(BSNS WIRE) Auto Network Group To Present at Association of Consumer Veh
Auto Network Group To Present at Association of Consumer Vehicle Lessors
Business Editors/Automotive Writers
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 2, 1999--Auto Network
Group (OTCBB: ANWK) announced today it has accepted an invitation to
make a presentation at the Association of Consumer Vehicle Lessors
(ACVL) convention on March 5, 1999 in Tempe, Arizona.
CFO Mark Moldenhauer will present Auto Network's new website,
AutoTradeCenter.com (http://www.autotradecenter.com) to the ACVL
members. ACVL is comprised of the nation's 25 largest leasing
companies who together account for over 80% of the retail auto leases
nationwide.
Moldenhauer will also participate as a panelist on Wednesday,
March 4, 1999. The panel will focus on the Internet and its impact on
the automobile business.
The Company's Internet service represents a significant addition
to the "business-to-business" service application of the Internet and
complements its wholesale automobile business. The web site is a
revolutionary online service that allows automobile dealers to view
available inventory for more efficient dealer-to-dealer buying,
selling and trading. The database of automobile inventory will be for
wholesaling only, limiting access over a secured connection to
registered dealers. Posting to the database is currently a free
service for dealers. In addition, the site provides large dealership
groups an Intranet service, allowing access to internal inventory
through controlled security access.
Auto Network Group, Inc. 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 AutoTradeCenter.com, please visit
autotradecenter.com.
Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements" within
the meaning of section 27 A of the Securities Act of 1933, Section 21
E of the Securities Exchange Act of 1934, and as that term is defined
in the Private Securities Litigation Reform Act of 1995. The Company
intends that such statements about the Company's future expectations,
including future revenues and earnings, and all other forward-looking
statements be subject to the safe harbors created thereby. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
--30--ik/sf*
CONTACT: M&A West, Inc. (Investor Relations)
Gerry Richards, 650/588-2678
info@mawest.com
KEYWORD: ARIZONA
INDUSTRY KEYWORD: AUTOMOTIVE COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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