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AutoInfo, Inc. Announces Resignation of Scott Zecher

7 January 1999

AutoInfo, Inc. Announces Resignation of Scott Zecher

    MONTVALE, N.J.--January 7, 1999--AutoInfo, Inc. (OTC BB:AUTO) today announced that Scott Zecher has resigned as President and Chief Executive Officer to pursue other business opportunities. Mr. Zecher will remain on the Company's Board of Directors.
    Mr. Wunderlich, the Company's Chief Financial Officer, stated, "The Board and the management of AutoInfo are focused on identifying and consummating a transaction that will create value for our shareholders. Our assets include $2.3 Million in cash and a substantial net operating loss carryforward. With these assets and our resolve to rebuild the Company after a long restructuring period, I look forward to implementing this plan."

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.