Flexcar Gets Turbo Boost

SEATTLE--June 20, 2006--Flexcar:

-- Former DaimlerChrysler executive to drive Flexcar's continued expansion

-- New management team members join the ride

-- Increased Revolution Living investment adds horsepower

Flexcar today announced a series of management appointments and capital infusion that will allow the company to accelerate its national expansion and provide increased convenience and service for its members. Mark D. Norman, a highly accomplished veteran of the auto industry, has been appointed chief executive officer and is joined by former Carey International finance executive J.J. Millard as chief financial officer, as well as longtime Hertz executive Griff Long as vice president of operations. Flexcar, flush off the highest revenue month in the company's history, also announced that its parent company, Revolution Living, has increased its investment stake in the company to 85 percent from 55 percent. Revolution Living is an operating unit of AOL Co-Founder Steve Case's investment firm Revolution LLC.

CEO Mark Norman

Mark Norman formerly served as chairman, president and CEO of DaimlerChrysler, Canada, where, during his tenure, it became the second largest vehicle retailer and one of the top-two share gainers in Canada. Norman positioned the company to capitalize on the Canadian consumer's focus on cost of ownership and the environmental sensitivities associated with vehicle ownership. These experiences position him well to lead Flexcar, whose members have similar sensibilities.

Previously Norman was vice president of the company's Global Sales and Marketing Operations, which included 5,500 employees, $60 billion in revenues and 2.7 million vehicles through 6,000 dealers.

Norman's primary role will be to guide the company through its continuing national expansion while planning for exponential growth in the coming years. Former Flexcar CEO Lance Ayrault will now serve as vice chairman of the company's board of directors.

"With Mark Norman, we're taking the next step toward making Flexcar a national phenomenon," said Michael Crooke, CEO of Revolution Living, Flexcar's parent company. "With gas prices sky-high, the hassles and expense of car ownership in urban areas increasing every day, and a growing desire to have a more environmentally-friendly way to get around, the time is right for us to fuel Flexcar's expansion."

Flexcar's award-winning service provides its members with on-demand access to a fleet of hundreds of low emission vehicles, including hybrids, pickup trucks, AWDs and minivans conveniently located in seven major urban areas. Members reserve a vehicle online or via touchtone phone, use a Smartcard to open the doors, take their trip, then return the car at the end of the reservation. An hourly fee includes gas, insurance, unlimited miles, maintenance, parking and 24-7 emergency service.

"The growing number of conscious consumers, combined with the obvious value and convenience of Flexcar make this the right idea at the right time," said Norman. "As Flexcar's new CEO, I look forward to hearing from existing members on how we can make a great service even better -- and I will work to add new members and new vehicles to our service as quickly as possible."

Prior to his role at DaimlerChrysler, Norman was with Ford Motor Company. Over the course of his eight-year tenure there he held a variety of roles in manufacturing and marketing. He joins Case, Ayrault, auto-industry legend Lee Iacocca, and others on Flexcar's board of directors.

New Management Members

Flexcar has continued to round out its executive team with extremely accomplished professionals including:

J.J. Millard, Vice President and Chief Financial Officer

J.J. Millard oversees finance, accounting, insurance and business analysis. Prior to joining Flexcar he was Senior Vice President of Finance and Treasurer for Carey International, a global chauffeured services company, where his responsibilities included treasury management, financial planning and analysis, and strategic development. Before joining Carey in 1999, J.J. worked in the Cross-Border Mergers & Acquisitions Group for the investment bank Barclays DeZoete Wedd. He completed his undergraduate studies at the College of William & Mary and has an MBA from Duke University.

Griff Long, Vice President of Operations

Griff Long oversees daily operations of all Flexcar markets, including vehicle acquisition, fleet management, personnel and policy development. He was a 15-year veteran of Hertz, where he served as Area Operations Manager of the South Bay and East Bay, Calif. region. He had responsibility for 60 locations (airport, city, and suburban outlets), 7,500 vehicles and approximately 600 employees producing over $120 million in revenues. He also provided strategic, fiscal, and day-to-day leadership over all aspects of operations, sales, business development, P&L, and account acquisition/negotiations/management. He holds a Bachelor's of Science award from Bridgewater State University in Bridgewater, Mass.

Revolution Living and Its Increased Investment

Flexcar pioneered the U.S. carsharing concept and has been on an aggressive expansion program since being acquired by Revolution LLC a year ago. Since then, Revolution launched Revolution Living, which owns and operates companies dedicated to healthy and sustainable living. Initially, Revolution Living contains Miraval: Life in Balance, multi-media platform LIME and Flexcar.

Revolution Living has increased its investment stake in Flexcar to 85 percent from 55 percent. Buoyed by increasing gas prices, concern about dependence on foreign oil, and an increasingly large number of conscious consumers, Flexcar is continuing to set new records for use and revenue on a weekly basis. It expanded into San Francisco last fall and will be entering additional markets in 2006. It has nearly doubled its fleet in the past year.

"The growth and success of Flexcar over the last year has only added to our belief that this is a game-changing company," said Crooke. "We're doubling down our commitment to pushing Flexcar and the carsharing industry forward. These changes will mean more markets, more convenience and even better service for Flexcar members across the country."

More New and Unique Vehicles

With summer upon us, the company has added some sunshine to the fleet, with upscale convertible Toyota Solaras in many markets, the brand new Mazda Miata convertible in Seattle and dozens of Honda Element crossover vehicles and Toyota Tacoma pickups in all regions. With these additions, it's even easier for Flexcar members to enjoy the outdoors and the great weather.

With the additional capital, Flexcar expects to continue to expand its fleet in all of its regions, with more than 150 cars in the next 60 days. More cars means more convenience for members and the company will focus on increasing capacity in its popular areas as well as expanding into others over the coming months.

About Flexcar

Flexcar founded the U.S. car-sharing industry and now operates car-sharing programs for more than 35,000 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. Flexcar is a portfolio company of Revolution Living, an operating unit of Steve Case's investment firm Revolution LLC.

About Revolution Living

Revolution Living was established in July 2005 to inspire people to live more balanced and responsible lives. One of three business groups in the Revolution LLC family of companies, Revolution Living includes Miraval: Life in Balance, the leading "mind, body, spirit," destination resort in the United States; LIME, a multi-platform channel that provides programming related to healthier lifestyles, nutrition, and a healthier planet; and Flexcar, America's leading car-sharing service, with one of the nation's largest privately held fleets of hybrid cars. In addition, Revolution Living has a minority interest in Gaiam, the lifestyle media company that caters to people who value personal development, natural health, and inspirational entertainment. Revolution Living's strategy is to create products and services that are of the highest quality, promote social responsibility, advance environmental sustainability, and yield exceptional financial returns.

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