FOR IMMEDIATE RELEASE—May 26, 2011 Media Contact: Fernando Mateo, NYS Federation of Taxi Drivers, (917) 295-2218 Michael Woloz, MTBOT, (646) 382-7171 or (212) 437-7373

Largest Livery and Yellow Taxi Organizations Unite in Support of the Mayor’s 5-Borough Taxi and

Livery Service Plan

Plan Would Generate $1.5 Billion In Revenue For NYC (New York, NY) The two largest livery and yellow taxi industry organizations, the New York State Federation of Taxi Drivers and the Metropolitan Taxicab Board of Trade, joined together in support of the Mayor’s recent proposal to auction 1,500 yellow taxi medallions that would be linked to a new fleet of 6,000 “borough taxis” that can pick up street hails only in the boroughs and Northern Manhattan. The medallion auction would generate $1.5 billion in revenue for New York City, a figure that could plug 30 percent of the $4.8 billion budget shortfall projected next year and will net the City, State, and MTA millions in recurring annual revenue. “Our drivers have literally poured our blood, sweat and tears into this business. We have provided an essential transportation service in neighborhoods where yellow taxis do not go and in many cases, risking their lives to earn a living,” said Fernando Mateo, founder and spokesperson for the New York State Federation of Taxi Drivers. “That being said, our drivers have been operating in the shadows, risking heavy fines and vehicle seizures from the TLC. Illegal street hails is no longer a viable and sustainable business. We need a plan that secures their future as legitimate street hail operators. The Mayor’s plan can accomplish this but it has to reserve a significant portion of these medallions and borough taxi licenses for livery drivers and livery bases.” The plan would give current livery drivers and bases a significant opportunity for economic empowerment—allowing them access to special City-backed financing that will provide a mechanism for them to purchase medallions. This unprecedented advantage means for the first time, drivers will have an opportunity to own equity and

become entrepreneurs in the legal street hail business – and will provide a distinct advantage for livery bases to operate legal street hail businesses. “Our memberships are certainly different and have disagreed on issues in the past,” said MTBOT President, Ron Sherman. “But while we differ on some details, this plan has unified us and we are in complete agreement that this plan provides the best opportunity for drivers, for the City’s coffers, and for the riding public.” Additionally, the plan sets out valuable safety measures, such as partitions and GPS systems, that will protect livery drivers from the threat of attacks and robberies they currently face. The proposed plan must receive approval from the State legislature before going to the New York City Council for a final vote. ### About the New York State Federation of Taxi Drivers: Founded in 1998, the New York State Federation Of Taxi Drivers is the largest livery and yellow taxi driver advocacy organization in New York City, with a membership of over 25,000. About the Metropolitan Taxicab Board of Trade: MTBOT is a 58-year-old trade association representing 31 yellow medallion taxi fleets that are comprised of more than 3,500 yellow medallion taxicabs – more than 25% of the taxi industry. MTBOT fleets lease taxis to more than 14,000 drivers and directly employs several hundred mechanics, dispatchers, managers and other personnel that ensure that taxi service is provided to the riding public 24 hours a day, 7 days a week and 365 days a year.