CRFU Carefree Group Inc (CE)

Carefree Group Inc. (Pink Sheets:CRFU) announced it has retained Bagell, Josephs, Levine & Company, LLC - a certified public accounting and business consulting firm - as the principal accounting firm for the Company, together with its subsidiaries, Aviation Flight Services, L.L.C. and Carefree Lifestyle, Inc. Bagell, Josephs, Levine & Company, L.L.C. (a BDO ALLIANCE MEMBER) is a leading provider of CPA and consulting services to public and non-public companies. In 2005 the firm was named to Bowman's Accounting Report of America's Top Auditors, ranking as 4th fastest growing firm based on total clients audited in 2005 vs 2004. Bagell, Josephs, Levine & Co. also ranked the 10th fastest growing based on average sales per public client audited, and the 5th largest based on total public company sales in 2005 v 2004. Bagell, Josephs, Levine & Company is currently consolidating Carefree Group�s financials for future certification. Upon completion, management stated it will announce the public auditing firm as well. �We are pleased to have Bagell, Josephs, Levine & Co. joining our team, and plan to post the unaudited financials, together with additional disclosure information, immediately upon completion of the consolidation of our subsidiary financial statements,� said Carefree Group CEO Gary Marotta. Miami Beach based Carefree Group, Inc. represents a consortium of assets and networks in the industry of luxury. The Company's interests include assets throughout the luxury travel, aviation, automotive, yachting, entertainment, and real estate industries. Carefree Group delivers an unsurpassed experience of luxury in accommodation, travel, entertainment, personal security, and premiere concierge services to its elite clientele. Members enjoy unrivaled privileges through the exclusive use of Carefree's inventory of luxury properties, exotic cars, yachts, private aircrafts, and superior concierge services and amenities. For more: www.carefreelifestyle.com. Safe Harbor Statement This release may include forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.