Intelligent Motor Cars Reports Year End 2003 Sales Results Exceed Projections

FORT LAUDERDALE, Fla.--Feb. 6, 2004--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG), today announced that its year end 2003 sales results exceeded original projections.

Mike Magolnick, IMC's Chief Operating Officer stated, "Since opening our retail dealership in September, the Company has exceeded projections every month." Magolnick added that the Company anticipates reporting its first profitable quarter as a public company, which is two quarters ahead of expectations.

In January, the Company beat its projection of 50 vehicle sales by 26%, when it reported 63 retail sales for the month. For February to-date (3 business days), the Company has 12 retail sales and is projecting 55 for the month.

"Considering the typical market slowdown in November and December, showing a profit for the fourth quarter as our first full quarter operating primarily as a retail business is testimony to the proper execution of our business plan."

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."