Future Carz, Inc. Enters the GPS/Telematics Industry with the Appointment of Marvin L. McCarthy as Chief Technology Officer

    SCOTTSDALE, Ariz.--Dec. 11, 2001--Future Carz, Inc. (OTCBB:FCZI), an automobile marketing company specializing in sub-prime consumers, announced today that it is entering the GPS/Telematics marketplace with the appointment of Marvin L. McCarthy to the newly created position of Chief Technology Officer.
    One of Mr. McCarthy's key objectives will be to utilize GPS technology to protect the expanding Future Carz fleet in the event the customer defaults on a loan or lease. In addition, the company is contemplating plans to create a separate business unit dedicated to deploying GPS technology for asset recovery and security applications.
    Edward Heisler, Future Carz President and COO explains, "Our target market includes individuals who do not meet traditional financing terms, and it is growing at a significant pace. The events of September 11th coupled with an already weakened economy put people under increasing financial pressure. Many times we become the only viable alternative for them to obtain reliable transportation. With this expanding opportunity, however comes increased risk of loan or lease default and the potential loss of the vehicle. Using GPS technology to eliminate or reduce this risk allows us to increase our portfolio's profitability and our customer value proposition, resulting in a win-win situation for all parties."
    Mr. Heisler adds, "In addition, we are excited about the prospects of expanding our participation in the broader GPS/Telematics marketplace by creating a separate business entity focusing specifically on these applications."
    Traditionally, defaulted assets are handed over to a recovery agent for repossession. This is a difficult, time consuming, expensive and potentially dangerous process, and is usually only successful in approximately 60% of the cases. "Over the last few years, significant advancements have been made in using GPS to reduce the risk inherent in the auto business," Mr. McCarthy says. "With GPS, it is now possible to achieve vehicle recovery rates of over 95%. Reduced cost, increased portfolio profitability and increased employee safety are the obvious benefits. My charter is to immediately apply that technology in protecting the Future Carz fleet, and to create a business plan for making a larger entry into the GPS/Telematics arena. The combination of this new technology and Future Carz' unique leasing process have the potential to make Future Carz the premiere supplier of sub-prime leased vehicles. I am very excited about being part of this effort," he added.
    Mr. McCarthy holds a Bachelor of Science degree in Electrical Engineering (BSEE) from Arizona State University, and has pursued work on his Masters in Business Administration degree (MBA) from San Diego State University. He has worked with technology companies for more than 20 years, ranging in size from start-up ventures to The McGraw Hill Companies. Since the mid-1990s, he has focused on business strategy and application development, working with both start-up ventures and established companies in the development of business plans or new business units. Mr. McCarthy has focused his technological work during this period primarily on wireless communications systems for various applications, including satellite systems, cellular systems, and Global Positioning Systems (GPS). His GPS development work was specifically targeted at using the technology for the recovery of defaulted assets, including automobiles.
    "We are extremely excited to have Mr. McCarthy join our Team," states Edward Heisler. "His extensive technology and senior management background, coupled with his detailed knowledge of operations within the automotive industry will prove invaluable to us as we begin to aggressively deploy our business model and strategize the further growth of the corporation."

    About Future Carz, Inc.

    Future Carz, Inc. offers quality, late model automobiles to qualified individuals who do not meet traditional financing terms. The company is building a network of dealerships servicing the sub-prime credit segment of the automobile sales and leasing market.
    For further information please visit www.futurecarz.com or call Financial Public Relations at 480/444-0078.

    SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the Company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the Company's future performance and are subject to a number of risks and uncertainties that could cause the Company's actual results in the future materially to differ from the forward-looking statements.