Intelligent Motor Cars Reports November Results Exceed Expectations

FORT LAUDERDALE, Fla.--Dec. 4, 2003--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG), today announced that November sales results for its Fort Lauderdale dealership exceeded original projections for the third straight month.

Mike Magolnick, IMC's Chief Operating Officer stated, "In October we projected 50 vehicle sales for the month of November. Our actual sales for November came in at 90 vehicles, which is an 80% increase over November's original projection." "The Company has recorded 206 vehicle sales in its first three months of operations at the dealership, which is 106 vehicles ahead of its projection," said Magolnick. Magolnick also added that these sales figures do NOT include any wholesale sales figures.

December was originally projected to be a slow month with only 25 vehicle sales, however in light of the success over the past three months; the Company has raised its projections to 40 vehicle sales for December. "December is the slowest month of the year in the auto business," reported Will Weathers, IMC's VP of Sales. "People spend more money on the holidays than on new vehicles in December. We expect to sell 40 retail vehicles during December."

The Company also announced that its repossession and delinquency level for its Fort Lauderdale dealership are far below industry levels. "The documented average for Buy Here Pay Here repossessions is 15-20%," said Mike Magolnick. "For our first three months in business at our Fort Lauderdale Dealership, not only have we significantly surpassed our sales projections, we've done it while keeping repossessions and delinquent accounts at ridiculously low levels." The Company reported that as of November 30, 2003 it had 117 financed deals and only 2 repossessions, which translates to a repossession rate of 1.7%. Magolnick added that the Company has a delinquency rate of 0.3%, which when compared to the industry average of 10% is extremely low. The Company attributes its success to its overall dedication to customer service and the quality of its collection practices.

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. 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's 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 Company's periodic and other filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings."