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Carey International Announces Three Acquisitions

15 June 1998

Carey International Announces Three Acquisitions; Fiscal Year-To-Date Acquired Revenues Reach $18 Million

    WASHINGTON, June 15 -- Carey International, Inc.
today announced that it has signed definitive agreements to
acquire two chauffeured vehicle service businesses:  Ace Transportation, Inc.
of Boston and American VIP Limousines, Inc. of Miami.  The Company also
announced that it has signed a letter of intent to acquire DBC Corp. Inc. of
Chicago.  The three companies have combined revenues of $5.5 million.
    Ace Transportation represents a "tuck-in" acquisition and will be
integrated with Carey's established Boston operations.  The company was
founded in 1988 and provides chauffeured vehicle services for corporate
clients in the Boston area.  Ace is Carey's third acquisition in the Boston
market in recent months.
    DBC Corp. represents Carey's "platform" acquisition in the Chicago market.
DBC has served as Carey's licensee in Chicago since 1979.  Founded in 1926, it
is one of the largest premium chauffeured transportation companies in Chicago.
    The tuck-in acquisition of American VIP expands Carey's presence and
enhances its capabilities in the south Florida market.  Founded in 1985,
American VIP serves corporate clients including upper class passengers
traveling on Virgin Atlantic Airways.
    "Our acquisition program continues to benefit from our licensee and
affiliate arrangements which provide us with an ideal pipeline of strong
acquisition candidates," said Vincent A. Wolfington, Chairman and Chief
Executive Officer.  "These acquisitions establish a platform for future growth
in the key strategic  market  of Chicago while furthering our presence and
consolidating our position in the existing Boston and south Florida markets.
Recently, we completed our two previously announced Boston acquisitions, and
with our London acquisition and the closing of the three latest acquisitions,
we will have acquired six companies with annualized revenues of $18 million
thus far in fiscal 1998."
    Carey International, a leading industry consolidator, is the world's
largest chauffeured vehicle service company.  The Company provides limousine,
sedan, van and minibus service through a worldwide network of owned and
operated companies, licensees and affiliates serving 420 cities and 65
countries on six continents.
    The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for certain forward-looking statements.  The forward-looking
statements contained in this are subject to certain risks and uncertainties.
Actual results could differ materially from current expectations.