AutoFund Servicing Inc., AFSR, Has Gross Revenue of $2,830,000.00 for 2001; A 24% Increase Over the Same Period for 2000

    SAN ANTONIO--Jan. 23, 2002--AutoFund Servicing Inc. (OTCBB:AFSR) announces that the Board of Directors is having its annual audit completed.
    Our gross revenue (monies collected) for 2001 is over $2,830,000.00 and that's $500,000.00 more than last year, an increase of 24%.
    According to James Haggard, Chairman of the Board and President of AutoFund Servicing Inc., "With the $30 million dollar portfolio recently closed AutoFund is now collecting on $193 million dollars, representing 35,871 automobile accounts. Given the history of the company and what we now know, AutoFund will grow this year by more than 24%."
    "Although the servicing and acquisition of new portfolios is number one on our list, I have instructed management to began looking at ways to cut overhead and increase profit. After all, Mr. Haggard continues, AutoFund is a public company and I am the company's majority shareholder. Profit is a reflection of how well I am doing my job."
    ABOUT THE COMPANY: AutoFund Servicing Inc. is a third party collection and recovery service provider to auto loan finance companies. Our clients include banks, buy here pay here companies and auto finance companies that have bad debt accounts. These auto loan accounts have, for the most part, been written off or charged off by the company who provided the vehicle loan to the customer, and the debt is still owed by a customer whose vehicle may or may not have been repossessed. AutoFund Servicing aggressively seek accounts from these companies to process for recovery.
    AutoFund Servicing purchases large numbers of these accounts, at pennies on the dollar, from companies that wish to liquidate certain delinquent accounts from their portfolio. Then AutoFund through its large professional staff attempts to collect the moneys owed on these accounts. It also provides data storage services for clients and generates reports from this data for its clients.

    Certain statements about the Company's future expectations, including future revenues, earnings and transactions, as well as all other statements in the press release other than historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.