An anonymous director reports

ELEMENT ANNOUNCES PROPOSED PRIVATE OFFERING OF SENIOR NOTES

Element Fleet Management Corp. intends to sell senior unsecured notes in a proposed private offering that will not be registered under the United States Securities Act of 1933, as amended, subject to market and other conditions. The company intends to use the net proceeds from the offering: (i) to repay all of its outstanding indebtedness under its existing bilateral term loan facilities with Bank of Montreal and Canadian Imperial Bank of Commerce and pay related fees and expenses; and (ii) for working capital and general corporate purposes.

About Element Fleet Management Corp.

Element Fleet Management is the largest publicly traded pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of loyal, world-class clients -- corporations, governments and not-for-profits -- across North America, Australia and New Zealand. Element's services address every aspect of clients' fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing to integrating electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element's expertise as the largest fleet solutions provider in its markets, offering unmatched economies of scale and insight used to reduce fleet operating costs and improve productivity and performance.

We seek Safe Harbor.