Auto Data Network Announces Letter of Intent to Acquire E-Com Multi Ltd.

    TUNBRIDGE WELLS, UK--Jan. 24, 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 E-Com Multi Ltd. for an undisclosed amount in cash and stock.
    The terms of the acquisition are subject to a confidentiality agreement. The acquisition, the second announced by the Company this month, is expected to close in the next sixty days.
    Originally established as Autosell in 1997, Warwickshire-based E-Com Multi Ltd. collects and provides industry data from a large number of automotive dealers, finance houses and manufacturers. The company's current customers include: HSBC, GM Interleasing, SAAB, Volkswagen, Fiat, Deloitte & Touche, Honda GB, Godfrey Davis, Nissan, Mitsubishi and Lombard.
    Auto Data Network's CEO Chris Glover commented, "E-Com Multi will add to the core of ADN's network. Its strategic industry relationships will considerably enhance our Company's capabilities."

    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).