Intelligent Motor Cars Revises November Sales Projections

FORT LAUDERDALE, Fla.--Nov. 2, 20031, 2003--Intelligent Motor Cars Group, Inc. (OTCBB:IMCG), today announced revised sales projections for November at its Fort Lauderdale Dealership.

"For the past couple of months, we've crushed our sales projections and November has been no different," reported Mike Magolnick, IMC's Chief Operating Officer. "In September we recorded 49 sales versus our projections of 30. In October we reported 67 sales versus our projections of 35. When we reported October sales, we changed our November projection to 50 sales. As of yesterday, November 20th, we've recorded 72 sales for the month to date and project that we'll close the month at 85 sales."

Actual results will be reported in the first week of December. Magolnick added that these sales figures do not include wholesale sales, only retail.

About Intelligent Motor Cars

Intelligent Motor Cars, Inc. d/b/a Sun Auto Leasing and Sales is a diverse South Florida car company, which provides, among other services, sales, service, reconditioning, and financing. For each year of the past four years, IMC's sales have doubled or better. In addition to retail sales, the Company focuses on wholesale, auction and Internet programs to market and sell vehicles to the financially challenged consumer market.

Certain statements in this press release constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Intelligent Motor Cars Group, Inc. ("the Company"), or automobile related industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements, including that the Company's current revenue levels are not necessarily indicative of its future revenue levels or future financial performance. The Company's future operating results are dependent upon many factors, including: (i) whether the Company is able to obtain sufficient funding to fund its expansion plans; (ii) whether the Company is able to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments in the automobile industry; (iv) federal, state and local regulations pertaining to health and environmental quality standards; licensing/registration; financing; consumer protection; and safety; (v) the Company's ability to collect on receivables from high risk credit clients; (vi) the Company's ability to efficiently price and negotiate acquisitions on a favorable basis; (vii) whether the Company's efficiently integrates the operations of other automobile dealerships it may acquire; and (viii) any negative economic conditions that would negatively affect the Company's business and expansion plans. Further information regarding the Company's business and its financial results may be obtained from Company's periodic and other filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings."