Automax to Begin Trading Under New Symbol; Announces Acquisition of Carefree Lifestyles and Reverse Stock Split

    NORTH LAUDERDALE, Fla.--May 28, 2002--Automax Group Inc. (formerly Pink Sheets:AMXX) today announced that it has completed the acquisition of Carefree Lifestyles Inc., a Florida corporation. In connection with the acquisition, effective at the open of trading today, the issued and outstanding shares of common stock of Automax underwent a 1-for-100 reverse stock split.
    Also effective at the open of trading today, Automax common stock will trade under the new symbol "AUMX" (Pink Sheets:AUMX).
    Carefree Lifestyles Inc. is a luxury-lifestyle provider of high-end luxury auto rentals, lavishing real estate rentals, luxury airplane rentals, and limousines, yachts, and personal protection. The company has been serving the South Florida region since 1996.
    More information can be obtained at http://www.carefreelifestyle.net.

    The Private Securities Litigation Reform act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the luxury rental market, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Automax Group Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.