Auto Network USA to Change Name to Auto Network Group, Inc.
15 December 1998
Auto Network USA to Change Name to Auto Network Group, Inc.To Become Fully Reporting Issuer SCOTTSDALE, Ariz., Dec., 15 -- Auto Network USA (OTC Bulletin Board: ANWK) today announced a name change to Auto Network Group, Inc. The change will be effective no later than January 5, 1999. The trading symbol "ANWK" and CUSIP number will remain the same. In addition, Auto Network announced that the Company is preparing to fulfill the requirements to become a fully reporting company with the Securities Exchange Commission. Price Kong & Company have performed an independent audit of the Company's financial statements for filing with the Securities Exchange Commission and the legal services of Dill Dill Carr Stonebreaker & Hutchings have been retained to prepare all necessary, and mandatory SEC filings. CFO Mark Moldenhauer stated, "We feel this is one more step in our continued growth as a public company. By complying with the necessary SEC requirements, we are positioning ourselves to move from the Bulletin Board to NASDAQ." Auto Network USA is the fastest growing, publicly-held wholesaler of used late model and luxury automobiles in the country. The Company is capitalizing on the billion-dollar wholesale market by focusing operations in strategic segments of the country. Auto Network's strategy is to gain market share in key urban areas by acquiring and consolidating the independent automobile wholesaling companies. This strategy will provide the Company with access to a large and growing volume of high-quality late model and luxury automobiles. It will also allow Auto Network to take advantage of geographical disparities in the value of cars. For more information on Auto Network USA, please visit http://www.anwk.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's fillings with the Securities & Exchange Commission. CONTACT: Gerry Richards of M&A West, Inc. (Investor Relations), 650-588-2678, for Auto Network USA.