Carey International Announces Acquisitions

12 August 1999

Carey International Announces Acquisitions: Strengthens Presence in Chicago, Detroit, Jacksonville, and Connecticut

    WASHINGTON, D.C.--Aug. 12, 1999--Carey International, Inc. today announced that it has acquired My Chauffeur Limousine Service of Chicago, Illinois.
    The Company also announced that it recently acquired Continental Limousine Service, Inc. of Detroit, Michigan, and its licensees in Jacksonville, Florida, and Hartford, Connecticut.
    My Chauffeur was founded in 1987 by Sal Milazzo to provide chauffeured transportation service in the northwest Chicago area. The company has distinguished itself by its attention to quality service and by maintaining a late-model fleet of limousines. My Chauffeur generated approximately $7 million in revenues in 1998.
    Vincent A. Wolfington, Chairman and CEO of Carey International, said, "The acquisition of My Chauffeur expands our service reach in the vast Chicagoland area. By adding My Chauffeur to our team, we also add talented management and strong operations to our established Chicago operations. Geographically, My Chauffeur's strong foothold in northwest Chicago complements our recent acquisition of American Limousine which is located in the southwest area."
    Sal Milazzo, President of My Chauffeur, commented, "Joining forces with Carey and American creates enormous opportunities for our clients and employees. Our clients will now benefit from Carey's worldwide services when they leave Chicago, and the company's employees will have greater career development opportunities throughout Carey's international service network."
    Carey International also acquired Continental Limousine Service of Detroit which was founded in 1986 by Dr. Jeffrey Dembs. The acquisition of Continental, when combined with the Carey Detroit franchise revenue base, represents in excess of $2 million in annualized revenues.
    Mr. Wolfington continued, "The investment in Detroit is a logical step in Carey's expansion in the Midwest and enhances our market penetration in the region."
    Carey also announced that it has acquired its licensees in Jacksonville and Hartford. These acquisitions are consistent with Carey's strategy of expanding its owned operations through acquisition of its licensees and affiliates and complement Carey's recent investments in these growing markets.
    Carey International is the world's largest chauffeured vehicle services company. The company provides chauffeured sedan, limousine, van and minibus services through a worldwide network of owned and operated companies, licensees, and affiliates serving 420 cities in 65 countries.
    The information set forth above contains forward-looking statements, which involves risks and uncertainties. The Company's actual results could differ materially from the results anticipated in these forward-looking statements. Readers should refer to discussion under "Risk Factors" contained in the Company's Registration Statement on Form S-1 (No. 333-59599) filed with the Securities and Exchange Commission, which is incorporated herein by reference, concerning certain factors which could cause the Company's actual results to differ materially from the results anticipated in the forward-looking statements contained herein.