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National Press Release

Aftersoft Group, Inc.'s Parent Company Sets Record Date and Distribution Date for Spinoff

Published 2008-11-18 10:56
By Aftersoft Group, Inc.

NEW YORK, Nov. 18 /PRNewswire-FirstCall/ -- Aftersoft Group, Inc. (OTC Bulletin Board: ASFG), a major supplier of ERP supply chain management solutions to auto parts manufacturers, distributors, retailers and dealerships, announced today that its parent company, Auto Data Network, Inc. (Pink Sheets: ADNW), announced a record date of November 17, 2008 and a dividend distribution date of November 24, 2008 in connection with ADNW's previously declared spinoff of Aftersoft's business. In addition, ADNW announced that NASDAQ has set an ex-dividend date of Tuesday, November 25, 2008.

According to ADNW's announcement, participants in the dividend will receive 0.6864782 shares of Aftersoft's common stock for each share of ADNW common stock held, and for each share of ADNW common stock issuable upon conversion of ADNW's convertible preferred stock held at such time.

ADNW's dividend distribution of the 71,250,000 shares of Aftersoft common stock it owns was registered by Aftersoft in a registration statement filed with the U.S. Securities and Exchange Commission (File No. 333-140758) and declared effective on November 5, 2008.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

About Aftersoft Group, Inc.

Aftersoft Group, Inc. (OTC Bulletin Board: ASFG.OB) is a supplier of ERP supply chain management solutions to automotive parts manufacturers, distributors and retailers. Aftersoft Group provides the automotive aftermarket with a combination of business management systems, information products, and online services that together deliver benefits for all parties involved in the timely repair of a vehicle. For further information, please visit www.aftersoftgroup.com .

This press release contains forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the company's business including, increased competition; the ability of the company to expand its operations through either acquisitions or internal growth, to attract and retain qualified professionals, and to expand commercial relationships; technological obsolescence; general economic conditions; and other risks detailed time to time in filings with the Securities and Exchange Commission (SEC).

SOURCE Aftersoft Group, Inc.



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