Intelligent Motor Cars Group Reports Profitable 2003 Fourth Quarter

FORT LAUDERDALE, Fla.--May 1, 20040, 2004--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG), today announced that the Company had a profitable fourth quarter in fiscal 2003. For the three months ended December 31, 2003, the Company reported a net profit of $123,000 or $0.01 per share.

Mike Magolnick, IMC's Chief Operating Officer stated: "While the Company incurred a loss of approximately $1,000,000 for the fiscal year ended December 31, 2003, our fourth quarter was profitable. We didn't expect to report a profit this soon after migrating our business from wholesale to retail sales commencing in the third quarter of 2003. We were able to achieve this goal several quarters ahead of schedule."

About Intelligent Motor Cars Group, Inc.

Intelligent Motor Cars Group, Inc. is a diverse South Florida car company, which provides, among other services, sales, service, reconditioning, and financing. In addition to retail sales, IMCG is also engaged in wholesale, auction and Internet programs to market and sell vehicles to the financially-challenged consumer market.