CARCORP USA Corporation Moves Forward with the Closing of the Acquisition of Elite Flight Solutions, Inc.

    DEERFIELD BEACH, Fla.--March 5, 2003--CARCORP USA Corporation, a Delaware Corporation (OTCBB:CUSA), has made significant progress with the due diligence process and hopes to finalize the acquisition within thirty (30) days or less subject to shareholder approval. Elite Flight Solutions Inc. is a provider of public air transportation and air jet charter service, which also sells and maintains aircraft.
    "I am pleased the acquisition is close to being finalized and CARCORP USA is entering the airline industry lead by a team of experienced airline executives with vision and the financial tools to attain growth and market share," said Michael DeMeo, President of CARCORP USA Corporation.
    Once the Acquisition is complete there will be a name and symbol change. Also shareholders will be asked to do a physical exchange of certificates.
    For further information on Elite Flight Solutions Inc. go to http://www.flyjets.biz, a division of Elite Flight Solutions Inc. Recently the website has been updated and will help keep investors better informed as to the business of Elite Flight Solutions.

    Forward Looking Statements:

    Statements about the company's future expectations, including revenues and earnings and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Capital Securities Act of 1933, section 21E of the Securities Exchange act of 1934, and as the term defined in the Private Litigation Reform Act of 1995. The Companies actual results could differ materially from expected results. The company undertakes no obligation to update forward looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; the company will appropriately inform the public.
    For investor relations please contact Investor@Carcorpusa.com or Fly Jets.Biz at 866-FLY-JETS.