Catadyne Corp. Announces Name Change to Northeast Auto Acceptance Corp.

MERRICK, N.Y.--March 30, 2005--Catadyne Crop announced today that it has changed its name to Northeast Auto Acceptance CORP. (OTC: NAAC) to reflect it's recent acquisition of Northeast Auto Acceptance Corp. (Northeast) a private company focused on wholesale vehicle sales and distribution Northeast is a leader in this fragmented industry, has been in business for over 10 years and has offices in the New York Metropolitan area.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.