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Carey International Buys American Limousine Corporation

20 August 1998

Carey International Acquires American Limousine Corporation of Chicago; Fiscal Year-to-Date Acquired Revenues Reach $38 Million

    WASHINGTON, Aug. 20 -- Carey International, Inc.
announced today that it has signed a definitive agreement to
acquire American Limousine Corporation of Chicago.  American Limousine is one
of the largest single-city limousine companies in the world with fiscal year
1997 sales of approximately $20 million.  Upon completion of this transaction,
Carey will have annualized revenues of approximately $150 million.
    American Limousine, a 25-year-old company, is recognized as an industry
leader whose innovative marketing approach earned it Limousine & Chauffeur
magazine's "Operator of the Year" award for 1996.  The company's president and
owner, George Jacobs is a six-time president of the National Limousine
Association and was named one of the "ten most significant people in the
limousine industry for the last decade" by Limousine & Chauffeur magazine.  In
1992, Inc. magazine also recognized him as "Entrepreneur of the Year."  Mr.
Jacobs will spearhead the expansion of Carey's Chicago operations as well as
direct strategic efforts in other markets of the country.
    Vincent A. Wolfington, Chairman and Chief Executive Officer of Carey
International, commented, "American  Limousine is a strategic acquisition for
Carey, as we acquire an established brand name and recognized leader in the
industry and increase our presence in the United States.  With George on our
team and American as part of our family of companies, we believe that the
prospects for continued growth are significantly enhanced, both in Chicago and
around the world."
    "We view this transaction as a win-win for all parties," stated George
Jacobs.  He added, "It is great for our customers, employees, and the
limousine industry as well.  Carey is assembling the all-stars of the
limousine industry in order to field the best chauffeur driven service team in
the world.  We are excited to work together with this great organization."
    Carey International, a leading industry consolidator, is the world's
largest chauffeured vehicle service company.  The Company provides sedan,
limousine, van and minibus service through a worldwide network of owned and
operated companies, licensees and affiliates serving 420 cities in 65
countries.
    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.