Auto Data Network and AMAC Inc. in Reverse Merger/Acquisition.Business Editors TUNBRIDGE WELLS Tunbridge Wells: see Royal Tunbridge Wells, England. , U.K.--(BUSINESS WIRE)--Oct. 25, 2001 Auto Data Network Inc., a UK-based provider of a regional, national and European network for the automotive sector that enables industry-wide revenue generation, communication and information collection, today announced a reverse merger/acquisition with AMAC AMAC Adults Molested As Children AMAC Assistance to Mine-Affected Communities AMAC Aircraft Monitor And Control AMAC Approximate Message Authentication Code AMAC American Military Arms Corporation AMAC Asset Management Assistance Center , Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :UMAC UMAC University of Macau UMAC Upper Midwest Aerospace Consortium UMAC Urban Music Association of Canada UMAC Union Monétaire de l'Afrique Centrale (French) UMAC Universal Motion and Automation Controller ), a Maryland-based Delaware corporation. As a result of the reverse merger AMAC, Inc. shall change its name to Auto Data Network to reflect its implementation of the business plan of Auto Data Network Inc. The Company will now trade (OTC) under the symbol ADNW. Chris Glover, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Auto Data Network, stated, "Increased competition and globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation are applying pressure on margins, posing fundamental questions on how the auto industry can improve profitability. Auto Data Network provides integrated, information-based services and current market knowledge creating a competitive advantage to all subscribing sector companies." Glover continued, "Now publicly traded, we should be able to complete a number of strategic acquisitions, expanding our offering and furthering our stated aim of becoming the leading electronic service platform and main provider of information for the automotive industry." Auto Data Network comprises a group of established, automotive companies providing real time data and transactional services to manufacturers, retailers and consumers, Services are integrated onto a single transaction platform and data network. The platform propositions are integrated as a communications channel that allows all automotive sector participants to transact within a single environment, in which transactional data is added and modified on the network. This process creates a unique source of "Intelligent Information(TM)" that can be accessed by subscribing companies to analyze and react to changes in market conditions. 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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