CARCORP USA Corporation Updates Status of Merger With Elite Flight Solutions, Inc.

    DEERFIELD BEACH, Fla.--April 29, 2003--CARCORP USA Corporation, a Delaware Corporation (OTCBB:CUSA), announced today that it has filed the Definitive Information Statement (14C) with the Securities and Exchange Commission and their shareholders. The board of directors approved the merger between Elite Flight Solutions and CARCORP USA Corporation on February 4, 2003.
    Once majority shareholder approval is obtained, Elite Flight Solutions stock will be distributed to the shareholders of CARCORP USA Corporation's Common Stock. This action is expected to be completed within 20 days of the legal mailing which is going out to share holders this week and which will be the final phase of the 14C filing.
    "Our board of directors believes that the share exchange agreement through which CARCORP will acquire all of the ownership in Elite Flight Solutions will bring a new business direction to the company and move it towards increased profitability. This obviously will be of great benefit not only to our Company, but our shareholders as well," commented Michael DeMeo, CEO of CARCORP USA.
    CARCORP USA will change their corporate name to Elite Flight Solutions, Inc. as well as effecting a ticker symbol change once the merger is approved by majority shareholders of CARCORP USA.
    "We believe that a new corporate name change will reflect our change in business direction, and the new corporate name will promote public recognition and more accurately reflect our new business focus," DeMeo went on to say.
    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 Company's 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.