AutoCorp Signs Two Letters of Intent to Acquire Homeland Security Companies for Reliable and Inexpensive Tracking of Containers, Tractor - Trailers, Trucks and Personal Vehicles and Private Aircraft.

FRISCO, Texas -- Plans to Change Name to Homeland Security Network, Inc.

AutoCorp Equities, Inc. (OTCBB: ACOR) announced today that it had signed two Letters of Intent to acquire companies specializing in Homeland Security. The technology to be acquired facilitates inexpensive and reliable tracking of containers, tractor-trailers, trucks and personal vehicles and private aircraft. The transactions will be paid for by issuance of restricted stock. Additional information about the transactions will be provided at a later date.

The transactions, which are still subject to conclusion of a definitive agreement, and Board approvals and customary closing documents, are expected to close in the next sixty (60) days.

The Company's board has made a strategic decision to focus on homeland security, and believes that the demonstrated technology provided by these two companies will give it a unique advantage in mitigating one of the greatest security exposures our nation faces, which is the untracked flow of bulk foreign cargo from port of entry to every city and town in America.

In connection with these transactions, the Company on 01/26/2005 filed an Information Statement with the SEC on Form 14c and an 8-K on 2/1/05, and plans to change its name to Homeland Security Network, Inc.

Safe Harbor Statement

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