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AutoInfo, Inc. Announces Board Restructuring

21 January 1999

AutoInfo, Inc. Announces Board Restructuring

    MONTVALE, N.J.--Jan. 21, 1999--AutoInfo, Inc. (OTC BB:AUTO) today announced the expansion of its Board of Directors to include Charles A. Mills, III, Thomas C. Robertson and Peter C. Einselen.
    Messrs. Mills, Robertson and Einselen are the Chairman, President and Senior Vice President of Anderson and Strudwick and have joined the Board as the designees of the holders of the Company's subordinated debt. In addition, Mr. Robertson has been elected as the Chairman of the Board of Directors of AutoInfo, a position that had been vacant.
    The Company further announced that William Wunderlich, its Chief Financial Officer, has also been appointed President, effective immediately.
    Tom Robertson, Chairman of the Board of Directors, stated "The Board and management of AutoInfo are dedicated and focused on identifying and consummating a transaction that will create value for our shareholders. I look forward to participating in this process."
    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.