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Auto Network Group Shifts Entire Business Online

Scottsdale, AZ-based Auto Network Group Inc. said that it will begin to convert all of its automotive wholesaling business to an Internet-based operation.

The company is also changing its name to AutoTradeCenter.com, which is also the name of the company's online auto wholesale site.

As a result of the move, AutoTradeCenter.com will be an automotive e-commerce site with annualized revenue in excess of $100 million, the company said..

"The name change reflects our growing Internet focus and presence," said CEO Michael Stuart. "The Internet will greatly affect the way we do business in the future and we are pleased to be in the forefront of the automotive industry moving online. We are confident that our unique business characteristics will allow us to expand and utilize the Internet as few others can."

AutoTradeCenter.com's site is a "business-to-business" service that allows automobile dealers to view automotive inventory for more efficient dealer-to- dealer buying, selling and trading. The inventory is for the wholesale trade only. Access is limited to registered automobile dealers, fleet and lease remarketers, financial institutions and rental car companies.

The site is currently being expanded to facilitate online automotive auctions. AutoTradeCenter.com will provide an Internet-based alternative to the conventional auto wholesale industry.