D Preferred Stock and any 
Parity Stock, all dividends declared upon shares of the Series D Preferred 
Stock and any Parity Stock shall be declared pro rata so that the amount of 
dividends declared per share on the Series D Preferred Stock and such Parity 
Stock shall in all cases bear to each other the same ratio that accrued 
dividends per share on the shares of the Series D Preferred Stock and such 
Parity Stock of the Corporation bear to each other.


                                      -2-

<PAGE>

              (d)   DIVIDENDS ON JUNIOR STOCK.  So long as any shares of 
the Series D Preferred Stock are outstanding, no dividend (other than 
dividends or distributions paid in shares of, or options, warrants or rights 
to subscribe for or purchase shares of Junior Stock) shall be declared or 
paid or set aside for payment or other distribution declared or made upon any 
Junior Stock, or upon any Parity Stock (other than the Series C Preferred 
Stock and the Series E Preferred Stock) except as provided in subsection (c) 
of this Section 2, nor shall any Junior Stock or Parity Stock (other than the 
Series C Preferred Stock and the Series E Preferred Stock) be redeemed, 
purchased or otherwise acquired for any consideration (or any monies be paid 
to or made available for a sinking fund for the redemption of any shares of 
any such stock) by the Corporation (except by conversion into or exchange for 
Junior Stock).

              (e)   NO ADDITIONAL DIVIDENDS.  Holders of shares of the Series 
D Preferred Stock shall not be entitled to any dividends, whether payable in 
cash, property or stock, in excess of full cumulative dividends, as herein 
provided, on the Series D Preferred Stock. No interest, or sum of money in 
lieu of interest, shall be payable in respect to any dividend payment or 
payments on the Series D Preferred Stock.

              Section 3.   DIVIDEND RATE.  The Dividend Rate on the shares of 
Series D Preferred Stock shall be 2.75% per annum for the period from the 
Original Issue Date to and including the EARLIER of the (i) date of the 
consummation of the IPO or (ii) the Dividend Rate Adjustment Date and shall 
be 8.0% per annum for each Dividend Period or portion thereof thereafter 
occurring, subject to adjustment as follows:

              (a)   If the Corporation completes an IPO prior to the Dividend 
Rate Adjustment Date and redeems the Series D Preferred Stock, in accordance 
with the terms set forth in Section 7(b)(i) or (b)(ii), then the Dividend 
Rate shall be 0% per annum from the date of closing of the IPO to the 
Dividend Rate Adjustment Date.

              (b)   If, prior to the date for mandatory redemption of all 
outstanding shares of Series D Preferred Stock established pursuant to 
Section 7(a), 7(b)(i) or (b)(ii), the Corporation offers in good faith to 
repurchase on a pro rata basis all or a portion of the outstanding shares of 
each of the Series C Preferred Stock, Series D Preferred Stock and Series E 
Preferred Stock at a repurchase price per share equal to at least the Stated 
Value, together with accrued and unpaid dividends thereon to (and including) 
the date fixed for such repurchase, the Dividend Rate applicable to the 
shares of Series D Preferred Stock which the Corporation offered to 
repurchase and which the holders thereof refused such offer to repurchase 
shall, after the date fixed for such repurchase of the Series D Preferred 
Stock, be the LESSER of 1% and any Dividend Rate calculated pursuant to 
subsection (a) of this Section 3.

              Section 4.   VOTING RIGHTS.

              (a)   The holders of the Series D Preferred Stock shall not 
have any voting rights, except as required by the Delaware General 
Corporation Law; PROVIDED, HOWEVER, the affirmative


                                      -3-

<PAGE>

vote of the holders of at least 66-2/3% of the outstanding shares of the 
Series D Preferred Stock, voting separately as a class, in person or by 
proxy, at a special or annual meeting of stockholders called for the purpose, 
shall be necessary to (i) authorize, create, increase the authorized or 
issued number of shares of, or issue (including on conversion or exchange of 
any convertible or exchangeable securities or by reclassification) any shares 
of any class or classes or series of Parity Stock or the Corporation's 
capital stock having rights senior to or on a parity with the Series D 
Preferred Stock with respect to dividend rights and with respect to the 
distribution of assets upon the liquidation, dissolution or winding up, 
whether voluntary or involuntary, of the Corporation ("Senior Stock") or (ii) 
amend, alter or repeal (whether by merger, consolidation or otherwise) any of 
the provisions of the Certificate of Incorporation of the Corporation or the 
certificate of Designations of the Series D Preferred Stock which would 
materially and adversely affect any right, preference, privilege or voting 
power of the Series D Preferred Stock or the holders thereof; PROVIDED, 
HOWEVER, that the creation and issuance of any Junior Stock, shall not be 
deemed to materially and adversely affect such rights, preferences or voting 
powers. For the taking of any action as provided in this paragraph (a) by the 
holders of shares of the Series D Preferred Stock, each such holder shall 
have one vote for each share of Series D Preferred Stock standing in his or 
her name on the transfer books of the Corporation as of any record date fixed 
for such purpose or, if no such date has been fixed, at the close of business 
on the Business Day (as defined in Section 9) next preceding the day on which 
notice is given, or if notice is waived, at the close of business on the 
Business Day next preceding the day on which the meeting is held. At each 
meeting of stockholders at which the holders of shares of the Series D 
Preferred Stock shall have the right, voting separately as a single class, to 
take any action pursuant to this paragraph (b), the presence in person or by 
proxy of the holders of record of 50% of the total number of shares of the 
Series D Preferred Stock then outstanding and entitled to vote on the matter 
shall be necessary and sufficient to constitute a quorum. At any such meeting 
or at any adjournment thereof, (i) the absence of a quorum of the holders of 
sharers of any other class or series of capital stock of the Corporation 
shall not prevent the taking of any action as provided in this paragraph (b) 
and (ii) in the absence of a quorum of the holders of shares of the Series D 
Preferred Stock, the holders of a majority of such shares present in person 
or by proxy shall have the power to adjourn the meeting as to the actions to 
be taken by the holders of shares of the Series D Preferred Stock from time 
to time and place to place without notice other than announcement at the 
meeting until a quorum shall be present.

              (b)   The foregoing rights of holders of shares of the Series D 
Preferred Stock to take any actions as provided in this Section 4 may be 
exercised at any annual meeting of stockholders or at a special meeting of 
stockholders held for such purpose or at any adjournment thereof, or by the 
written consent, delivered to the Secretary of the Corporation, of the 
holders of the minimum number of shares required to take such action.

              Section 5.   REACQUIRED SHARES.  Any shares of Series D 
Preferred Stock redeemed, purchased or otherwise acquired by the Corporation 
in any manner whatsoever shall be retired and canceled promptly after the 
acquisition thereof. All such shares shall upon their cancellation become 
authorized but unissued shares of preferred stock par value $1.00 per share, 
of the Corporation and may be reissued as part of another series of preferred 
stock, par value $1.00 per share, of the

                                      -4-

<PAGE>

Corporation subject to the conditions or restrictions on authorizing or creating
any class or series, or any shares of any class or series as set forth herein.

         Section 6.     LIQUIDATION, DISSOLUTION OR WINDING UP.

         (a)  In the event of any liquidation, dissolution or winding up of the
Corporation, whether voluntary or involuntary, and subject to the rights of the
holders of shares of any series or class or classes of Senior Stock before any
payment or distribution of the assets of the Corporation (whether capital or
surplus) shall be made to or set apart for the holders of shares of any series
or class or classes of Junior Stock, the holders of the shares of the Series D
Preferred Stock shall be entitled to receive the Stated Value per share plus an
amount equal to all dividends (whether or not earned or declared) accrued and
unpaid thereon to the date of final distribution to such holders; but such
holders shall not be entitled to any further payment. If, upon any liquidation,
dissolution or winding up of the Corporation, the assets of the Corporation, or
proceeds thereof, distributable among the holders of the shares of the Series D
Preferred Stock shall be insufficient to pay in full the preferential amount
aforesaid and liquidating payment on any Parity Stock, then such assets, or the
proceeds thereof, shall be distributed among the holders of shares of Series D
Preferred Stock and any Parity Stock ratably in accordance with the respective
amounts which would be payable on such shares of Series D Preferred Stock and
any Parity Stock if all amounts payable theron were paid in full. For the
purposes of this Section 6, a consolidation or merger of the Corporation with
one or more corporations shall not be deemed to be a liquidation, dissolution or
winding up, voluntary or involuntary.

         (b)  Subject to the rights of the holders of shares of any series or
class or classes of Parity Stock or Senior Stock, upon any liquidation,
dissolution or winding up of the Corporation, after payment shall have been made
in full to the holders of the Series D Preferred Stock as provided in this
Section 6, but not prior thereto any other series or class or classes of Junior
Stock shall, subject to the respective terms and provisions (if any) applying
thereto, be entitled to receive any and all assets remaining to be paid or
distributed, and the holders of the Series D Preferred Stock shall not be
entitled to share therein.

         Section 7.     REDEMPTION.

         (a)  MANDATORY FIVE YEAR REDEMPTION.  Unless redeemed pursuant to
Section 7(b) and 7(c), prior to June 16, 1999, the Corporation shall, on such
date and to and to the extent the Corporation has funds legally available
therefor, redeem all shares of Series D Preferred Stock then outstanding at a
redemption price per share equal to the Stated Value, together with accrued and
unpaid dividends thereon to (and including) such redemption date, without
interest.

         (b)  MANDATORY REDEMPTION EVENTS.  (i) Concurrent with the
consummation of an IPO having net proceeds to the Corporation less than or equal
to $40,000,000, the Corporation shall, to the extent the Corporation has funds
legally available therefor, redeem the LESSER of (A) the number of shares of
Series D Preferred Stock then outstanding and (B) that number of shares of
Series D


                                         -5-

<PAGE>

Preferred Stock having an aggregate Stated Value and accrued and unpaid
dividends equal to (1) $17,435,897 or (2) in the event that any shares of the
Series E Preferred Stock are issued and outstanding on the date of the closing
of the IPO, $17,179,487, at a redemption price per share equal to the Stated
Value, together with accrued and unpaid dividends thereon to (and including)
such redemption date, without interest, employing a Dividend Rate of 8.0% on the
portion to be so redeemed for the period from the date of the consummation of
such IPO to (and including) such redemption date; PROVIDED, HOWEVER, that to
the extent that the Corporation after giving effect to any required payments
under the Loan Agreement (as defined in Section 9) from the net proceeds of the
IPO would not have sufficient funds available to so redeem shares of Series D
Preferred Stock in accordance with this subsection (b)(i) and any Parity Stock
entitled to redemption in accordance with the terms of such Parity Stock, the
Corporation shall redeem concurrent with the closing of the IPO that number of
shares of Series D Preferred Stock and any Parity Stock entitled to redemption
having an aggregate Stated Value equal to the balance of the net proceeds of the
IPO remaining after any such payments under the Loan Agreement and shall redeem
the remaining shares of Series D Preferred Stock to be redeemed pursuant to this
subsection (b)(i) within 120 calendar days after the consummation of the IPO;
PROVIDED, FURTHER, that to the extent that all shares of Series D Preferred
Stock to be redeemed pursuant to this subsection (b)(i) have not been redeemed
within such 120 calendar day period, the Corporation shall; to the extent the
Corporation has funds legally available therefor, redeem all shares of Series D
Preferred Stock then outstanding at a redemption price per share equal to the
Stated Value, together with accrued and unpaid dividends thereon to (and
including) such redemption date, without interest, employing a Dividend Rate of
8.0% for the period from the date of the closing of the IPO to (and including)
such redemption date.

              (ii)  Concurrent with the closing of an IPO having net proceeds
to the Corporation in excess of $40,000,000, the Corporation shall, to the
extent the Corporation has funds legally available therefor, redeem the LESSER
of (1) the number of shares of Series D Preferred Stock then outstanding and (2)
the number of shares of Series D Preferred Stock having an aggregate Stated
Value and accrued and unpaid dividends at least equal to (I) 43.59% of the net
proceeds to the Corporation, from the IPO or (II) in the event that any shares
of the Series E Preferred Stock are issued and outstanding on the date of the
consummation of the IPO, 42.95% of the proceeds to the Corporation from the IPO,
at a redemption price per share equal to the Stated Value, together with accrued
and unpaid dividends thereon to (and including) such redemption date, without
interest, employing a Dividend Rate of 8.0% for the period from the date of the
closing of such IPO to (and including) such redemption date; PROVIDED, HOWEVER,
that to the extent that the Corporation after giving effect to any required
payments under the Loan Agreement would not have sufficient funds available 
to so redeem shares of Series D Preferred Stock in accordance with this
Subsection (b)(ii) and any Parity Stock entitled to redemption in accordance
with  the terms of such Parity Stock, the Corporation shall redeem concurrent
with the consummation of the IPO that number of shares of Series D Preferred
Stock and any Parity Stock entitled to redemption having an aggregate Stated
Value equal to the balance of the net proceeds of the IPO remaining after any
such payments under the Loan Agreement and shall redeem the remaining shares of
Series D Preferred Stock to be redeemed pursuant to this subsection (b)(ii) and
any Parity Stock entitled to redemption within 90 calendar days after the
consummation of the IPO; PROVIDED, FURTHER, that to the extent the shares of


                                         -6-
<PAGE>

the Series D Preferred Stock to be redeemed pursuant to this subsection (b)(ii)
having an aggregate Stated Value and accrued and unpaid dividends of at least
(1) $17,435,897 or (2) in the event that any shares of the Series E Preferred
Stock are issued and outstanding on the date of the closing of the IPO,
$17,179,487, have not been redeemed within such 90 calendar day period, the
Corporation shall, to the extent the Corporation has funds legally available
therefore redeem all shares of Series D Preferred Stock then outstanding at a
redemption price per share equal to the Stated Value, together with accrued and
unpaid dividends thereon to (and including) such redemption date, without
interest, employing a Dividend Rate of 8.0% for the period from the date of the
consummation of the IPO to (and including) such redemption date and; PROVIDED,
FURTHER, to the extent that the Corporation has redeemed shares of the Series D
Preferred Stock to be redeemed pursuant to this subsection (b)(ii) having an
aggregate Stated Value and accrued and unpaid dividends of at least (1)
$17,435,897 or (2) in the event that any shares of the Series E Preferred Stock
are issued and outstanding on the date of the closing of the IPO, $17,179,487,
but less than the full amount of shares of Series D Preferred Stock required by
this subsection (b)(ii), the Corporation shall on June 15, 1998, to the extent
the Corporation has funds legally available therefor, redeem all shares of
Series D Preferred Stock then outstanding at a redemption price per share equal
to the Stated Value, together with accrued and unpaid dividends thereon to (and
including) such redemption date, without interest.

              (iii)  In the event that the Corporation fails to use at least
(1) 43.59% of the net proceeds received by the Corporation from any Subsequent
Offering (as defined in Section 9) or (2) in the event that any shares of the
series B Preferred Stock are issued and outstanding on the date of the closing
of such Subsequent Offering, 42.95% of such proceeds, to redeem any outstanding
shares of Series D Preferred Stock on date of the consummation of such
Subsequent Offering, the Series D Preferred Stock shall be subject to
redemption, in whole or in part, in cash, as determined by the holders of a
majority of the outstanding shares of the Series C Preferred Stock at a
redemption price per share equal to the Stated Value, to ether with accrued and
unpaid dividends thereon to (and including) the redemption date, without
interest.  On the redemption date, the Corporation shall redeem all shares of
Series D Preferred Stock tendered for redemption pursuant to this subsection
(b)(iii).

         (c)  REDEMPTION IN THE EVENT OF ACCELERATION OF INDEBTEDNESS.  In the
event that the Corporation or any Subsidiary shall fail to perform or observe
any term, covenant or condition related to any Indebtedness (as defined in
Section 9) of the Corporation or any Subsidiary (other than any Indebtedness of
Phone Base Systems, Inc. ("Phone Base") which is non-recourse to the Corporation
or any Subsidiary, other than Phone Base) and the effect of such failure to
perform or observe is (i) a failure by the Corporation or any Subsidiary to pay
any principal or interest on any Indebtedness when due or during any applicable
grace therefor or (ii) receipt of notice by the Corporation or any Subsidiary of
the acceleration of the maturity or required prepayment (other than by a
regularly scheduled required prepayment) prior to the stated maturity of any
Indebtedness and demand payment with respect thereto, in either case with
respect to Indebtedness in an aggregate amount in excess of $500,000 (the
"Accelerated Redemption Date"), the Series D Preferred Stock shall be subject to
redemption, in whole or in part, in cash, as determined by the holders of a
majority of the outstanding shares of the Series C Preferred Stock after the
Accelerated Redemption Date at


                                         -7-

<PAGE>

a redemption price per share equal to the Stated Value, together with accrued
and unpaid dividends thereon to (and including) the redemption date, without
interest.  On the redemption date, the Corporation shall redeem all shares 
of Series D Preferred Stock tendered for redemption pursuant to this 
subsection (c).

         (d)  REDEMPTION IN THE EVENT OF CERTAIN BUSINESS COMBINATIONS.  For 
so long as White River or any of its Affiliates shall own any shares of 
Series D Preferred Stock (A) neither the Corporation nor any of its Material 
Subsidiaries (as defined in Section 9) shall engage in any merger, 
reorganization or consolidation (other than transactions involving the 
merger, reorganization or consolidation of a Subsidiary of the Corporation 
with or into the Corporation or with or into a wholly owned Subsidiary of the 
Corporation) and (B) the Corporation shall not sell or otherwise transfer, in 
a single transaction or series of transactions, all or substantially all or a 
material part of the assets or shares of the Common Stock of the Corporation 
to or with any Person (as defined in Section 9) other than in connection with 
the sale of the Faneuil Group or to or with the Corporation or a wholly owned 
Subsidiary of the Corporation unless on or prior to the consummation of the 
transactions described in clauses (A) and (B) all shares of the Series D 
Preferred Stock shall have been redeemed at a redemption price per share 
equal to the Stated Value, together with accrued and unpaid dividends thereon 
to (and including) such redemption date, without interest.

         (e)  RIGHTS OF SERIES D PREFERRED STOCK FOLLOWING REDEMPTION.  On and
after any date fixed for redemption, PROVIDED THAT the redemption price
(including any accrued and unpaid dividends to (and including) the date fixed
for redemption) has been duly paid or segregated and hold in trust by a duly
authorized independent paying agent for the benefit of the Persons entitled
thereto, dividends shall cease to accrue on the Series D Preferred Stock called
for redemption, such shares shall no longer be deemed to be outstanding and all
rights of the holders of such shares as stockholders of the Corporation shall
cease and the right to receive the moneys payable upon such redemption, without
interest thereon, upon surrender of the certificates evidencing such shares.

         (f)  NOTICE OF REDEMPTION.  Notice of any redemption pursuant to
Section 7(a) shall be given to the holders of shares of Series D Preferred Stock
not less than 30 nor more than 60 days prior to the date fixed for redemption. 
Notice of redemption shall be given by first class mail to such holders,
respective addresses as shown on the stock books of the Corporation and will
specify (A) the date fixed for redemption, (B) the applicable redemption price
and (C) in the case of a partial redemption, the number of shares of Series D
Preferred Stock to be redeemed and the aggregate number of shares of Series D
Preferred Stock which will be outstanding after such redemption.  If less than
all shares of Series D Preferred Stock then outstanding are to be redeemed, the
shares of Series D Preferred Stock will be redeemed pro rata from among the
holders of shares of Series D Preferred Stock then outstanding.

         (g)  FINAL REDEMPTION OBLIGATION.  If the Corporation shall fail at
any time to discharge its obligation to redeem shares of Series D Preferred
Stock pursuant to this Section 7 (the "Final Redemption Obligation"), such Final
Redemption obligation shall be discharged as soon as the 


                                         -8-
<PAGE>

Corporation is able to discharge such Final Redemption Obligation using funds 
legally available therefore.

         (h)  REDEMPTION OF PARITY STOCK PRO-RATA. If upon the occurrence of 
any event requiring redemption of the shares of Series D Preferred Stock 
pursuant to this Section 7, the assets of the Corporation, or proceeds 
thereof, shall be insufficient to redeem in full the applicable amount of 
Series D Preferred Stock and any Parity Stock required to be redeemed by the 
Corporation, then the Corporation shall redeem shares of Series D Preferred 
Stock and any Parity Stock ratably in accordance with the respective amounts 
which would be redeemable if the Series D Preferred Stock and the Parity 
Stock required to be redeemed by the Corporation were redeemed in full.

          Section 8.  CERTAIN COVENANTS. Any registered holder of the Series 
D Preferred Stock may proceed to protect and enforce its rights and the 
rights of such holders by any available remedy by proceeding at law or in 
equity to protect and enforce any additional rights, whether for the specific 
enforcement of any provision or in aid of the exercise of any power granted 
herein, or to enforce any other proper remedy.

         Section 9.  DEFINITIONS. For the purposes of this Certificate of 
Designations of Series D Redeemable Preferred Stock, the following terms 
shall have the meanings indicated:

         "Affiliate" means a Person that directly, or indirectly through one 
or more intermediaries, controls, or is, controlled by, or is under common 
control with, another Person.

         "Business Day" means any day other than a Saturday, Sunday or a day 
on which banking institutions in the State of New York are authorized or 
obligated by law or executive order to close.

         "Capital Lease" means any lease of any property (whether real, 
personal or mixed) by the Corporation or any of the Subsidiaries as lessee 
which, in conformity with generally accepted accounting principles, is 
accounted for as a capital lease on the balance sheet of the Corporation or 
any of the Subsidiaries; PROVIDED, HOWEVER, any such lease which is 
nonrecourse to the Corporation or any of the Subsidiaries shall not 
constitute a Capital Lease.

         "Common Stock Equivalents" means all options, warrants and other 
rights to acquire Common Stock or securities convertible into or exchangeable 
for Common Stock.

         "Contingent Obligation" means any contractual obligation, contingent 
or otherwise, of one Person with respect to any Indebtedness, obligation or 
liability of another, including, without limitation, direct or indirect 
guaranties, endorsements (except for collection or deposit in the ordinary 
course of business), notes co-made or discounted, recourse agreements, 
keep-well agreements, agreements to purchase or repurchase such Indebtedness, 
obligation or liability or any security therefor or to provide funds for the 
payment of discharge thereof, agreements to maintain solvency,


                                        -9-
<PAGE>

assets, level of income, or other financial condition, and agreements to make 
payment other than for value received.

         "Faneuil Group" means GIS Information Systems, Inc., an Illinois 
corporation, Equitel Corp., a Virginia corporation, Original Research II 
Corporation, a Delaware corporation, and Credit Card Service Corporation, a 
Delaware corporation, collectively.

         "Indebtedness" means, with respect to the Corporation or any of the 
Subsidiaries, at any time, (a) all indebtedness, obligations or other 
liabilities of the Corporation or any of the Subsidiaries (i) for borrowed 
money or evidenced by debt securities, debentures, acceptances, notes or 
other similar instruments, (ii) with respect to letters of credit issued for 
the Corporation's or any of the Subsidiaries, account, (iii) in respect of 
Capital Leases and (iv) which are Contingent Obligations, (b) all 
indebtedness, obligations or other liabilities of the Corporation or any of 
the Subsidiaries or others secured by a Lien on any property of the 
Corporation or any of the Subsidiaries whether or not such indebtedness, 
obligations or liabilities are assumed by the Corporation or any of the 
subsidiaries, all as of such time, (a) all indebtedness, obligations or other 
liabilities of the Corporation or any of the subsidiaries in respect of 
Interest Rate Contracts and currency hedging agreements, net of liabilities 
owed to the Corporation or any of the Subsidiaries by the counterparties 
thereon, and (d) all preferred stock subject (upon the occurrence of any 
contingency or otherwise) to mandatory redemption, other than Series C 
Preferred Stock, Series D Preferred Stock and Series B Preferred Stock.

         "Interest Rate Contracts" means interest rate exchange, collar or 
cap or similar agreements providing interest rate protection.

         "IPO" means the initial public offering of Common Stock on a firm 
commitment basis pursuant to an effective registration statement under the 
Securities Act.

         "Lien" means any mortgage, deed of trust, pledge, security interest, 
encumbrance, lien or charge of any kind (including any agreement to give any 
of the foregoing, any conditional sale or other title retention agreement, 
any lease in the nature thereof, and the filing of or agreement to give any 
financing statement under the Uniform Commercial Code of any jurisdiction in 
connection with any of the foregoing).

         "Loan Agreement" means (i) the Loan Agreement, dated as of April 29, 
1994, among CCC Information Services Inc. and CCC Development Company, as 
Borrowers, the financial institutions party thereto, as Lenders and Canadian 
Imperial Bank of Commerce, as Agent; (ii) the Security Agreement, dated as of 
April 29, 1994, among CCC Information Services Inc., Canadian Imperial Bank 
of Commerce, as Agent and Canadian Imperial Bank of Commerce, as Collateral 
Agent, (iii) the Guaranty, dated as of April 29, 1994, made by the 
Corporation in favor of the Lenders party to the Loan Agreement and Canadian 
Imperial Bank of Commerce, as Agent, (iv) the Pledge and Security Agreement, 
dated as of April 29, 1994 among the Corporation, Canadian Imperial Bank


                                        -10-
<PAGE>

of Commerce, as Agent and Canadian Imperial Bank of Commerce, as Collateral 
Agent and (v) each other agreement, document or instrument delivered in 
connection with the foregoing.

         "Material Subsidiary" means any Subsidiary which produces or 
represents 20%, or more of (i) consolidated net assets of the Corporation, 
(ii) consolidated gross revenues of the Corporation or (iii) consolidated net 
income of the Corporation.

         "Person" meant an individual or a corporation, partnership, trust, 
incorporated or unincorporated association, joint venture, joint stock 
company or any other entity or organization, including a government or 
political subdivision or agency or instrumentality thereof.

         "Public Offering" means a sale of any of the Corporation's 
securities pursuant to an effective registration statement under the 
Securities Act.

         "Securities Act" means the Securities Act of 1933, as amended.

         "Subsequent Offering" means a sale of Common Stock or any Common 
Stock Equivalent of the Corporation in a Public Offering after an IPO.

         "Subsidiary" means (i) any Person of which 50% or more of the 
securities having ordinary voting power for the election of directors are at 
the time owned directly or indirectly by the Corporation or any Subsidiary 
thereof, (ii) any person of which 50% or more of the joint venture, limited 
partnership or partnership interests are at the time owned directly or 
indirectly by the Corporation or any Subsidiary thereof or (iii) any Person 
which is a limited partnership in which the Corporation or any Subsidiary is 
at the time the general partner or at the time owns 50% or more of the 
general partner of such Person.


                                        -11-
<PAGE>

                           CERTIFICATE OF DESIGNATIONS

                                        of

                 SERIES E CUMULATIVE REDEEMABLE PREFERRED STOCK

                                        of

                       CCC INFORMATION SERVICES GROUP INC.

                         (Pursuant to Section 151 of the
                         Delaware General Corporation Law)

                                   ____________


        Section 1.  DESIGNATION AND AMOUNT. The shares of such series shall 
be designated as Series E Cumulative Redeemable Preferred Stock (the "Series 
E Preferred Stock") and the number of shares constituting the Series E 
Preferred Stock shall be 500 shares. The stated value of each share of Series 
E Preferred Stock (the "Stated Value") shall be $1,000. The Series E 
Preferred Stock shall rank prior to the common stock, par value $0.10 per 
share (the "Common Stock"), and any other capital stock of the Corporation 
which by its terms is junior to the Series E Preferred Stock with respect to 
dividend rights and with respect to the distribution of assets upon 
liquidation, dissolution or winding up, whether voluntary or involuntary, of 
the Corporation ("Junior Stock") and on a parity with the Corporation's 
Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred 
Stock"), Series D Cumulative Redeemable Preferred Stock (the "Series D 
Preferred Stock") and any other capital stock subsequently issued by the 
Corporation which by its terms is on a parity with the Series E Preferred 
Stock with respect to dividend rights and with respect to the distribution of 
assets upon the liquidation, dissolution or winding up, whether voluntary or 
involuntary, of the Corporation ("Parity Stock").

         Section 2.  DIVIDENDS. (a)GENERAL. Commencing on the first Dividend 
Payment Date (as defined below) to occur following the fourth anniversary of 
the Original Issue Date (the "Dividend Rate Adjustment Date"), the holders of 
shares of the Series E Preferred Stock shall be entitled to receive cash 
dividends, when and as declared by the Board of Directors or by a duly 
authorized committee of said Board of Directors, out of assets legally 
available for such purpose, at the Dividend Rate set forth below in Section 3 
applied to the Stated Value. Such dividends shall be cumulative from the date 
of original issue of such shares (the "Original Issue Date"), whether or not 
there shall have been net profits or net assets of the Corporation legally 
available for the payment of

<PAGE>

dividends at the time such dividends were payable, and shall be payable 
quarterly, when and as declared by the Board of Directors of the Corporation 
or by a duly authorized committee of said Board of Directors, on November 30, 
February 28, May 31 and August 31 of each year (each such date being 
hereinafter referred to as a "Dividend Payment Date"), commencing on the 
Dividend Rate Adjustment Date; PROVIDED, HOWEVER, in the event the 
Corporation shall fail to redeem shares of the Series E Preferred Stock in 
accordance with Section 7(b)(ii), dividends shall be payable commencing on 
the first Dividend Payment Date following the 90th day after the consummation 
of the IPO (as defined in Section 9). Each such dividend shall be payable to 
the holders of record of shares of the Series E Preferred Stock as they 
appear on the stock register of the Corporation on such record date, not more 
than 60 days preceding the payment date thereof, as shall be fixed by the 
Board of Directors or by a duly authorized committee of said Board of 
Directors, PROVIDED THAT such record date shall not precede the date upon 
which the resolution fixing the record date is adopted. Dividends on account 
of arrears for any past Dividend Periods (as defined in subsection (b) of 
this Section 2) may be declared and paid at any time, without reference to 
any regular Dividend Payment Date, to holders of record on such record date, 
not exceeding 60 days preceding the payment date thereof, as may be fixed by 
the Board of Directors or a duly authorized committee of said Board of 
Directors.

         (b)  DIVIDEND PERIODS. Dividend periods (hereinafter called 
"Dividend Periods") shall commence on December 1, March 1, June 1 and 
September 1 of each year and shall end on and include the calendar day next 
preceding the first day of the next Dividend Period (other than the initial 
Dividend Period which shall commence on the Original Issue Date and shall end 
on and include the Dividend Rate Adjustment Date). The amount of dividends 
payable for each Dividend Period or portion thereof for the Series E 
Preferred Stock shall be computed by multiplying the Stated Value by a 
fraction, (i) the numerator of which is (A) the applicable Dividend Rate 
multiplied by (B) the number of calendar days elapsed during such Dividend 
Period or portion thereof and (ii) the denominator of which is 365. If more 
than one Dividend Rate applies to any Dividend Period or portion thereof, the 
calculation in the preceding sentence shall be applied for each period of 
time during which a given Dividend Rate is applicable. The dividend payable 
to each holder of Series E Preferred Stock shall be rounded to the nearest 
one cent with $.005 being rounded upward.

         (c)  DIVIDENDS ON PARITY STOCK. So long as any shares of the Series 
E Preferred Stock are outstanding, no full dividends shall be declared on any 
Parity Stock for any period unless full cumulative dividends have been or 
contemporaneously are declared on the Series E Preferred Stock for all 
Dividend Periods terminating on or prior to the date of payment of such full 
cumulative dividends. When dividends are not declared to be paid in full, as 
described above, upon the shares of the Series E Preferred Stock and any 
Parity Stock, all dividends declared upon shares of the Series E Preferred 
Stock and any Parity Stock shall be declared pro rata so that the amount of 
dividends declared per share on the Series E Preferred Stock and such Parity 
Stock shall in all cases bear to each other the same ratio that accrued 
dividends per share on the shares of the Series E Preferred Stock and such 
Parity Stock of the Corporation bear to each other.

         (d)  DIVIDENDS ON JUNIOR STOCK. So long as any shares of the Series 
E Preferred Stock are outstanding, no dividend (other than dividends or 
distributions paid in shares of, or options,


                                        -2-
<PAGE>

warrants or rights to subscribe for or purchase shares of Junior Stock) shall 
be declared or paid or set aside for payment or other distribution declared 
or made upon any Junior Stock, or upon any Parity Stock except as provided in 
subsection (c) of this Section 2, nor shall any Junior Stock or Parity Stock 
(other than the Series C Preferred Stock and the Series D Preferred Stock) be 
redeemed, purchased or otherwise acquired for any consideration (or any 
monies be paid to or made available for a sinking fund for the redemption of 
any shares of any such stock) by the Corporation (except by conversion into 
or exchange for Junior Stock).

         (e)  NO ADDITIONAL DIVIDENDS. Holders of shares of the Series E 
Preferred Stock shall not be entitled to any dividends, whether payable in 
cash, property or stock, in excess of full cumulative dividends, as herein 
provided, on the Series E Preferred Stock. No interest, or sum of money in 
lieu of interest, shall be payable in respect to any dividend payment or 
payments on the Series E Preferred Stock.

         Section 3.  DIVIDEND RATE. The Dividend Rate on the shares of Series 
E Preferred Stock shall be 2.75% per annum for the period from the Original 
Issue Date to and including the EARLIER of the (i) date of the consummation 
of the IPO or (ii) the Dividend Rate Adjustment Date and shall be 8.0% per 
annum for each Dividend Period or portion thereof thereafter occurring, 
subject to adjustment as follows:

         (a)  If the Corporation completes an IPO prior to the Dividend Rate 
Adjustment Date and redeems the Series E Preferred Stock, in accordance with 
the terms set forth in Section 7(b)(i) or (b)(ii), then the Dividend Rate 
shall be 0% per annum from the date of consummation of the IPO to the 
Dividend Rate Adjustment Date.

         (b)  If, prior to the date for mandatory redemption of all 
outstanding shares of Series E Preferred Stock established pursuant to Section 
7(a), 7(b)(i) or 7(b)(ii), the Corporation offers in good faith to repurchase 
on a pro rata basis all or a portion of the outstanding shares of each of the 
Series C Preferred Stock, the Series D Preferred Stock and the Series E 
Preferred Stock at a repurchase price per share equal to at least the Stated 
Value, together with accrued and unpaid dividends thereon to (and including) 
the date fixed for such repurchase, the Dividend Rate applicable to the 
shares of Series E Preferred Stock which the Corporation offered to 
repurchase and which the holders thereof refused such offer to repurchase 
shall, after the date fixed for such repurchase of the Series E Preferred 
Stock, be the LESSER of 1% and any Dividend Rate calculated pursuant to 
subsection (a) of this Section 3.

          Section 4.  VOTING RIGHTS. In addition to any voting rights 
provided by law, the holders of shares of the Series E Preferred Stock shall 
have the following voting rights:

          (a)  So long as any shares of the Series E Preferred Stock are 
outstanding, each share of Series E Preferred Stock beneficially owned by 
White River Ventures, Inc., a Delaware corporation ("White River") or any 
Affiliate thereof, shall entitle the holder thereof to vote together with the 
holders of Common Stock and all other securities entitled to vote on all 
matters voted on


                                       -3-
<PAGE>

by holders of Common Stock at all meetings of the stockholders of the 
Corporation. With respect to any such vote, each share of Series E Preferred 
Stock beneficially owned by White River or any Affiliate thereof shall 
entitle the holder thereof to cast the number of votes determined pursuant to 
the following formula:

                             Votes per share = A/B

                                     and

                         A = [(C-(C*D))/(1-(E+D))] - C

                               and

                               E = (B/F * .51) - G

                                      and

                           G = [(B/F * .51) + D] - .51

Where:

A is equal to: The total number of votes the Series E Preferred Stock may 
               exercise in any vote with the Common Stock.

B is equal to: The number of shares of Series E Preferred Stock beneficially 
               owned by White River and its Affiliates on a particular record 
               date.

C is equal to: The total number of shares of Common Stock outstanding on a 
               particular record date.

D is equal to: The percentage (expressed as a fraction) of the Corporation's 
               outstanding shares of Common Stock beneficially owned by White 
               River and its Affiliates on a particular record date.

E is equal to: The percentage (expressed as a fraction which cannot be 
               greater than .51 or less than 0) of the Company's total voting 
               power attributable to the aggregate number of shares of the 
               Series E Preferred Stock beneficially owned by White River and 
               its Affiliates on a particular record date; PROVIDED, HOWEVER, 
               such voting percentage shall automatically be 0% if White River
               together with its Affiliates already beneficially owns at least 
               51% of the outstanding shares of Common Stock on such record 
               date.

F is equal to: The total number of shares of Series E Preferred Stock 
               originally issued.


                                       -4-
<PAGE>

G is equal to: The automatic voting reduction percentage (expressed as a 
               fraction which cannot be less than 0) necessary if White River 
               an its Affiliates beneficially own shares of Common Stock.

               (b)  In addition to any class votes required by law, the 
affirmative vote of the holders of at least 66-2/3% of the outstanding shares 
of the Series E Preferred Stock, voting separately as a class, in person or 
by proxy, at a special or annual meeting of stockholders called for the 
purpose, shall be necessary to (i) authorize, create, increase the authorized 
or issued number of shares of, or issue (including on conversion or exchange 
of any convertible or exchangeable securities or by reclassification), any 
shares of any class or classes or series of Parity Stock or the Corporation's 
capital stock having rights senior to or on a parity with the Series E 
Preferred Stock with respect to dividend rights and with respect to the 
distribution of assets upon the liquidation, dissolution or winding up, 
whether voluntary or involuntary, or the Corporation ("Senior Stock") or 
(ii) amend, alter or repeal (whether by merger, consolidation or otherwise) any 
of the provisions of the Certificate of Incorporation of the Corporation or 
the Certificate of Designations of the Series E Preferred Stock which would 
materially and adversely affect any right, preference, privilege or voting 
power of the Series E Preferred Stock or the holders thereof; PROVIDED, 
HOWEVER, that the creation and issuance of any Junior Stock, shall not be 
deemed to materially and adversely affect such rights, preferences or voting 
powers.  For the taking of any action as provided in this paragraph (b) by the 
holders of shares of the Series E Preferred Stock, each such holder shall have 
one vote for each share of Series E Preferred Stock standing in his or her 
name on the transfer books of the Corporation as of any record date fixed for 
such purpose or, if no such date has been fixed, at the close of business on 
the Business Day (as defined in Section 9) next preceding the day on which 
notice is given, or if notice is waived, at the close of business on the 
Business Day next preceding the day on which the meeting is held.  At each 
meeting of stockholders at which the holders of shares of the Series E 
Preferred Stock shall have the right, voting separately as a single class, to 
take any action pursuant to this paragraph (b), the presence in person or by 
proxy of the holders of record of 50% of the total number of shares of the 
Series E Preferred Stock then outstanding and entitled to vote on the matter 
shall be necessary and sufficient to constitute a quorum.  At any such meeting 
or at any adjournment thereof, (i) the absence of a quorum of the holders of 
shares of any other class or series of capital stock of the Corporation shall 
not prevent the taking of any action as provided in this paragraph (b) and 
(ii) in the absence of a quorum of the holders of shares of the Series E 
Preferred Stock, the holders of a majority of such shares present in person or 
by proxy shall have the power to adjourn the meeting as to the actions to be 
taken by the holders of shares of the Series E Preferred Stock from time to 
time and place to place without notice other than announcement at the meeting 
until a quorum shall be present.

               (c)  The foregoing rights of holders of shares of the Series E 
Preferred Stock to take any actions as provided in this Section 4 may be 
exercised at any annual meeting of stockholders or at a special meeting of 
stockholders held for such purpose or at any adjournment thereof, or by the 
written consent, delivered to the Secretary of the Corporation, of the holders 
of the minimum number of shares required to take such action.


                                     -5-


<PAGE>

          Section 5.   REACQUIRED SHARES. Any shares of Series E Preferred 
Stock redeemed, purchased or otherwise acquired by the Corporation in any 
manner whatsoever shall be retired and canceled promptly after the 
acquisition thereof. All such shares shall upon their cancellation become 
authorized but unissued shares of preferred stock, par value $1.00 per share, 
of the Corporation and may be reissued as part of another series of preferred 
stock, par value $1.00 per share, of the Corporation subject to the 
conditions or restrictions on authorizing or creating any class or series, or 
any shares of any class or series as set forth herein.

          Section 6.   LIQUIDATION, DISSOLUTION, WINDING UP. (a) In the 
event of any liquidation, dissolution or winding up of the Corporation, whether 
voluntary or involuntary and subject to the rights of the holders of shares of 
any series or class or classes of Senior Stock, before any payment or 
distribution of the assets of the Corporation (whether capital or surplus) 
shall be made to or set apart for the holders of shares of any series or class 
or classes of Junior Stock, the holders of the shares of the Series E 
Preferred Stock shall be entitled to receive the Stated Value per share plus 
an amount equal to all dividends (whether or not earned or declared) accrued 
and unpaid thereon to the date of final distribution to such holders; but such 
holders shall not be entitled to any further payment. If, upon any 
liquidation, dissolution or winding up of the Corporation, the assets of the 
Corporation, or proceeds thereof, distributable among the holders of the 
shares of the Series E Preferred Stock shall be insufficient to pay in full the 
preferential amount aforesaid and liquidating payment on any Parity Stock, 
then such assets, or the proceeds thereof, shall be distributed among the 
holders of shares of Series E Preferred Stock and any Parity Stock ratably in 
accordance with the respective amounts which would be payable on such shares 
of Series E Preferred Stock and any Parity Stock if all amounts payable 
thereon were paid in full. For the purposes of this Section 6, a consolidation 
or merger of the Corporation with one or more corporations shall not be 
deemed to be a liquidation, dissolution or winding up, voluntary or 
involuntary.

          (b)   Subject to the rights of the holders of shares of any series 
or class or classes of Parity Stock or Senior Stock, upon any liquidation, 
dissolution or winding up of the Corporation, after payment shall have been 
made in full to the holders of the Series E Preferred Stock as provided in 
this Section 6, but not prior thereto, any other series or class or classes of 
Junior Stock shall, subject to the respective terms and provisions (if any) 
applying thereto, be entitled to receive any and all assets remaining to be 
paid or distributed, and the holders of the Series E Preferred Stock shall 
not be entitled to share therein.

          Section 7.   REDEMPTION.

          (a)   MANDATORY FIVE YEAR REDEMPTION. Unless redeemed pursuant to 
Sections 7(b), 7(c) and 7(d) prior to June 16, 1999, the Corporation shall, 
on such date and to the extent the Corporation has funds legally available 
therefor, redeem all shares of Series E Preferred Stock then outstanding at a 
redemption price per share equal to the Stated Value, together with accrued 
and unpaid dividends thereon to (and including) such redemption date, without 
interest.


                                      -6-

<PAGE>

          (b)   MANDATORY REDEMPTION EVENTS. (i) Concurrent with the 
consummation of an IPO having net proceeds to the Corporation less than or 
equal to $40,000,000, the Corporation shall, to the extent the Corporation 
has funds legally available therefor redeem the LESSER of (A) the number of 
shares of Series E Preferred Stock then outstanding and (B) that number of 
shares of Series E Preferred Stock having an aggregate Stated Value and 
accrued and unpaid dividends equal to $256,410 at a redemption price per 
share equal to the Stated Value, together with accrued and unpaid dividends 
thereon to (and including) such redemption date, without interest, employing 
a Dividend Rate of 8.0% on the portion to be so redeemed for the period from 
the date of the consummation of such IPO to (and including) such redemption 
date; PROVIDED, HOWEVER, that to the extent that the Corporation after making 
any required payments under the Loan Agreement (as defined in Section 9) from 
the net proceeds of the IPO shall not have sufficient funds available to so 
redeem shares of Series E Preferred Stock in accordance with this subsection 
(b)(i) and any Parity Stock entitled to redemption in accordance with the 
terms of such Parity Stock, the Corporation shall redeem concurrent with the 
consummation of the IPO that number of shares of Series E Preferred Stock and 
Parity Stock entitled to redemption having an aggregate Stated Value equal 
to the balance of the net proceeds of the IPO remaining after any such 
payments under the Loan Agreement and shall redeem the remaining shares of 
Series E Preferred Stock to be redeemed pursuant to this subsection (b)(i) 
and Parity Stock entitled to redemption within 120 calendar days after the 
consummation of the IPO; PROVIDED, FURTHER, that to the extent that all 
shares of Series E Preferred Stock to be redeemed pursuant to this subsection 
(b)(i) have not been redeemed within such 120 calendar day period, the 
Corporation shall, to the extent the Corporation has funds legally available 
therefor, redeem all shares of Series E Preferred Stock then outstanding at a 
redemption price per share equal to the Stated Value, together with accrued 
and unpaid dividends thereon to (and including) such redemption date, without 
interest, employing a Dividend Rate of 8.0% for the period from the date of 
the consummation of the IPO to (and including) such redemption date.

          (ii)   Concurrent with the consummation of an IPO having net 
proceeds to the Corporation in excess of $40,000,000, the Corporation shall, 
to the extent the Corporation has funds legally, available therefor, redeem 
the LESSER of (1) the number of shares of Series E Preferred Stock then 
outstanding and (2) the number of shares of Series E preferred Stock having 
an aggregate Stated Value and accrued and unpaid dividends at least equal to 
 .64% of the net proceeds to the Corporation from the IPO, at a redemption 
price per share equal to the Stated Value, together with accrued and unpaid 
dividends thereon to (and including) such redemption date, without interest, 
employing a Dividend Rate of 8.0% for the period from the date of the 
consummation of such IPO to (and including) such redemption date; PROVIDED, 
HOWEVER, that to the extent that the Corporation after giving effect to any 
required payments under the Loan Agreement would not have sufficient funds 
available to so redeem shares of Series E Preferred Stock in accordance with 
this subsection (b)(ii) and any Parity Stock entitled to redemption in 
accordance with the terms of such Parity Stock, the Corporation shall redeem 
concurrent with the consummation of the IPO that number of shares of Series E 
Preferred Stock and Parity Stock entitled to redemption having an aggregate 
stated value equal to the balance of the net proceeds of the IPO remaining
after any such payments under the Loan Agreement and shall redeem the 
remaining shares of Series E Preferred Stock to be redeemed pursuant to this 
subsection (b)(ii) and Parity Stock entitled to redemption within 90 calendar 
days


                                      -7-

<PAGE>

after the consummation of the IPO; PROVIDED, FURTHER, that to the extent that 
shares of the Series E Preferred Stock to be redeemed pursuant to this 
subsection (b)(ii) having an aggregate Stated Value and accrued and unpaid 
dividends of at least $256,410 have not been redeemed within such 90 calendar 
day period, the Corporation shall, to the extent the Corporation has funds 
legally available therefor redeem all shares of Series E Preferred Stock then 
outstanding at a redemption price per share equal to the Stated Value, 
together with accrued and unpaid dividends thereon to (and including) such 
redemption date, without interest, employing a Dividend Rate of 8.0% for the 
period from the date of the consummation of the IPO to (and including) such 
redemption date and; PROVIDED, FURTHER, to the extent that the Corporation 
has redeemed shares of the Series E Preferred Stock to be redeemed pursuant 
to this subsection (b)(ii) having an aggregate Stated Value and accrued and 
unpaid dividends of at least $256,410, but less than the full amount of 
shares of Series E Preferred Stock required by this subsection (b)(ii), the 
Corporation shall on June 15, 1998, to the extent the Corporation has funds 
legally available therefor, redeem all shares of Series E Preferred Stock 
then outstanding at a redemption price per share equal to the Stated Value 
together with accrued and unpaid dividends thereon to (and including) such 
redemption date, without interest.

          (iii)   In the event that the Corporation fails to use at least .64% 
of the net proceeds received by the Corporation from any Subsequent Offering 
(as defined in Section 9) to redeem any outstanding shares of Series E 
Preferred Stock on the date of the consummation of such Subsequent Offering, 
the Series E Preferred Stock shall be subject to redemption, in whole or in 
part, in cash, as determined by the holders of a majority of the outstanding 
shares of the Series C Preferred Stock at a redemption price per share equal 
to the Stated Value, together with accrued and unpaid dividends thereon to 
(and including) the redemption date, without interest. On the redemption date, 
the Corporation shall redeem all shares of Series E Preferred Stock tendered 
for redemption pursuant to this subsection (b)(iii).

          (c)   REDEMPTION IN THE EVENT OF ACCELERATION OF INDEBTEDNESS. In 
the event that the Corporation or any Subsidiary shall fail to perform or 
observe any term, covenant or condition related to any Indebtedness (as 
defined in Section 9) of the Corporation or any Subsidiary (other than any 
Indebtedness of Phone Bass Systems, Inc. ("Phone Base") which is non-recourse 
to the Corporation or any Subsidiary, other than Phone Base) and the effect 
of such failure to perform or observe is (i) a failure by the Corporation or 
any Subsidiary to pay any principal or interest on any Indebtedness when due 
or during any applicable grace period therefor or (ii) receipt of notice by 
the Corporation or any Subsidiary of the acceleration of the maturity or 
required prepayment (other than by a regularly scheduled required prepayment) 
prior to the stated maturity of any Indebtedness and demand for payment with 
respect therefor, in respect to Indebtedness in an aggregate amount in excess 
of $500,000 (the "Accelerated Redemption Date"), the Series E Preferred Stock 
shall be subject to redemption, in whole or in part, in cash, as determined 
by the holders of a majority of the outstanding shares of the Series C 
Preferred Stock after the Accelerated Redemption Date at a redemption price 
per share equal to the Stated Value, together with accrued and unpaid 
dividends thereon to (and including) the redemption date, without interest. 
On the redemption date, the Corporation shall redeem all shares of Series E 
Preferred Stock tendered for redemption pursuant to this subsection (c).


                                      -8-

<PAGE>

          (d)   REDEMPTION IN THE EVENT OF CERTAIN BUSINESS COMBINATION. For 
so long as White River or any of its Affiliates shall own any shares of 
Series E Preferred Stock (A) neither the Corporation nor its Material 
Subsidiaries (as defined in Section 9) shall engage in any merger, 
reorganization or consolidation (other than transactions involving the 
merger, reorganization or consolidation of a Subsidiary of the Corporation 
with or into the Corporation or with or into a wholly owned Subsidiary of the 
Corporation) and (B) the Corporation shall not sell or otherwise transfer, in 
a single transaction or series of transactions, all or substantially all or a 
material part of the assets or shares of the Common Sock of the Corporation 
to or with any Person (as defined in Section 9) other than in connection with 
the sale of the Faneuil Group or to or with the Corporation or a wholly owned 
Subsidiary of the Corporation unless on or prior to the consummation of the 
transactions described in clauses (A) and (B) all shares of the Series E 
Preferred Stock shall have been redeemed at a redemption price per share 
equal to the Stated Value, together with accrued and unpaid dividends thereon 
to (and including) such redemption date, without interest.

          (e)   RIGHTS OF SERIES E PREFERRED STOCK FOLLOWING REDEMPTION. On 
and after any date fixed for redemption, PROVIDED THAT the redemption price 
(including any accrued and unpaid dividends to (and including) the date fixed 
for redemption) has been duly paid or segregated and held in trust by a duly 
authorized independent paying agent for the benefit of the Persons entitled 
thereto, dividends shall cease to accrue on the Series E Preferred Stock 
called for redemption, such shares shall no longer be deemed to be 
outstanding and all rights of the holders of such shares as stockholders of 
the Corporation shall cease and the right to receive the moneys payable upon 
such redemption, without interest thereon, upon surrender of the certificates 
evidencing such shares.

          (f)  NOTICE OF ANY REDEMPTION. Notice of any redemption pursuant to 
Section 7(e) shall be given to the holders of shares of Series E Preferred 
Stock not less than 30 nor more than 60 days prior to the redemption. Notice 
of redemption shall be given by first class mail to such holders' respective 
addresses as shown on the stock books of the Corporation and will specify (A) 
the date fixed for redemption, (B) the applicable redemption price and (C) in 
the case of a partial redemption, the number of shares of Series E Preferred 
Stock to be redeemed and the aggregate number of shares of Series E Preferred 
Stock which will be outstanding after such redemption. If less than all 
shares of Series E Preferred Stock then outstanding are to be redeemed, the 
shares of Series E Preferred Stock will be redeemed pro rata from among the 
holders of shares of Series E Preferred Stock then outstanding.

          (g)   FINAL REDEMPTION OBLIGATIONS. If the Corporation shall fail 
at any time to discharge its obligation to redeem shares of Series E 
Preferred Stock pursuant to this Section 7 (the "Final Redemption 
Obligation"), such Final Redemption Obligation shall be discharged as soon as 
the Corporation is able to discharge such Final Redemption Obligation using 
funds legally available therefor.

          (h)   REDEMPTION OF PARITY STOCK PRO-RATA. If, upon the occurrence 
of any event requiring redemption of the shares of Series E Preferred Stock 
pursuant to this Section 7, the assets of the Corporation, or net proceeds 
thereof, shall be insufficient to redeem in full the applicable


                                      -9-

<PAGE>

amount of Series E Preferred Stock and any Parity Stock required to be 
redeemed by the Corporation, then the Corporation shall redeem shares of 
Series E Preferred Stock and any Parity Stock ratably in accordance with the 
respective amounts which would be redeemable if the Series E Preferred Stock 
and the Parity Stock required to be redeemed by the Corporation were redeemed 
in full.

     (i) REDEMPTION EXCEPTION.  Notwithstanding anything in this Certificate 
of Designation to the contrary, at least one share of the Series E Preferred 
Stock shall remain issued and outstanding until such time as no shares of the 
Series C Preferred Stock remain issued and outstanding.

     Section 8.  CERTAIN COVENANTS.  Any registered holder of the Series E 
Preferred Stock may proceed to protect and enforce its rights and the rights 
of such holders by any available remedy by proceeding at law or in equity to 
protect and enforce any such rights, whether for the specific enforcement of 
any provision or in aid of the exercise of any power granted herein, or to 
enforce any other proper remedy.

     Section 9.  DEFINITION.  For the purposes of this Certificate of 
Designations of Series E Redeemable Preferred Stock, the following terms 
shall have the meanings indicated:

     "Affiliate" means a Person that directly, or indirectly through one or 
more intermediaries, controls, or is controlled by, or is under common 
control with, another Person.

     "Business Day" means any day other than a Saturday, Sunday or a day on 
which banking institutions in the State of New York are authorized or 
obligated by law or executive order to close.

     "Capital Lease" means any lease of any property (whether real, personal 
or mixed) by the Corporation or any of the Subsidiaries as lessee which, in 
conformity with generally accepted accounting principles, is accounted for as 
a capital lease on the balance sheet of the Corporation or any of the 
Subsidiaries; PROVIDED, HOWEVER, any such lease which is nonrecourse to the 
Corporation or any of the Subsidiaries shall not constitute a Capital Lease.

     "Common Stock Equivalents" means all options, warrants and other rights 
to acquire Common Stock or securities convertible into or exchangeable for 
Common Stock.

     "Contingent Obligation" means any contractual obligation, contingent or 
otherwise, of one Person with respect to any Indebtedness, obligation or 
liability of another, including, without limitation; direct or indirect 
guaranties, endorsements (except for collection or deposit in the ordinary 
course of business), notes co-made or discounted, recourse agreements, 
keep-well agreements, agreements to purchase or repurchase such indebtedness, 
obligation or liability or any security therefor or to provide funds for the 
payment or discharge thereof, agreements to maintain solvency,

                                     -10-

<PAGE>

assets, level of income, or other financial condition, and agreements to make 
payment other than for value received.

     "Faneuil Group" means GIS Information Systems, Inc., an Illinois 
corporation, Equitel Corp., a Virginia corporation, Original Research II 
Corporation, a Delaware corporation, and Credit Card Service Corporation, a 
Delaware corporation, collectively.

     "Indebtedness" means, with respect to the Corporation or any of the 
Subsidiaries, at any time, (a) all indebtedness, obligations or other 
liabilities of the Corporation or any of the Subsidiaries (i) for borrowed 
money or evidenced by debt securities, debentures, acceptances, notes or 
other similar instruments, (ii) with respect to letters of credit issued for 
the Corporation's or any of the Subsidiaries' account, (iii) in respect of 
Capital Leases and (iv) which are contingent obligations, (b) all 
indebtedness, obligations or other liabilities of the Corporation or any of 
the Subsidiaries or others secured by a Lien on any property of the 
Corporation or any of the Subsidiaries, whether or not such indebtedness, 
obligations or liabilities are assumed by the Corporation or any of the 
Subsidiaries, all as of such time, (c) all indebtedness, obligations or other 
liabilities or the Corporation or any of its subsidiaries in respect of 
Interest Rate Contracts and currency hedging agreements, net of liabilities 
owed to the Corporation or any of the Subsidiaries by the counterparties 
thereon, and (d) all preferred stock subject (upon the occurrence of any 
contingency or otherwise) to mandatory redemption, other than the Series C 
Preferred Stock, Series D Preferred Stock and Series E Preferred Stock.

     "Interest Rate Contracts" means interest rate exchange, collar or cap or 
similar agreements providing interest rate protection.

     "IPO" means the initial public offering of Common Stock on a firm 
commitment basis pursuant to an effective registration statement under the 
Securities Act.

     "Lien" means any mortgage, deed of trust, pledge, security interest, 
encumbrancer lien or charge of any kind (including any agreement to give any 
of the foregoing, any conditional sale or other title retention agreement, 
any lease in the nature thereof, and the filling of or agreement to give any 
financing statement under the Uniform Commercial Code of any jurisdiction in 
connection with any of the foregoing).

     "Loan Agreement" means (i) the Loan Agreement, dated as of April 29, 
1994, among CCC Information Services Inc. and CCC Development Company, as 
Borrowers, the financial institutions party thereto, as Lenders and Canadian 
Imperial Bank of Commerce, as Agent, (ii) the Security Agreement, dated as of 
April 29, 1994, among CCC Information Services Inc., Canadian Imperial Bank 
of Commerce, as Agent and Canadian Imperial Bank of Commerce, as Collateral 
Agent, (iii) the Guaranty, dated as of April 29, 1994, made by the Corporation 
in favor of the Lenders party to the Loan Agreement and Canadian Imperial 
Bank of Commerce, as Agent, (iv) the Pledge and Security Agreement, dated as 
of April 29, 1994, among the Corporation, Canadian Imperial Bank

                                     -11-

<PAGE>

of Commerce, as Agent and Canadian Imperial Bank of Commerce, as Collateral 
Agent and (v) each other agreement, document or instrument delivered in 
connection with the foregoing.

     "Material Subsidiary" means any subsidiary which produces or represents 
20% or more of (i) consolidated net assets of the Corporation, (ii) 
consolidated gross revenues of the Corporation or (iii) consolidated net 
income of the Corporation.

     "Person" means an individual or a corporation, partnership, trust, 
incorporated or unincorporated association, joint venture, joint stock 
company or any other entity or organization, including a government or 
political subdivision or agency or instrumetality thereof.

     "Public Offering" means a sale of any of the Corporation's securities 
pursuant to an effective registration statement under the Securities Act.

     "Securities Act" means the Securities Act of 1933, as amended.

     "Subsequent Offering" means a sale of Common Stock or any Common Stock 
Equivalent of the Corporation in a Public Offering after an IPO.

     "Subsidiary" means (i) any Person of which 50% or more of the securities 
having ordinary voting power for the election of directors are at the time 
owned directly or indirectly by the Corporation or any Subsidiary thereof 
(ii) any Person of which 50% or more of the joint venture, limited 
partnership or partnership interests are at the time owned directly or 
indirectly by the Corporation or any Subsidiary thereof or (iii) any Person 
which is a limited partnership in which the Corporation or any Subsidiary in 
at the time the general partner or at the time owns 50% or more of the 
general partner of such Person.

                                     -12-