Feel Good Cars Corporation
TSX VENTURE : ZNN

Feel Good Cars Corporation

January 23, 2007 19:57 ET

Feel Good Cars Files Preliminary Short-Form Prospectus for an Offering of Common Shares

TORONTO, ONTARIO--(CCNMatthews - Jan. 23, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES.

Feel Good Cars Corporation ("Feel Good Cars") (TSX VENTURE:ZNN) today announced that it has filed a preliminary short-form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with a best efforts equity financing. The offering will be led by Paradigm Capital Inc. Final pricing and determination of the number of common shares to be sold under the offering will occur immediately prior to the filing of the (final) short form prospectus in respect of the offering.

Feel Good Cars expects to use the net proceeds from the Offering to repay $270,000 in unsecured short-term loans and interest thereon, approximately $2,100,000 to fund the payment of all future milestone payments to EEStor, Inc., $500,000 to fund product development and the balance for working capital and general corporate purposes.

Closing of the offering is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.

This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.

ABOUT FEEL GOOD CARS CORPORATION

www.ZENNcars.com

Headquartered in Toronto, Canada, Feel Good Cars Corporation, through its wholly owned subsidiary Feel Good Cars Inc. doing business as ZENN Motor Company produces zero-emission transportation solutions for global markets, including the revolutionary ZENN, a perfect new urban vehicle. Recently named Best Urban Vehicle at the coveted Michelin Bibendum Challenge, the ZENN demonstrates that real solutions to urban pollution and congestion are available now. The ZENN is sold through a growing network of retailers across the United States.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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