Future Carz, Inc. Announces Acquisitions

21 December 2000

Future Carz, Inc. Announces Acquisitions

    SCOTTSDALE, Ariz.--Dec. 21, 2000--Future Carz, Inc., (OTCBB:FCZI) -- The Company is pleased to announce that is has signed an agreement to acquire 100% of the outstanding shares of Auto Central Discount, Inc. of San Diego, California.
    Terms of the deal are assumption of debt of $450,000.00 and the issuance of Two Million Shares (2,000,000) of Future Carz, Inc. stock for the shares of Auto Central Discount, Inc. The Company has also agreed to acquire all the assets including automobile leases, computers, furniture, fixtures, automobiles and any other hard assets owned by American Automotive Group, Inc. of Phoenix. The terms of this agreement call for the issuance of Three Million Shares (3,000,000) of Future Carz, Inc. stock. Future Carz, Inc. will also issue an additional One Million Shares (1,000,000) of its' common stock to retain and add key employees for this operation.
    Both Auto Central Discount, Inc. and American Automotive Group, Inc. are privately held consumer leasing companies specializing in high-margin automobile leasing. The companies offer the opportunity for consumers to acquire a high quality, pre-owned vehicle without meeting the criteria or requirements of traditional lending.
    Hal Crawford, currently Chairman of Future Carz, Inc., has hired Edward Heisler as President and Chief Operating Officer. He was most recently in a management capacity with Daimler Chrysler in Detroit. Larry Warren will become President of Auto Central Discount, Inc., which will include the assets being acquired from American Automotive Group, Inc. Larry is part of the founding family of American Automotive which will now be liquidated. Auto Central Discount, Inc. will operate as a wholly-owned subsidiary of Future Carz, Inc. and will be the leasing company. Future Carz, Inc. has moved its' operations to Scottsdale, Arizona. The above acquisitions will give Future Carz, Inc. leasing operations in San Diego, CA, Las Vegas, NV and Mesa and Phoenix, AZ.
    The issuance of the six million shares for the above transactions will require shareholder approval. We expect to file with the SEC and present this offer to the shareholders by mid-January.

    For further information kindly contact Edward Heisler at 480/363-3718.

    SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the Company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the Company's future performance and are subject to a number of risks and uncertainties that could cause the Company's actual results in the future materially to differ from the forward-looking statements.