Carefree Group, Inc. (CRFE) Reduces Shares Authorized; Announces Share Structure.

MIAMI -- Carefree Group, Inc. (Pink Sheets:CRFE) today announced that the Company has reduced the total number of shares which the Company is authorized to issue to seven hundred sixty million (760,000,000). Seven hundred fifty million (750,000,000) shares are designated as common stock, each having a par value of $0.0000001 per share, and ten million (10,000,000) shares are designated as preferred stock, each having a par value of $0.0000001 per share. Additionally, after completion of the Company's previously announced share repurchase, the current number of shares of common stock issued and outstanding is one hundred twenty seven million four hundred fifteen thousand (127,415,000), and the current number of shares of preferred stock issued and outstanding is five million (5,000,000).

About Carefree Group, Inc.: Carefree Group, Inc. through its subsidiaries delivers an unsurpassed experience of luxury in accommodation, travel, entertainment, personal security, and premier 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 aircraft, and superior concierge services and amenities.

Statements included in this press release that do not relate to present or historical conditions may constitute "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve risks and uncertainties that could cause results or outcomes to differ materially from those expressed in the forward-looking statements. Forward-looking statements may include, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions and are intended to be made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Important factors that could cause such differences include, but are not limited to: (i) industry competition, conditions, performance and consolidation, (ii) legislative and/or regulatory developments, (iii) the effects of adverse general economic conditions, both within the United States and globally, (iv) any adverse economic or operational repercussions from terrorist activities, war or other armed conflicts and (v) other factors. Forward-looking statements speak only as of the date the statements are made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.