Flexcar Adds CFO to Executive Team; Jean-Jacques Millard Experienced in Finance, Fleets

SEATTLE--Oct. 1, 20053, 2005--Flexcar today announced it has added Jean-Jacques Millard as vice president and chief financial officer. He will have responsibility of overall management of Flexcar's day-to-day financial operations.

Millard is a seasoned financial executive with a history of success in both large and small companies. Prior to joining Flexcar, he served as senior vice president of finance and treasurer for Carey International, which provides chauffeured vehicle services, primarily to business travelers, through a network of subsidiaries, licensees, and affiliates in 480 cities and 75 countries. He also has worked on the transactional side of finance as an associate at Barclays Capital and Barclays de Zoete Wedd. Millard holds a B.A. in Economics from the College of William and Mary and an M.B.A. in Finance from Duke University's Fuqua School of Business.

Flexcar, which pioneered the U.S. carsharing industry, has been on an aggressive expansion program since being acquired by AOL Founder Steve Case and his investment firm Revolution in August. As part of the deal, auto industry legend Lee Iacocca joined as a senior advisor and director. Flexcar recently announced its expansion into San Francisco and has been expanding the number of vehicles in its fleet across the country.

"We're thrilled to have Jean-Jacques on board," said Lance Ayrault, president and CEO of Flexcar. "His combination of expertise in finance and fleet operations is a perfect match for Flexcar as we double our overall fleet size in the coming months. And he will be instrumental as we continue expanding into new markets in the coming year."

Flexcar's innovative program provides its members with on-demand access to a fleet of low emission vehicles, including gas/electric hybrids, pickup trucks and minivans located throughout seven major metro areas, including Seattle, Portland, Los Angeles, San Diego, San Francisco, Chicago and Washington, D.C. Members reserve the vehicles for hourly use with Flexcar covering the cost of the car, gas, parking, insurance, and maintenance. Paying by the hour, members can enjoy the freedom of car ownership without the hassles and costs.

"One of the things that makes me so excited about this opportunity is that I truly believe it's an idea whose time has come," said Millard. "With gas prices showing no signs of retreating, and with congestion at an all time high, Flexcar is the perfect solution for urban individuals and businesses looking to save money but not sacrifice mobility and freedom."

Since launching the US carsharing industry in 1998, Flexcar has since won numerous awards and commendations for reducing congestion, air pollution and energy use, and increasing use of public transit while contributing to sustainable communities. Research from Flexcar as well as independent entities has clearly shown that carsharing programs take cars off the road, reduce annual miles traveled and increase the use of public transit. These studies indicate that roughly 60 percent of members have either sold or decided not to purchase a vehicle because of the program, thus removing thousands of vehicles and thousands of tons of emissions from circulation.

About Flexcar

Flexcar founded the U.S. car-sharing industry and now operates car-sharing programs for more than 30,000 members in seven metropolitan areas, covering 37 cities in 6 states and the District of Columbia. With flexible pricing plans, members can reserve and drive any of these cars whenever and wherever they need to, without filling out complicated paperwork, paying for insurance, gas or repairs. Flexcar Business Memberships enable companies to augment or replace their fleet with Flexcar vehicles. Flexcar's fleet includes sedans, gas-electric hybrids, and specialty vehicles including pickups, AWD, minivans and convertibles. AOL Founder Steve Case and auto industry legend Lee Iacocca are board members and investors/owners of Flexcar.

Editor's Note: Correct spelling and punctuation of name is "Flexcar" (not Flex-car FlexCar, Flexicar or Flex Car).