AutoInfo, Inc. Reports Revenue Increase of 218% and Record Profits for the Second Quarter.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 7, 2002

AutoInfo, Inc. (OTCBB:AUTO) today announced results of its operations for the six and three month ended June 30, 2002.

For the six months ended June 30, 2002, the Company reported gross revenues of $8.3 million as compared with $3.3 million for the prior year period. Net revenues (gross revenues less the direct cost of transportation) were $1.5 million for the current period as compared with $638,000 for the prior year period, an increase of 231%. The Company reported income from operations before interest and other charges of $222,000 as compared with a loss of $33,000 for the prior year period. Net income was $148,000 as compared with a loss of $44,000 for the prior year period.

For the three months ended June 30, 2002, the Company reported gross revenues of $4.7 million as compared with $1.8 million for the prior year period. Net revenues (gross revenues less the direct cost of transportation) were $791,000 for the current period as compared with $363,000 for the prior year period, an increase of 218%. The Company reported income from operations before interest and other charges of $123,000 as compared with $17,000 for the prior year period. Net income was $83,000 as compared with $19,000 for the prior year period.

Harry Wachtel, President, stated, "The revenue and earnings we achieved in the quarter and for the year to date are the result of expansion during the past year and the successful implementation of our business growth model. We continue to provide an exciting environment for transportation professionals with proven industry experience and look forward to continue this pattern of growth."

AutoInfo, Inc., operating through its Sunteck subsidiary, is a non-asset based supply chain logistics company. Its services include ground transportation coast-to-coast, warehouse services, air freight, rail and ocean freight. Sunteck has developed strategic alliances with major truckload, LTL (less than truckload), air, rail and ocean carriers to react to customers' needs quickly and effectively.

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 Company's ability to implement the Sunteck business plan and sustain profitability. Therefore, there can be no assurance that forward-looking statements will prove to be accurate.

                    AUTOINFO, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED BALANCE SHEET
                          AS OF JUNE 30, 2002
                              (Unaudited)

       ASSETS
          Cash and short-term investments            $  634,000
          Accounts receivable, net                    2,836,000
          Other assets                                  166,000
          Fixed assets                                   38,000

       TOTAL ASSETS                                 $ 3,674,000

       LIABILITIES AND EQUITY
          Accounts payable and accrued expenses    $  2,209,000
          Loan payable                                  500,000
          Convertible debentures                        575,000
          Stockholders' equity                          390,000

       TOTAL LIABILITIES AND EQUITY                 $ 3,674,000


                    AUTOINFO, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                              (Unaudited)

                         Six Months Ended        Three Months Ended
                             June 30,                  June 30,
                         2002        2001         2002         2001

Gross revenues      $ 8,303,000 $ 3,267,000  $ 4,743,000  $ 1,791,000
Cost of
 transportation       6,830,000   2,629,000    3,952,000    1,428,000

Net revenues          1,473,000     638,000      791,000    $ 363,000

Costs and expenses:
 Commissions            797,000     243,000      449,000      139,000
 Operating expenses     454,000     428,000      219,000      207,000

  Total operating
   expenses           1,251,000     671,000      668,000      346,000

Income (loss)
 from operations        222,000     (33,000)     123,000       17,000
Other charges
 (income)                67,000      11,000       36,000       (2,000)


Income (loss)
 from operations
 before income
 taxes                  155,000     (44,000)      87,000       19,000
Income taxes              7,000          -         4,000            -

Net income (loss)   $   148,000 $   (44,000) $    83,000  $    19,000

Basic and
 diluted net (loss)
 income per share        $  .01     ($  .00)      $  .00       $  .00

Weighted average
 number of
 shares outstanding  27,815,000  27,298,000   27,942,000   27,298,000