Intelligent Motor Cars Reports Second Record Month

FORT LAUDERDALE, Fla.--Nov. 1, 20032, 2003--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG), today announced October sales results for its Fort Lauderdale Dealership.

After September's record month of 49 sales, the Company changed its October estimates from 30 sales to 40 retail sales. The Company today reported that it eclipsed its projections and sold 67 vehicles for the month of October. "We knew that location played a big role in each dealership's success. When we launched this location, we set an initial goal to sell an average of 30 vehicles per month. I give a lot of credit to our sales team to make things happen," said Mike Magolnick, IMC's Chief Operating Officer.

"We've had a lot of repeat and referral business, which has helped our sales efforts," reported Will Weathers, IMC's VP of Sales. "We've created a great model for our next locations."

Based on the previous two months, the company has changed its projections for November sales. General Sales Manager Steven Buckner estimates that the Company will sell 50 vehicles in November instead of the original projection of 35 vehicles.

No year-end projections have been released yet, although the company has remained very positive about the future of its retail division and its growth through expansion and acquisition.

About Intelligent Motor Cars

Intelligent Motor Cars, Inc. d/b/a Sun Auto Leasing and Sales, is a diverse South Florida car company, which provides, among other services, sales, service, reconditioning, and financing. For each year of the past four years, IMC's sales have doubled or better. In addition to retail sales, the Company focuses on wholesale, auction and Internet programs to market and sell vehicles to the financially challenged consumer market.

Certain statements in this press release constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Intelligent Motor Cars Group, Inc. ("the Company"), or automobile related industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements, including that the Company's current revenue levels are not necessarily indicative of its future revenue levels or future financial performance. The Company's future operating results are dependent upon many factors, including: (i) whether the Company is able to obtain sufficient funding to fund its expansion plans; (ii) whether the Company is able to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments in the automobile industry; (iv) federal, state and local regulations pertaining to health and environmental quality standards; licensing/registration; financing; consumer protection; and safety; (v) the Company's ability to collect on receivables from high risk credit clients; (vi) the Company's ability to efficiently price and negotiate acquisitions on a favorable basis; (vii) whether the Company efficiently integrates the operations of other automobile dealerships it may acquire; and (viii) any negative economic conditions that would negatively affect the Company's business and expansion plans. Further information regarding the Company's business and its financial results may be obtained from the Company's periodic and other filings with the Securities and Exchange Commission which are available for review at http://www.sec.gov under "Search for Company Filings."