Auto Data Network Announces Letter of Intent to Acquire M.A.M Software Limited

    TUNBRIDGE WELLS, U.K.--Jan. 10, 2002--Auto Data Network Inc. (NASDAQ Bulletin Board:ADNW), provider of a regional, national and European real time data network serving the automotive sector, today announced a letter-of-intent to acquire M.A.M Software Limited, a developer and marketer of computer software products and services.
    M.A.M Software recorded revenues of approximately $11 million and net income of approximately $500,000 in 2001. The terms of the acquisition are subject to a confidentiality agreement. The acquisition is expected to close in the next sixty days.
    Auto Data Network's CEO Chris Glover commented, "We are extremely excited about this acquisition as there are considerable synergistic benefits for the rest of our group. This acquisition will create additional sales opportunities across the group. As we have previously stated Auto Data Network is consolidating fragmented software companies that service the auto industry. The addition of M.A.M to our group reflects the initial execution of that strategy."
    Based in Sheffield, U.K., M.A.M provides computer software products and services for auto parts and accessories dealers, re-sellers, workshops, auto repair shops and auto dealerships. Its software products include an electronic parts catalog and various communication and Internet-based products and services. Other services include the configuration, installation, training, support and maintenance of hardware, networks and telephones.
    Auto Data Network comprises a group of established, automotive companies providing real time data and transactional services to manufacturers, retailers and consumers thereby enabling industry-wide revenue generation, communication and information collection. Services are integrated onto a single transaction platform and data network. The platform propositions are integrated as a communications channel that allows all automotive sector participants to transact within a single environment, in which transactional data is added and modified on the network. This process creates a unique source of "Intelligent Information(TM)" that can be accessed by subscribing companies to analyze and react to changes in market conditions.

    This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC).