SOURCE: Fleet Managment Solutions Inc.

February 03, 2010 12:44 ET

FMS Appoints President and CEO

NAPLES, FL--(Marketwire - February 3, 2010) - Fleet Management Solutions Inc. (PINKSHEETS: FLMG) ("FMS" or the Company") has appointed Mr. Evangelos Alexandris to serve as the company's President and CEO effective immediately.

Mr. Alexandris founded FMS Hellas SA by orchestrating the merger of ABR Bosch Car Services and EDC Hellas S.A., and he has been instrumental in the phenomenal growth of the combined entity over the past 3 years. He has established a vast sales and servicing network in the automotive industry and his wealth of experience and leadership will be invaluable in the growth of FMS going forward. His initial duties will include appointing a Board of Directors and expanding a global sales network for the Company's innovative technologies and solutions in the automotive industries after sales services and re-marketing of leased vehicles.

After receiving a Bachelor of Science in Airplane Mechanics in 1985, Mr. Alexandris completed a Master's Degree in Airport Management from Southern Illinois University in Airplane Mechanics in 1987. From 1989 to 1992, he served as the Technical Manager for Bosch Car Service located in Virginia, Illinois where he specialized in automotive repairs and assisted in developing an effective sales and marketing program targeting local commercial and retail customers. From 2005, he has served as a Project Manager for Mondial Assistance and from 1990 he has served as the Owner and General Manager of ABR Service both located in Athens, Greece.

Mr. Alexandris commented, "I am excited about the Company's future prospects as we have already experienced a triple digit growth rate every year since we combined the 2 companies 3 years ago despite the global economic crisis. The fleet management services and solutions that we provide continue to gain market acceptance which is accelerating as the automotive industry continues to rebound."

Forward-looking Statement:

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at FMS's stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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