Speedemissions, Inc. Reports Second Quarter Results

ATLANTA, Aug. 12, 2008 -- Speedemissions, Inc. (BULLETIN BOARD: SPMI) , a leading vehicle emissions testing and safety inspections company with 44 testing stores in Atlanta, Dallas, Houston, Salt Lake City and St. Louis today announced its results for the second quarter ended June 30, 2008.

For the quarter ended June 30, 2008, the Company reported record revenue of $2,609,000, up 5.7% from $2,469,000 in the same period last year. The Company incurred net loss of $174,000, or ($0.03) per basic and diluted share compared to net income of $102,000, or $0.03 per basic and $0.01 per diluted share in the comparable period year in 2007. Net loss was negatively affected by $225,000 in early operating losses experienced at the Company's new locations in Dallas, St. Louis and Houston during the three months ended June 30, 2008. Revenue from same stores sales decreased $98,000 or 4.0% in the quarter ended June 30, 2008. Same store net operating income in the three- month period ended June 30, 2008 increased $66,000 or 13.4% to $554,000 from $489,000 in the comparable period in 2007.

For the six months ended June 30, 2008, the Company reported record revenue of $5,093,000, up 4.3% from $4,881,000 in the same period last year. The Company incurred net loss of $349,000, or ($0.07) per basic and diluted share compared to net income of $50,000, or $0.02 per basic and $0.01 per diluted share in the comparable period year in 2007. Net loss was affected by $449,000 in early operating losses experienced at the Company's new locations in Dallas, St. Louis and Houston during the six months ended June 30, 2008. Revenue from same stores sales decreased $134,000 or 2.8% in the six months ended June 30, 2008. Same store net operating income in the six-month period ended June 30, 2008 increased $275,000 or 33.9% to $1,086,000 from $811,000 in the comparable period in 2007.

Richard A. Parlontieri, President/CEO of Speedemissions stated:

"We are encouraged by the increase in our same store net operating income despite lower same store sales. As expected, our investment in new stores in Houston, Dallas and St. Louis added additional revenue and operating expenses which contributed to the loss in the quarter and six months. We may continue to operate at a loss and our cash on hand may decrease as a result of the early operating losses at the new stores until they achieve the test volume necessary to break even. We are working extremely hard with our new store projects and look to improve on our results going forward."

About Speedemissions Inc.

Speedemissions, Inc., based in Atlanta, Georgia, is a leading vehicle emissions testing and safety inspections company in the United States. We provide services in certain areas where auto testing is mandated by the Environmental Protection Agency (EPA). Since the emissions testing market is highly fragmented, Speedemissions expects to be the first company to create a national brand offering their customers quick and efficient vehicle emissions testing service. The current focus of the company is in the Atlanta, Georgia; Dallas and Houston, Texas; Salt Lake City, Utah and St. Louis, Missouri markets.

Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Speedemissions' products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.