Auto Data Network Reports Corporate Profile Announcement Was Released in Error
TUNBRIDGE WELLS, U.K.--April 23, 2003--Auto Data Network Inc. (OTCBB:ADNW OB), a provider of real time data network serving the automotive sector reports that today's earlier announcement, regarding a corporate profile of Auto Data Network, had not been fully approved and was released in error.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).