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To: IPOJunkie who wrote (6)	6/3/1998 4:49:00 PM
From: IPOJunkie	Read Replies (1) of 94

Auto Network USA Opens Albuquerque Facility biz.yahoo.com Wednesday June 3, 1:03 pm Eastern Time Company Press Release SOURCE: Auto Network USA SCOTTSDALE, Ariz., June 3 /PRNewswire/ -- Auto Network USA (OTC Bulletin Board: ANWK - news), the fastest-growing publicly-held wholesaler of used luxury automobiles in the country, announced today that it has initiated operations at its wholly-owned Auto Network USA - New Mexico facility in Albuquerque. Auto Network had announced its intent to open the Albuquerque facility May 13. Opening the New Mexico operation is part of the Company's strategy to consolidate the highly-fragmented automobile wholesaling industry in strategic markets throughout the country. Auto Network also plans to take advantage of geographic discrepancies in the price of luxury automobiles by buying and selling specific types of automobiles in the areas of the country where margins are best. ''We are pleased we were able to get the Albuquerque facility up and running so quickly and we intend to use this operation as our model for future expansion,'' said Mike Stuart, Auto Network's President and CEO. ''The automobile wholesale market represents a significant industry roll-up opportunity. We intend to become a leader in this industry by acquiring and integrating selected regional wholesale operations just as we did in Albuquerque.'' Auto Network USA is a wholesaler of used luxury automobiles, providing new car dealers with an alternative to the auto auctions by purchasing and re- selling trade-in vehicles. The Company is capitalizing on the billion-dollar wholesale market by focusing operations in strategic segments of the country. The Company has been profitable since it began operations.

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