Auto Data Network Announces Letter of Intent to Acquire AutoMatrix Limited

    TUNBRIDGE WELLS, UK--March 1, 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 AutoMatrix (UK) Limited for an undisclosed amount in cash and stock.
    The terms of the acquisition are subject to a confidentiality agreement. The acquisition, the third announced by the Company, is expected to close in the next sixty days.
    Based in Hull, UK, AutoMatrix presents a revolutionary concept in selling new and used vehicles. It is a platform which overcomes high showroom costs and lack of consumer choice. It allows the consumer to build a car to their personal specification and then match this to manufacturers products. Vehicles can then be compared side by side and ordered immediately.
    Auto Data Network's CEO Chris Glover commented, "The acquisition of AutoMatrix will further diversify and broaden the range of ADN'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).