Auto Data Network Announces the Formation of its Strategic Advisory Board; ''Additional Expertise Will Add Management Depth as Company Executes Growth Strategy''.Business Editors TUNBRIDGE WELLS Tunbridge Wells: see Royal Tunbridge Wells, England. , U.K.--(BUSINESS WIRE)--Aug. 28, 2003 Auto Data Network Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADNW), a provider of software and real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. services to the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , today announced the formation of its Strategic Advisory Board, initially comprising; Mr. Colin Breathwick, Mr. Peter Meader, Mr. Tony Brand, Mr. Robin Webb Robin Webb runs the Animal Liberation Press Office in the UK, which releases material to the media on behalf of animal rights activists operating as the Animal Liberation Front (ALF), the Animal Rights Militia (ARM), and the Justice Department. , Mr. Murdo Jamieson, Dr. Richard Williams and Mr. Andrew McLaren, with additional noteworthy appointments to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. soon. The Board brings executive experience in law, corporate finance, accountancy and the automotive industry to the group. "Our Strategic Advisory Board will provide the Company with valuable guidance as we consolidate our product offering and further develop the business," Mr. Glover, Chairman and Chief Executive Officer of Auto Data Network, commented. "The Board will grow to encompass members with different commercial backgrounds, although the main expertise of the advisory board members will be in the automotive and software industries. This additional experience will be an invaluable resource as we continue to build upon our stated aim of becoming a leading provider of integrated software Separate software components or applications that have been combined into one package. See integrated software package. solutions for the automotive sector." Colin Breathwick has over twenty-eight years of experience with the Ford Motor Company in positions which included finance and sales, as Controller of European Sales Operations, Director of Fleet Operations and Sales Operations for Ford UK. Peter Meader is a Chartered Accountant char·tered accountant n. Chiefly British Abbr. CA A member of one of the institutes of accountants granted a royal charter. . Formerly a Senior Partner with PriceWaterhouseCoopers, he has over thirty years experience as a Chief Financial Officer, holding positions in a number of publicly listed companies. Tony Brand is Managing Director of Orbit Automotive Data, an Auto Data Network subsidiary. Mr Brand was formerly Sales and Marketing Director of DCS (1) See also DSC. (2) Digital Cross-connect System) A network switching and grooming device used by telecom carriers. See digital cross-connect. Automotive (UK), part of DCS Group Plc, one of the largest DMS (1) (Document Management System) See document management. (2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. providers in Europe. Mr. Brand has also held senior positions with Kalamazoo Motor Trade Plc and Volvo Cars UK. Robin Webb was formerly Managing Director of a major automotive public company and has held a senior position with a successful motor-racing team. He has substantial experience in marketing and has been consulted on a number of automotive acquisitions and detailed contractual relationships. Murdo Jamieson is Managing Director and founder of MAM Software Limited, an Auto Data Network subsidiary, and Technology Director for the group. Mr. Jamieson has over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. of experience developing technology solutions for the automotive industry across Europe and North America. Andrew McLaren is a senior Partner at a leading law firm in London where he has been based for the past eight years. Specialising in corporate law, Mr. McLaren has advised on numerous business acquisitions and combinations. "The successful conclusion of our first-round fundraising, and recently announced acquisitions, signify an important stage in our development. This additional depth of expertise will assist us in refining and executing our corporate strategy," commented Mr. Glover. "Our Strategic Advisory Board provides us with an additional perspective to ensure we continue to serve the changing needs of our industry." Auto Data Network is a group of established companies which provide software products and services to the automotive industry. The company's main customer base is the auto dealership marketplace. This marketplace consists of approximately 78,000 dealers in North America and 92,000 dealers in Europe. The company estimates that this represents a $15 billion market for Software and Services specifically for auto dealerships. The company supplies a suite of software solutions and services that enable dealerships to run their businesses more efficiently whilst achieving considerable cost savings. The majority of the company's current solutions are focused on serving the aftermarket and finance areas of dealerships. These areas are of particular importance as the aftermarket business is responsible for 48% of a dealerships profit from 12% of their overall revenue. The second most profitable area is vehicle finance and insurance this area contributes 35% of profits from 2% of revenues. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; general economic conditions; and other risks detailed time to time in the Company's filings with the Securities and Exchange Commission (SEC). |
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