Future Carz Inc. Signs Letter of Intent to Acquire American Motors Corp. --AMC--

    SCOTTSDALE, Ariz.--March 18, 2002--Future Carz Inc. (OTCBB:FCRZ), today announced it has signed a Letter of Intent to acquire 100% of the common stock of American Motors Corp. (AMC).
    The Letter of Intent contemplates the signing of a definitive Share Exchange Agreement that requires the closing of the AMC acquisition within 60 days. The proposed share exchange will effectuate a change in control of Future Carz Inc.
    AMC has targeted a niche in the automobile market through the development of the Basic Transportation Vehicle (BTV), a 4X4 vehicle that has been specifically designed for all-purpose use in developing countries.
    AMC has completed development of the BTV through an initial $7.5 million investment combined with its other $120 million of audited non-automotive assets and expects to begin manufacturing and sales upon completion of the acquisition. AMC also expects an additional $5 million equity investment from its initial investors as a simultaneous condition of the acquisition.
    AMC has a strong team of automotive professionals including a former General Motors vice president with over 35 years of experience as its president.
    "If the conditions of the LOI and definitive agreement are met, the entry of AMC as a major public company player in the automotive manufacturing arena is welcome news to potential investors and the transportation needs of developing countries," said Stan Wilson, Future Carz president, when commenting on the proposed acquisition.
    For further information please 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.