Republic Transportation Buys Local Ambassador & Garden State Limousine Services

   Expert Management Team Plans to Revamp Fleets, Increase Customer Service
                           and Expand Area Service

    NEW YORK, May 31 Republic Transportation, Inc, a newly
formed ground transportation company, sponsored by ACI Capital Co., Inc. ("ACI
Capital"), today announced the purchase of Ambassador Limousine of
Connecticut, and Garden State Limousine of New Jersey from Precept Business
Services of Dallas, Texas.
    "These acquisitions represent the first of a series of strategic
acquisitions Republic Transportation plans to make to establish it as a
leading car service company," said Terry Hardy, CEO of Republic
Transportation. "Our immediate goal, however, is to provide superior service
to both Ambassador and Garden State's existing individual and corporate
customers."
    Republic Transportation acquired the two companies out of a bankruptcy,
and plans to upgrade the entire fleet of cars immediately with a combination
of luxury sedans and town cars. Both Ambassador and Garden State Limousine
have long-standing service histories in their respective areas, and Republic's
goal at both is to expand their customer care and service offerings in the
tri-state area.
    An experienced team of automobile executives including Terry Hardy, a
former senior executive at AutoNation's Auto Rental Group and National Car
Rental, and Robert McKenna, the former President of National Car Rental, leads
Republic Transportation. Specializing in providing premier cars for clients
ranging from individuals to Fortune 500 companies, Republic Transportation
offers a complete range of customized transportation services including:
airport pick up and drop off, point to point transportation, special occasion
and VIP corporate car services.
    Ambassador Limousine operates in the Hartford & New Haven area, and can be
reached at 800-395-LIMO or http://www.ambassadorlimousine.com, and Garden State
Limousine operates in New Jersey, and can be reached at 800-910-LIMO or
http://www.gardenstatelimo.com.

    About Republic Transportation
    Republic Transportation, Inc, is a newly formed ground transportation
company specifically focused on providing its clients with the finest
limousine and livery sedan service possible. Republic Transportation, Inc, is
a privately held company incorporated in Delaware with operations in New York,
New Jersey and Connecticut.  To learn more about the company, call 800-395-
LIMO.

    About ACI Capital:
    ACI Capital is an integrated investment firm that invests in growing
middle market companies. It makes private equity investments, provides
mezzanine financing, and manages the ACI Capital America Fund, LP (a Small
Business Investment Company), the ACI Capital Strategic Fund LP (a public
equities hedge fund) and ACI Capital Direct Investments. For further
information please contact Kevin S. Penn at 212-634-3333.

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