ATHENS, Greece, Dec. 12, 2011 /PRNewswire/ -- Fleet Management Solutions Inc. (OTC: FLMG.PK), a provider of numerous comprehensive automobile fleet management solutions, is pleased to announce that the company received a business valuation opinion from an independent firm, Valuation & Research Specialists (VRS).

Based on VRS's projections for the 5-year period 2011-2015 and applying the Discounted Cash Flow (DCF) methodology for a conservative growth scenario, the fair value of the Company accounts for euro 21,883,880 (more than US$29 million).

Valuation & Research Specialists have applied the DCF methodology which is the most widely accepted approach for corporate valuation and provides a greater depth of understanding of the Company's dynamics (note that the method incorporates best the Company's growth prospects over the next 5 years).

The DCF valuation, adopts the following procedure. By projecting the Company's operating profits, and then adjusting for taxes, depreciation, capital expenditures and working capital, then end up with the future free cash flows to the firm. Discounting those cash flows with the weighted average cost of capital (the interest rate that weighs both own capital and debt employed by a company), then end up with the Company's enterprise value, also known as EV that equals with equity value (or market capitalization) plus debt minus cash.

Fleet Management Solutions Inc. CEO Evangelos Alexandris stated, "The Valuation Opinion is within the range we were
expecting. We undertook this fair value to assist the FMS Board in evaluating potential transactions and be in a much better
position to make decisions in the best interest of FMS partners and shareholders."

About Fleet Management Solutions, Inc.

About FMS Inc.: FMS Greece (http://www.fms-greece.com/) is based in Athens, Greece and currently owns and operates 5 commercial locations with 65 full time employees. 

Fleet Management Solutions, Inc. provides a full spectrum of automobile fleet solutions, in the Country of Greece as well as the Balkans area.

FMS offers its clients (leasing companies and corporations) 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.

The Company's extended experience in the automobile business allows for the maintaining of a privileged position versus the competition, facilitating the opportunity to provide not only first class services, but also reduced cost solutions.

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.

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.

Contact Information:

Fleet Management Solutions, Inc.
40 Kifissou Ave. Renti,
Athens 18233
Greece
http://www.fms-greece.com
Phone: +30-211-10-38-888
Fax: +30-210-34-13-113
Email: info@fms-greece.com

SOURCE Fleet Management Solutions, Inc.

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http://www.fms-greece.com