SOURCE: Fleet Management Solutions Inc.

December 16, 2010 08:15 ET

Fleet Management Solutions Inc. Addresses Short Position Report

NAPLES, FL--(Marketwire - December 16, 2010) - Fleet Management Solutions Inc. (FMS) (PINKSHEETS: FLMG) would like to update its shareholders regarding the short selling trading report for December 15, 2010. According to the FINRA report, Fleet Management Solutions has a short trading position of 211,000 shares; the previous day, December 14, 2010, the total short position was 270,000 shares which would be approximately 70% of the total day's trading. The company feels that this short selling has created erratic trading, especially near the close of the day, forcing the share price down. As previously announced, the company is still in the process of filing with Pink Sheets to increase the disclosure status to the Pink Sheets' "current information" tier.

Fleet Management Solutions Inc. CEO Evangelos Alexandris stated, "Our Company is solid and has increased revenue projections from 7,500,000 to 15,000,000 USD despite economic obstacles. The company has a very aggressive business model and has exceeded all projections. It is disconcerting to see short selling on a company such as ours with significant revenues and future potential."

To view short trading reports go to:

About FMS Inc.: FMS Greece ( is based in Athens, Greece and currently owns and operates 6 commercial locations with 65 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, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles.

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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