SOURCE: Fleet Management Solutions Inc.

January 03, 2011 16:00 ET

Fleet Management Solutions Continues to Increase Revenue

NAPLES, FL--(Marketwire - January 3, 2011) -  Fleet Management Solutions Inc. (FMS) (PINKSHEETS: FLMG) is pleased to announce that it has acquired a fleet of previously owned vehicles for the purpose of resale. FMS has acquired 85 vehicles to date, with the anticipation of increasing this inventory on an on-going basis. This transaction is expected to provide additional gross revenue of approximately $1,300,000 USD, or 1,000,000 Euros, over the next 12 months. The anticipated profit margin resulting from the resale of these vehicles is 19%, or approximately $250,000 USD (190,000 Euros).

In addition, the company would like to announce that it has signed a contract with Eternal SA, a car rental company based out of the island of Crete, to provide them with an inventory of 250 vehicles. This agreement should have an annual gross revenue turnover value of approximately $750,000 USD or 500,000 Euros.

Fleet Management Solutions Inc. CEO Evangelos Alexandris stated, "We are very encouraged with the solid increase of revenues our Company has produced. The outlook for the New Year is quite positive and hopefully will exceed expectations for the Company, our partners, and shareholders."

About FMS Inc.: FMS Greece ( is based in Athens, Greece and currently owns and operates 3 commercial locations with 26 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as a result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A. which has grown 311% in the last 3 years.

The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telemetric and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.

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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