AutoInfo, Inc. Announces New Disclosure Statement Hearing and Confirmation Hearing Date Regarding Its Prepackaged Chapter 11 Reorganization Plan.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--March 16, 2000

AutoInfo, Inc. (OTCBB:AUTO) today announced that the hearing to consider compliance with the disclosure requirement was adjourned and rescheduled. The hearing to consider compliance with the disclosure requirements, any objections to the disclosure statement (the "Disclosure Compliance Hearing"), and any other matter that may properly come before the Bankruptcy Court, will be held before the Honorable Adlai S. Hardin, Jr., United States Bankruptcy Judge, in Room 520 of the United States Bankruptcy Court, 300 Quarropas Street, White Plains, New York 10601, on March 15, 2000 at 10:00 A.M. on April 6, 2000.

William Wunderlich, President and Chief Financial Officer of AutoInfo stated, "We regret this delay but continue to look forward to the confirmation of our Plan so that we may proceed toward the consummation of a transaction in our continuing efforts to restore shareholder value."

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expected or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company, including the ultimate confirmation of the Bankruptcy Plan. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.