Streicher Reports Operating Results for Five Month Transition Period

    FT. LAUDERDALE, Fla.--Aug. 31, 2001--Streicher Mobile Fueling, Inc. , an outsourcing value added refueling service for vehicle fleets, today announced its results for the five month transition period ended June 30, 2001.
    The transition reporting is required as a result of a change in fiscal year end from January 31 to June 30.
    For the five months ended June 30, 2001, Streicher Mobile Fueling, Inc. ("SMF") delivered 21.8 million gallons of fuel compared to 25.3 million gallons for the five months ended June 30, 2000. Total revenue was $29.5 million for the five months ended June 30, 2001 compared to $36.5 million for the same period of the prior year.
    Net loss for the five months ended June 30, 2001 was $1.95 million or $0.47 per share, compared to a loss of $0.51 million or $0.19 per share for the five months ended June 30, 2000. The current five month period loss included $233,000 of nonrecurring employee severance expenses, loan fees and losses.
    Richard E. Gathright, CEO and President commented, "Recently implemented cost reductions, primarily in labor and maintenance, coupled with improved routing and scheduling efficiencies, and new customer profitability evaluations are expected to produce improved results during the first quarter of the new fiscal year."
    "Similarly, our enhanced marketing efforts are showing positive results. In the first quarter of fiscal 2002 ending September 30, 2001, we expect to increase the gallons of fuel delivered, particularly in bulk deliveries to major users. We have aggressively pursued the highly competitive California bulk fuel delivery market, providing SMF the opportunity to gain significant additional volumes and, most importantly, to generate incremental margin contributions to cover fixed operating costs."
    Gathright also indicated that general and administrative expenses have been reduced, primarily through selective personnel reductions and attrition, as well as a more effective allocation of responsibilities among the SMF work force, a decrease in the cost of third party advisory services, and improvements in field and office control procedures.
    Gathright added, "We have made significant investments over the past several months which will help SMF be more price competitive, provide a superior level and broader base of fueling services, achieve more cost-effective operations, and develop a platform from which to expand its business reach into other fuel-related areas and geographical locations. All of these changes are aimed at future bottom line performance for SMF and enhanced equity value to our shareholders."

	   Condensed consolidated statements of operations are as follows:

                            5 Months Ended
                            6/30/01 6/30/00
                        (Unaudited) (Unaudited)
Total Revenues                   $  29,509,981   $   36,481,300
Gross Profit                     $     739,983   $    1,336,936
Operating (Loss) Profit          $  (1,385,797)  $      128,376
Net Loss (a)                     $  (1,951,314)  $     (511,656)
Net Loss Per Share               $       (0.47)  $        (0.19)
Average Shares Outstanding            4,194,283       2,712,220
Gallons of Fuel Delivered            21,802,879      25,328,183

    (a) Including $233,000 of nonrecurring expenses, fees and losses in the five months ended June 30, 2001.