The PennyShac

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AutoCorp --Homeland Security Network, Inc.-- Signs Distribution Agreement For SaTrac Security Tracking System; MRI To Distribute In The Northeastern United States

2005-02-22 09:20 ET - News Release

FRISCO, Texas -- (Business Wire) -- Feb. 22, 2005

AutoCorp Equities, Inc. (OTCBB: ACOR), to be renamed
Homeland Security Network, Inc.("HSNi") as of February 28, 2005,
announced today that it has entered into a Distribution Agreement with
Mobile Remedies International (MRI) in Woodbridge, New Jersey for the
marketing and sales of HSNi's SaTrac(TM). MRI will market and sell
SaTrac, a revolutionary vehicle and asset tracking system, in the
Northeastern United States. The agreement gives HSNi an immediate
national entry into the lucrative and rapidly growing consumer
automobile tracking sector.
MRI has agreed to represent HSNi initially in the five-state area
surrounding the New York metropolitan region and will immediately
commence distribution of the tracking system to major automobile
dealerships and vehicle fleet operators. In addition, the company and
MRI intend to expand their relationship to cover additional states
nationwide. "Mobile Remedies has representatives covering all major
markets for the automotive industry," according to Charles Norman,
HSNi's CEO. "MRI has successfully marketed warranty insurance along
with other aftermarket products to the automotive industry on a
regional and national basis. They are a perfect fit for the Consumer
Division of our company," Norman concluded.
MRI, a transportation industry aftermarket distributor, spent more
than two years and invested hundreds of thousands of dollars in
research and development of GPS technology, before consummating an
agreement with HSNi. MRI believes that the new SaTrac GPS hardware and
software is the most technologically advanced GPS system for tracking
and monitoring of assets available anywhere in the world. It will
immediately replace the widely used and antiquated radio frequency
(RF) tracking and recovery systems marketed as LoJack(R), ForceTracker
and others that require specialized equipment and have only limited
coverage areas. MRI, through its direct sales organization and their
existing national network of sub-distributors, intends to capture the
tracking and recovery market, which currently exceeds $250 million in
annual sales.
Blaise Zampetti, Chief Operating Officer of MRI, who is an
experienced executive in the automobile industry, said, "This new
SaTrac system is the most exciting product introduced to the
aftermarket auto sales venue in over twenty years. I believe dealers
will view this item as one of the finest value-added products ever
made available to their consumers. Dealers will now have a much needed
revenue source previously unavailable to them."
Peter Ubaldi, the CFO of HSNi adds, "This national coverage and
immediate market penetration will give the company a head start on
reaching its projected revenue for this year. Each sale not only
creates immediate income but also establishes a future revenue stream
by virtue of the ongoing service fees that are part of every sale. It
is the classic 'razor/razor blade' model."

About Auto Corp Equities, Inc.

AutoCorp Equities, Inc. (ACOR), a publicly-traded holding company,
has entered into acquisition agreements with Rodwell Software Systems
and ComTrak Solutions. These companies, brought to AutoCorp by some of
its major shareholders, produce and market revolutionary new GPS
tracking devices and software. AutoCorp will change its name to
Homeland Security Network, Inc. (HSN) on or about February 28th, 2005
to reflect the direction of its new course of business. The company
will capitalize on rapidly-emerging, largely under-served, GPS
tracking markets. These markets, whose scope was dramatically
accelerated by the increased need for Homeland Security, have a
potential demand in excess of 100 million units-plus in the United
States, Canada and Mexico over the next decade. HSN plans to lead the
GPS tracking industry through the combined assets of its newly
acquired companies' propriety software and market distribution
capabilities. The re-structured company is also completing
negotiations with a major international electronics manufacturer that
will give it the ability to quickly and economically expand its sales
efforts to all of its targeted markets. HSN expects to capture a
dominant share of the GPS market with its ability to provide, in large
quantities, the lowest cost tracking hardware, and to offer the most
cost-effective data transmission fees (wireless airtime consumer
costs) in the industry. Airtime costs, which largely inhibit the
current GPS market's product sales and deployments, will be nearly
2000% lower for HSN than those of its nearest competitor for
comparable data transmissions. The company's GPS products will
incorporate state-of-the-art map tracking and trailing, geo-fencing
alerts for designated parameter infringements, and the ability to
uniquely control all vehicle functions from its customer's web-enabled
mobile phones or personal computers, via the company's proprietary
Internet website system software.
Interviews with the Company's CEO are available at
http://www.wallstreetreporter.com/profiles/AutoCorpEquitiesInc.html
http://www.ceocast.com/company.cfm?cid=2247

Safe Harbor Statement

This press release contains forward-looking statements that
involve risks and uncertainties. This release contains statements that
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements appear
in a number of places in this release and include all statements that
are not statements of historical fact regarding the intent, belief or
current expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition or
results of operations; (iii) the Company's growth strategy and
operating strategy; and (iv) the declaration and payment of dividends.
The words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend," "promise," "seeking to," "negotiating to" and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements as a
result of various factors.

Mailing List

Interested investors are invited to contact MarketConnexxions at
[e-mail] to be added to the mailing list for HSN.
Contacts:

MarketConnexxions, LLC
Ken Lowman, 212-922-0573
[e-mail]
or
AutoCorp Equities, Inc.
Terri Ashley, 214-618-6400
[e-mail]