Autodaq and AutoTradeCenter Close Merger; New Company Poised for Explosive Product Growth

    MENLO PARK, Calif. and MESA, Ariz.--Oct. 16, 2002--Autodaq Corp. and AutoTradeCenter.com Inc. (OTC BB: AUTC) announced today the closing of the two companies' merger agreement signed in June. The merger was overwhelmingly approved at a special shareholder meeting of AutoTradeCenter.com held in Phoenix Oct. 4, 2002 and a separate special shareholder meeting of Autodaq Corp. The combined entity, AutoTradeCenter Inc., offers the most comprehensive set of upstream automotive remarketing services for manufacturers, leasing, rental and fleet companies as well as wholesalers and automobile retailers.
    Three members of AutoTradeCenter.com's current board of directors will join the new entity's board of directors and senior management of both entities will remain with the combined entity. Adam Boyden, president and chief executive officer of Autodaq, is the chairman of the board of the new entity, and Roger L. Butterwick, president of AutoTradeCenter.com, is the president. A complete listing of all officers can be found on the company's Web site. The merged entity will retain its administrative offices and technology group in Menlo Park, the Internet dealer services operation center in Mesa, and the remarketing management, lease maturity management and sales and leadership-training center in Minneapolis.
    In a separate action, the new board of directors approved the sale of the contemplated Preferred Series E financing up to $4 million. The company initially closed on $3 million and set the exercisable price of the warrants to be issued in connection with the financing at $0.01.
    "The merger closing of AutoTradeCenter and Autodaq is an exciting milestone for each company," commented Roger L. Butterwick, president. "With the legal complexities involved with the merger behind us, we are now focusing our efforts toward providing the most comprehensive set of upstream remarketing services for manufacturers, leasing, rental and fleet companies as well as wholesalers and automobile retailers. Within the next few months, we will be launching a plethora of new products and services designed to further streamline and enhance the upstream Internet vehicle remarketing process."
    AutoTradeCenter, Inc. (ATC) is a leading Internet-based "business-to-business" automotive remarketing company offering its services to automobile manufacturers, captive finance companies, lease and rental companies, and financial institutions across the United States. ATC powers operating successful remarketing programs for such companies as Audi, Honda, Hyundai, Isuzu, Suzuki, Volvo, Volkswagen, Enterprise Rent-a-Car, and several other banks and financial institutions. For more information on AutoTradeCenter Inc., please visit http://www.autotradecenter.com or contact Public Relations at lseegan@autotradecenter.com.

    Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.
    The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.