Fleet Management Solutions Shareholder Letter

NAPLES, Fla., June 21, 2011 /PRNewswire/ -- Fleet Management Solutions Inc. (OTC:FLMG.PK), a provider of numerous comprehensive automobile fleet management solutions in Greece and other Balkan Nations, today is releasing a letter to its shareholders from its President and CEO, Evangelos Alexandris.

Dear Shareholders,

I wanted to take this opportunity to discuss the strong financial performance of Fleet Management Solutions, Inc., so far during our fiscal year.  We are very proud of what we have accomplished and have a great deal of confidence in our future.   While our business is growing and profitable, it is impossible not to wonder how the ongoing Greek debt crisis is impacting our company.  

With the news last week that Standard & Poor's has downgraded Greece's debt to the world's lowest rating, I am not surprised that investors are concerned.  Since we are a Greek-based company, shareholders naturally assume that Greece's problems are FLMG's problem.  Nothing could be farther from the truth.

Our company enjoyed both record earnings and profits for our third fiscal quarter. Our accountants are finishing up the financials and we are expecting to release these numbers in the very near future.

Our 5 current fleet locations are enjoying record business and we are adding customers (banks, corporations, leasing companies) on a frequent basis, who are looking to reduce costs.

In fact, FLMG is in the strongest financial condition of its history.  And, we expect to meet our revenue guidance of $15MM despite economic problems in our main market.  We also expect to show a record third quarter profit and a full year profit for the year ended June 30, 2011.

How the Greek crisis has affected our business.

Our clients outsource many functions and duties related to their corporate fleets and cars on lease to FLMG.  Our services include 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. Our arrays of services are designed to reduce the costs of ownership and management of automobiles and trucks for our customers.  With the uncertainty inherent in Greece currently, we have actually seen an increase in our business over the past few fiscal quarters.

We are monitoring the situation along with the rest of the world.  We continue to be the low-cost provider of essential fleet services in our markets and feel very confident in our own performance and future prospects.  

Future Plans

The company continues to grow organically from its 5 current locations.  We are actively evaluating several new sites where we can open and run profitable branches.  

We are also evaluating several potential acquisitions as our strong balance sheet and cash position gives us opportunity to increase our network in Greece and the Balkans at attractive prices.

We will announce any agreements or letters of understandings as they are signed.

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:

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: [email protected]

SOURCE Fleet Management Solutions, Inc.