Intelligent Motor Cars Group Acquisition to be Completed Q1 2005

FORT LAUDERDALE, Fla.--Jan. 2, 20050, 2005--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG) today announced that in the first quarter of 2005 IMCG expects to complete the acquisition of at least one buy-here/pay-here retail lot. In addition, the Company is seeking to launch additional retail dealerships during the second quarter of 2005 through acquisitions of existing dealerships or by establishing new ones.

Mike Magolnick, IMCG's Chief Operating Officer stated, "We are pleased to be moving forward with our plans and believe that we are positioned to take full advantage of our renewed commitment to retail cash sales. The Company has been exploring several acquisition possibilities with a view toward enhancing shareholder value."

About Intelligent Motor Cars Group, Inc.

Intelligent Motor Cars Group, Inc., through its wholly owned subsidiary, Intelligent Motor Cars, Inc. d/b/a Sun Auto Sales and Leasing, 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.

FORWARD-LOOKING STATEMENTS

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 but not limited to: (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 www.sec.gov under "Search for Company Filings."