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1-800-AutoTow, Inc. Makes Announcement

3 November 2000

1-800-AutoTow, Inc. Makes Announcement

    BOYNTON BEACH, Fla.--Nov. 3, 2000--The Board of Directors elected Leonard D. Levin, age 64, as its Chief Executive Officer, effective immediately. In addition, Mr. Levin continues as Chief Executive Officer of National Auto Service Centers, Inc., in Clearwater, Florida. On October 27, 2000, Finova Capital Corporation, declared the Company's obligations to it in the original principal amount of $4,098,233 to be in default. The Company is exploring strategic alternatives.

    The statements herein that are not historical facts, including statements about future expectations, are "forward-looking statements" that are based on various assumptions. Certain risks and uncertainties could cause actual future results to differ materially from those stated. The Company assumes no obligation to update its forward-looking statements.