<PAGE>   1
                                                                     Exhibit 2.3

                              AMENDED AND RESTATED
                            STOCK PURCHASE AGREEMENT


                                      AMONG


                        SUPERSHUTTLE INTERNATIONAL, INC.,


                       AAA WHEELCHAIR WAGON SERVICES, INC.


                        WHEELCHAIR AMBULANCE OF HOLLYWOOD


                        LIMOUSINES OF SOUTH FLORIDA, INC.


                           A1A SNOWBIRD LEASING, INC.


                                       AND


                                 KAREN N. CAPUTO



                                 APRIL 30, 1998
<PAGE>   2
                              AMENDED AND RESTATED
                            STOCK PURCHASE AGREEMENT


<TABLE>
<CAPTION>
<S>                                                                                                              <C>
ARTICLE 1.........................................................................................................1

THE STOCK PURCHASE................................................................................................1
         1.1      Basic Transaction...............................................................................2
         1.2      Effective Time; Closing Date....................................................................3
         1.3      Articles of Incorporation and Bylaws............................................................3
         1.4      Deliveries at the Effective Time................................................................3
         1.5      Closing of AAA-LSF Transfer Books...............................................................3
         1.6      Lost, Stolen or Destroyed Certificates..........................................................3
         1.7      Taking of Necessary Action; Further Action......................................................3
         1.8      Tax Treatment...................................................................................3

ARTICLE 2
REPRESENTATIONS AND WARRANTIES OF SUPERSHUTTLE....................................................................4
         2.1      Organization and Qualification..................................................................4
         2.2      Authority Relative to This Agreement............................................................4
         2.3      Capitalization..................................................................................4
         2.4      Financial Statements............................................................................5
         2.5      Subsidiaries....................................................................................5
         2.6      Litigation......................................................................................5
         2.7      Brokers' Fees...................................................................................6
         2.8      Compliance With Laws; Permits; Certain Operations...............................................6
         2.9      Absence of Undisclosed Liabilities..............................................................6
         2.10     No Material Adverse Changes.....................................................................7
         2.11     Other Agreements................................................................................7
         2.12     Disclosure......................................................................................7
         2.13     Liens...........................................................................................7

ARTICLE 3
REPRESENTATIONS AND WARRANTIES OF AAA-LSF AND THE SHAREHOLDER.....................................................7
         3.1      Organization and Qualification..................................................................8
         3.2      Authority Relative to This Agreement............................................................8
         3.3      Capitalization..................................................................................8
         3.4      Financial Statements............................................................................9
         3.5      Subsidiaries....................................................................................9
         3.6      Absence of Undisclosed Liabilities..............................................................9
         3.7      No Material Adverse Changes....................................................................10
         3.8      Absence of Certain Developments................................................................10
</TABLE>

                                       i
<PAGE>   3
<TABLE>
<CAPTION>
<S>                                                                                                              <C>
         3.9      Title to and Condition of Properties...........................................................12
         3.10     Environmental Matters..........................................................................13
         3.11     Accounts Receivable............................................................................13
         3.12     Tax Matters....................................................................................13
         3.13     Contracts and Commitments......................................................................14
         3.14     Restrictions on Business Activities............................................................15
         3.15     Intellectual Property Rights...................................................................15
         3.16     Litigation.....................................................................................15
         3.17     Brokers' Fees..................................................................................16
         3.18     Employment.....................................................................................16
         3.19     Employee Benefit Plans.........................................................................16
         3.20     Insurance......................................................................................16
         3.21     Insider Transactions...........................................................................16
         3.22     Compliance With Laws; Permits; Certain Operations..............................................16
         3.23     Disclosure.....................................................................................17
         3.24     Minute Books...................................................................................17
         3.25     Compensation...................................................................................17
         3.26     Medicaid and Other Third Party Payor Matters...................................................17

ARTICLE 4
ADDITIONAL REPRESENTATIONS AND WARRANTIES OF SHAREHOLDER.........................................................18
         4.1      Organization, Standing and Authority of Shareholder............................................18
         4.2      Execution and Delivery; No Conflicts...........................................................18
         4.3      Consents and Approvals.........................................................................18
         4.4      Brokers........................................................................................19
         4.5      Securities Laws Compliance.....................................................................19
         4.6      Shareholder Experience and Investment Representations..........................................19

ARTICLE 5
CONDUCT PENDING AND SUBSEQUENT TO THE EXCHANGE...................................................................20
         5.1      Conduct of Business Pending the Exchange.......................................................20
         5.2      Conduct Subsequent to the Exchange.............................................................21
         5.3      SuperShuttle Recision Right ...................................................................22
         5.4      Conduct by SuperShuttle........................................................................22

ARTICLE 6
ADDITIONAL AGREEMENTS............................................................................................23
         6.1      Expenses.......................................................................................23
         6.2      No Negotiations................................................................................23
         6.3      Notification of Certain Matters................................................................23
         6.4      Access to Information; Confidentiality.........................................................24
         6.5      Consents; Approvals............................................................................24
         6.6      Supplements to Disclosure Schedules............................................................24
         6.7      Non-Solicitation of Employees..................................................................24
         6.8      Election of Directors..........................................................................25
</TABLE>

                                       ii
<PAGE>   4
<TABLE>
<CAPTION>
<S>                                                                                                              <C>
         6.9      Confidential Information and Covenant Not To Compete...........................................25
         6.10     Collateral and/or Guarantees for Certain AAA-LSF Loans.........................................26
         6.11     Shareholder Loans..............................................................................26
         6.12     Tax Treatment..................................................................................26

ARTICLE 7
CONDITIONS.......................................................................................................27
         7.1      Conditions to Obligations of Each Party to Effect the Exchange.................................27
         7.2      Additional Conditions to Obligations of SuperShuttle...........................................27
         7.3      Additional Conditions to Obligation of AAA-LSF.................................................29
         7.4      Conditions to the Closing......................................................................30
         7.5      Other Deliveries...............................................................................30

ARTICLE 8
TERMINATION, AMENDMENT AND WAIVER ...............................................................................31
         8.1      Termination....................................................................................31
         8.2      Effect of Termination..........................................................................31
         8.3      Amendment......................................................................................31
         8.4      Waiver.........................................................................................32

ARTICLE 9
GENERAL PROVISIONS...............................................................................................32
         9.1      Survival of Representations and Warranties.....................................................32
         9.2      Public Announcements...........................................................................32
         9.3      Notices........................................................................................32
         9.4      Interpretation.................................................................................33
         9.5      Schedules and Exhibits.........................................................................33
         9.6      Severability...................................................................................33
         9.7      Jurisdiction; Venue; Service of Process........................................................33
         9.8      Waiver of Jury Trial...........................................................................34
         9.9      Miscellaneous..................................................................................34
</TABLE>

                                       iii
<PAGE>   5
                         INDEX OF EXHIBITS AND SCHEDULES


<TABLE>
<CAPTION>
<S>                       <C>
Exhibit "A"                Registration Rights Agreement

Exhibit "B"                Form of Articles of Incorporation of AAA-LSF

Exhibit "C"                Form of Bylaws of AAA-LSF

Exhibit "D                 Employment Agreement

Schedule "1.1(a)"          List of Assets and Method of Transfer

Schedule "1.1(b)"          List of Assets to be Transferred from AAA-LSF
</TABLE>

                                       iv
<PAGE>   6
                  AMENDED AND RESTATED STOCK PURCHASE AGREEMENT

         This AMENDED AND RESTATED STOCK PURCHASE AGREEMENT (the "Agreement") is
made as of April 30, 1998 by and among SUPERSHUTTLE INTERNATIONAL, INC., a
Delaware corporation ("SuperShuttle"); AAA WHEELCHAIR WAGON SERVICES, INC., a
Florida corporation, WHEELCHAIR AMBULANCE OF HOLLYWOOD, INC., a Florida
corporation, LIMOUSINES OF SOUTH FLORIDA, INC., a Florida corporation, and A1A
SNOWBIRD LEASING, INC. (collectively, "AAA-LSF"); and
Karen N. Caputo ("Shareholder") and amends and restates in its entirety that
certain Stock Purchase Agreement, dated March 31, 1998, by and among
SuperShuttle, AAA-LSF and the Shareholder.

                                    RECITALS

         A. SuperShuttle and AAA-LSF are parties to a letter agreement dated
February 25, 1998 (the "Letter of Intent"), and SuperShuttle, AAA-LSF and
Shareholder are parties to that certain Stock Purchase Agreement dated March 31,
1998, which contemplates the acquisition by SuperShuttle of all of the
outstanding capital stock of AAA-LSF.

         B. The Shareholder currently owns all of the issued and outstanding
shares of capital stock of AAA-LSF, with Shareholder owning the number of shares
set forth opposite Shareholder's name on Schedule 1.

         C. The Shareholder is joined herein for purposes of affirming the
representations and warranties made in Article 3, and to otherwise be bound
hereto for the obligations of AAA-LSF for which she is jointly and severally
liable.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements herein contained, the parties agree as follows:

                                    ARTICLE 1
                               THE STOCK PURCHASE


         1.1 Basic Transaction.

                      (a) On and subject to the terms and conditions of this
         Agreement, SuperShuttle agrees to purchase from the Shareholder, and
         the Shareholder agrees to sell to SuperShuttle, all of her shares of
         capital stock of AAA-LSF (the "AAA-LSF Common Stock") and the
         Shareholder agrees to purchase from SuperShuttle, and SuperShuttle
         agrees to sell to the Shareholder, 419,521 shares of Common Stock,
         $0.01 par value per share, of SuperShuttle (the "SuperShuttle Common
         Stock"). The aggregate number of shares of SuperShuttle Common Stock to
         be issued in order to give effect to this provision will represent six
         percent (6%) on a fully-diluted basis of the total number of
         outstanding shares

                                        1
<PAGE>   7
         of SuperShuttle Common Stock when issued (after giving effect to any
         SuperShuttle Common Stock issued in connection with the contemporaneous
         acquisitions of the Los Angeles and Orange County franchisees and
         Southern Shuttle Services, Inc. and the conversion of the currently
         outstanding shares of SuperShuttle's Series B Convertible Preferred
         Stock into shares of SuperShuttle Common Stock).

                      The number of shares of SuperShuttle Common Stock to be
         issued to the Shareholder shall be adjusted to reflect fully the effect
         of any stock split, reverse split, stock dividend (including any
         dividend or distribution of securities convertible into SuperShuttle
         Common Stock or AAA-LSF Common Stock), reorganization, recapitalization
         or other like change with respect to SuperShuttle Common Stock or AAA-
         LSF Common Stock occurring after the date hereof and prior to the
         Effective Time, but shall not be adjusted for the exercise of any
         outstanding SuperShuttle options or warrants convertible into
         SuperShuttle Common Stock. No fractional shares of SuperShuttle Common
         Stock shall be issued. Fractional shares of such stock shall be rounded
         up to the nearest whole share.

                      (b) SuperShuttle agrees to grant the Shareholder
         registration rights pursuant to the terms of the Registration Rights
         Agreement, a form of is attached hereto as Exhibit "A."

                      (c) As an incident to the share exchange transactions and
         as a predicate and condition to them, certain assets are required to be
         transferred into AAA-LSF or other accommodations made in order to
         effect the purpose of allowing AAA-LSF to operate the business of
         AAA-LSF as presently conducted. In this regard, the assets described on
         Schedule 1.1(a) attached hereto and incorporated by reference herein
         shall be assigned to AAA-LSF immediately prior to the Effective Time.
         It is acknowledged by the parties hereto that any and all radio
         frequencies, real estate interests, permits, and similar assets
         necessary to the conduct of the business of AAA-LSF immediately prior
         to the Effective Time shall be and become the property of AAA-LSF
         effective upon the Exchange through the processes described on Schedule
         1.1(a) without any further form of consideration or payment owing to
         AAA-LSF or the Shareholder. As an incident to the share exchange
         transactions and as a predicate and condition to them, certain assets
         are required to be transferred from AAA-LSF to third parties or
         affiliates. In this regard, the assets described on Schedule 1.1(b)
         attached hereto and incorporated by reference herein and any
         indebtedness relating hereto shall be transferred to the party
         identified therein on or before April 30, 1998. The transactions
         contemplated by Schedules 1.1(a) and 1.1(b) are a fundamental part of
         this Agreement and the consummation of those transactions is a
         condition to the effectiveness of the Agreement.

         1.2 Effective Time; Closing Date. The date and time when the share
exchange shall become effective, March 31, 1998, is referred to as the
"Effective Time." The closing of the transaction contemplated hereunder (the
"Closing") shall occur upon the earlier of (i) the

                                        2
<PAGE>   8
satisfaction or waiver of the conditions provided at Article 7, or (ii) April
30, 1998 (the "Closing Date") at the offices of Shareholder's counsel, or such
other place as the parties may agree.

         1.3 Articles of Incorporation and Bylaws. The Articles of Incorporation
and the Bylaws of each of the AAA-LSF entities shall be restated in the forms of
Exhibits "B" and "C" hereto and incorporated herein.

         1.4 Deliveries at the Effective Time. At the Effective Time, the
Shareholder shall surrender the certificate or certificates representing shares
of AAA-LSF Common Stock to the Escrow Agent. Promptly following surrender,
SuperShuttle shall issue the SuperShuttle Common Stock to the Escrow Agent
pursuant to Section 1.1. The certificates of AAA-LSF Common Stock surrendered to
Escrow Agent shall be duly endorsed and otherwise in proper form for transfer as
SuperShuttle may require. SuperShuttle shall not be obligated to deliver the
consideration to which Shareholder is entitled as a result of the share exchange
until Shareholder surrenders her certificate or certificates representing the
shares of AAA-LSF Common Stock to be exchanged.

         1.5 Closing of AAA-LSF Transfer Books. At the Effective Time, the stock
transfer books of AAA-LSF shall be closed and no transfer of shares of AAA-LSF
Common Stock issued and outstanding immediately prior to the Effective Time
shall thereafter be made (except as provided for or contemplated in Section 1.1
above).

         1.6 Lost, Stolen or Destroyed Certificates. In the event any
certificates representing shares of AAA-LSF Common Stock shall have been lost,
stolen or destroyed, SuperShuttle shall issue in exchange for such lost, stolen
or destroyed certificates, upon the making of an affidavit of that fact by the
holder thereof, such shares of SuperShuttle Common Stock as required pursuant to
Section 1.1; provided, however, that SuperShuttle may, in its discretion and as
a condition precedent to the issuance thereof, require the owner of such lost,
stolen or destroyed certificates to deliver an indemnity agreement in such form
as SuperShuttle may reasonably direct as indemnity against any claim that may be
made against SuperShuttle with respect to the certificates alleged to have been
lost, stolen or destroyed.

         1.7 Taking of Necessary Action; Further Action. SuperShuttle, on the
one hand, and AAA-LSF on the other hand, shall use reasonable best efforts to
take all such actions (including, without limitation, actions to cause the
satisfaction of the conditions of the other to effect the share exchange) as may
be necessary or appropriate in order to effectuate the Exchange as promptly as
possible. If, at any time after the Effective Time, any further action is
necessary or desirable to carry out the purposes of this Agreement, the officers
and directors of the SuperShuttle are fully authorized in the name of AAA-LSF or
otherwise to take, and shall take, all such lawful and necessary actions.

         1.8 Tax Treatment. The parties hereto acknowledge and agree that the
transactions contemplated hereby are intended to be a tax free reorganization
under Section 368(a)(1)(B) of the U.S. Internal Revenue Code of 1986, as amended
(the "Code").

                                        3
<PAGE>   9
                                    ARTICLE 2
                 REPRESENTATIONS AND WARRANTIES OF SUPERSHUTTLE

         SuperShuttle hereby represents and warrants to AAA-LSF as of the date
hereof, and again at the Effective Time (subject to any changes permitted or
contemplated hereby), each of the following, except to the extent set forth in
the disclosure schedule that has been delivered to AAA-LSF hereunder (the
"SuperShuttle Disclosure Schedule"):

         2.1 Organization and Qualification. SuperShuttle is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware and has the requisite corporate power and authority to own and operate
its properties and to carry on its business as now conducted in every
jurisdiction where the failure to do so would have a material adverse effect on
its business, properties or ability to conduct the business currently conducted
by it. The copies of the Certificate of Incorporation and Bylaws of SuperShuttle
previously furnished to AAA-LSF are correct and complete and reflect all
amendments thereto.

         2.2 Authority Relative to This Agreement. SuperShuttle has the
requisite corporate power and authority to enter into this Agreement and to
carry out its obligations hereunder. The execution and delivery of this
Agreement by SuperShuttle and the consummation by SuperShuttle of the
transactions contemplated hereby have been duly authorized by SuperShuttle, and
no other corporate proceedings on the part of SuperShuttle are necessary to
authorize this Agreement and such transactions. This Agreement has been duly
executed and delivered by SuperShuttle and, assuming the due authorization,
execution and delivery by AAA-LSF, constitutes a valid and binding obligation of
SuperShuttle, enforceable in accordance with its terms, except as the
enforceability thereof may be limited by bankruptcy, insolvency, reorganization
or other similar laws relating to the enforcement of creditors' rights generally
and by general principles of equity. Except as set forth in the SuperShuttle
Disclosure Schedule, SuperShuttle is not subject to, or obligated under, any
provision of (a) its Certificate of Incorporation or Bylaws, (b) any material
agreement, arrangement or understanding, (c) any material license, franchise or
permit, or (d) any law, regulation, order, judgment or decree, which would be
breached or violated, or in respect of which a right of termination or
acceleration would arise or any encumbrance on any of its or any of its
subsidiaries' assets would be created, by its execution, delivery and
performance of this Agreement and the consummation by it of the transactions
contemplated hereby. No authorization, consent or approval of, or filing with,
any public body, court or authority is necessary on the part of SuperShuttle for
the consummation by SuperShuttle of the transactions contemplated by this
Agreement.

         2.3 Capitalization. The authorized equity capitalization of
SuperShuttle consists of 20,000,000 shares of SuperShuttle Common Stock and
5,000,000 shares of Preferred Stock, $0.01 par value per share ("SuperShuttle
Preferred Stock"). As of March 31, 1998, 2,760,860 shares of SuperShuttle Common
Stock and 479,475 shares of SuperShuttle Preferred Stock are issued and
outstanding, all of which shares are duly authorized, validly issued, fully paid
and nonassessable. The SuperShuttle Common Stock when issued to the Shareholder
will be duly authorized, validly issued, fully paid and non-assessable shares of
SuperShuttle.

                                        4
<PAGE>   10
         Except as set forth in Section 2.3 of the SuperShuttle Disclosure
Schedule, there are no options, warrants, call, conversion privileges or other
rights, agreements, arrangements or commitments obligating SuperShuttle to issue
or sell any shares of capital stock or securities or obligations of any kind
convertible into or exchangeable for any shares of capital stock thereof or of
any other corporation, nor are there any stock appreciation, phantom stock or
similar rights outstanding based upon the book value or any other attribute of
SuperShuttle. No holders of outstanding shares of SuperShuttle Common Stock are
entitled to preemptive or other similar rights.

         There are no obligations, contingent or otherwise, of SuperShuttle or
any of its subsidiaries to repurchase, redeem or otherwise acquire any shares of
SuperShuttle Common Stock or the capital stock of any subsidiary or to provide
funds to or make any investment (in the form of a loan, capital contribution or
otherwise) in any such subsidiary or any other entity. All of the outstanding
shares of capital stock of each of SuperShuttle's subsidiaries are duly
authorized, validly issued, fully paid and nonassessable and, except as
disclosed in the SuperShuttle Disclosure Schedule, all such shares are owned by
SuperShuttle free and clear of all security interests, liens, claims, pledges,
agreements, limitations in SuperShuttle's voting rights, charges or other
encumbrances of any nature whatsoever.

         2.4 Financial Statements. SuperShuttle has delivered a balance sheet
dated as of February 28, 1998, and other financial statements for the years
ended September 30, 1997 and September 30, 1996 audited by Deloitte & Touche LLP
to AAA-LSF (collectively, the "SuperShuttle Financial Statements.") The
SuperShuttle Financial Statements were prepared in accordance with generally
accepted accounting principles applied on a consistent basis throughout the
periods involved and present fairly the consolidated financial position, results
of operations, and cash flows of SuperShuttle and its consolidated subsidiaries
as of the dates and for the periods indicated therein, subject, in the case of
unaudited interim statements, to normal year-end accounting adjustments and the
absence of complete footnote disclosure.

         2.5 Subsidiaries. Except as set forth in the SuperShuttle Disclosure
Schedule, SuperShuttle does not have any subsidiaries and does not otherwise own
any stock, partnership interest, joint venture interest, or any other security
issued by or equity interest in any other corporation, organization or entity.
For purposes hereof, the term "subsidiary" means any corporation of which
securities having a majority of the ordinary voting power in electing directors
are owned directly or indirectly by a party. Unless the context requires
otherwise, the term "SuperShuttle" shall hereafter refer to SuperShuttle and/or
its Subsidiaries.

         2.6 Litigation. Except as set forth in the SuperShuttle Disclosure
Schedule or the SuperShuttle Financial Statements, there are no actions, suits,
proceedings, orders or investigations pending or, to the knowledge of
SuperShuttle, threatened against SuperShuttle, at law or in equity, or before or
by any federal, state, municipal or other governmental department, commission,
board, bureau, agency or instrumentality, domestic or foreign, which, if
determined adversely to SuperShuttle, would result in a material adverse effect
to SuperShuttle's operations and financial condition, and there is no basis
known to SuperShuttle for any of the foregoing.

                                        5
<PAGE>   11
Except as set forth in the SuperShuttle Disclosure Schedule, SuperShuttle has
not received any opinion or legal advice to the effect that SuperShuttle is
exposed from a legal standpoint to any material liability. No governmental
entity has at any time challenged or questioned the legal right of SuperShuttle
to offer or provide any of its services in the present manner or style thereof.

         2.7 Brokers' Fees. SuperShuttle is not liable for any brokerage
commissions, finders' fees or similar compensation in connection with the
transactions contemplated by this Agreement.

         2.8 Compliance With Laws; Permits; Certain Operations. SuperShuttle and
its officers, directors, agents and employees have complied in all material
respects with all applicable laws and regulations of foreign, federal, state and
local governments and all agencies thereof which affect the business or any
owned or leased properties of SuperShuttle and to which SuperShuttle may be
subject, and no claims have been filed against SuperShuttle alleging a violation
of any such law or regulation, except as set forth in the SuperShuttle
Disclosure Schedule. Without limiting the generality of the foregoing,
SuperShuttle has not violated, or received a notice or charge asserting any
violation of, the Occupational Safety and Health Act of 1970, or any other state
or federal acts (including rules and regulations thereunder) regulating or
otherwise affecting employee health and safety. SuperShuttle has not given or
agreed to give any money, gift or similar benefit (other than incidental gifts
of articles of nominal value) to any actual or potential customer, supplier,
governmental employee or any other person in a position to assist or hinder
SuperShuttle in connection with any actual or proposed transaction. SuperShuttle
holds all permits, licenses, certificates and other authorizations of foreign,
federal, state and local governmental agencies required for the conduct of its
business, including specifically the permits, licenses, certificates and other
authorizations described in Section 2.8 of the SuperShuttle Disclosure Schedule.

         2.9 Absence of Undisclosed Liabilities. SuperShuttle has no obligations
or liabilities whether accrued, absolute, contingent, liquidated or otherwise
whether due or to become due regardless of when asserted, except:

                      (a)  To the extent reflected or taken into account in its
                           September 30, 1997 financial statement and not
                           heretofore paid or discharged,

                      (b)  To the extent specifically set forth in or
                           incorporated by reference in the SuperShuttle
                           Disclosure Schedules,

                      (c)  Liabilities incurred in the ordinary course of
                           business consistent with past practice since the date
                           of the September 30, 1997 financial statement (none
                           of which relates to breach of contract, breach of
                           warranty, tort, infringement or violation of law, or
                           which arose out of any action, suit, claim,
                           governmental investigation or arbitration
                           proceeding),

                                        6
<PAGE>   12
                      (d)  Normal accruals, reclassifications, and audit
                           adjustments which would be reflected on an audited
                           financial statement,

                      (e)  Liabilities incurred in the ordinary course of
                           business, and

                      (f)  Liabilities which are not material in scope or
                           amount.

         2.10 No Material Adverse Changes. Except as set forth in the
SuperShuttle Disclosure Schedule since December 31, 1997, there has not been any
material adverse change in the assets, financial condition or operating results
of SuperShuttle, taken as a whole.

         2.11 Other Agreements. SuperShuttle has not entered or will enter into
any agreement with Tamarack Transportation, Inc., Preferred Transportation,
Inc., or Southern Shuttle Services, Inc. (the "Target Companies") or any
shareholders of such Target Companies other than share exchange agreements,
merger agreements, registration rights agreements and employment agreements.
Such agreements contain terms no less favorable than those set forth in this
agreement, the registration rights agreement and the employment agreements
entered into by the Shareholder.

         2.12 Disclosure. Neither this Agreement nor any of the schedules or
exhibits hereto contains any untrue statement of a material fact or omits a
material fact necessary to make the statements contained herein or therein, in
light of the circumstances in which they were made, not misleading, and there is
no fact which has not been disclosed to AAA-LSF that materially affects
adversely or could reasonably be anticipated to materially affect adversely the
assets, financial condition or operating results, customer, employee or supplier
relations, business condition or prospects, or financing arrangements of
SuperShuttle.

         2.13 Liens. SuperShuttle is not a party to any loan, indebtedness,
security agreement, loan agreement, guarantee or financing statement which shall
upon the Closing Date or thereafter subject the Transferred Assets (as defined
in Section 5.3) to a lien, pledge, charge or encumbrance.

                                    ARTICLE 3
                  REPRESENTATIONS AND WARRANTIES OF AAA-LSF AND
                                 THE SHAREHOLDER

         Each of the AAA-LSF entities and the Shareholder hereby represent and
warrant to SuperShuttle as of the date hereof, and again at the Effective Time
(subject to any changes permitted or contemplated hereby), each of the
following, all of which are made jointly and severally by AAA-LSF and the
Shareholder who agree to be bound to and liable for the representations and
warranties set forth below and all other obligations of AAA-LSF under this
Agreement. Each of the following representations and warranties are qualified to
the extent set forth in the disclosure schedule that has been delivered to
SuperShuttle simultaneously with the execution and delivery of this Agreement
(the "AAA-LSF Disclosure Schedule"). The AAA-LSF

                                        7
<PAGE>   13
Disclosure Schedule describes exceptions to each applicable representation below
by section numbers corresponding to the section number of the applicable
qualified representation.

         3.1 Organization and Qualification. AAA-LSF is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Florida, and has the requisite corporate power and authority to own and operate
its properties and to carry on its business as now conducted in every
jurisdiction where the failure to do so would have a material adverse effect on
its business, properties or ability to conduct the business currently conducted
by it. The copies of the Articles of Incorporation and Bylaws of AAA-LSF
previously furnished to SuperShuttle are correct and complete and reflect all
amendments thereto.


         3.2 Authority Relative to This Agreement. AAA-LSF has the requisite
corporate power and authority to enter into this Agreement and to carry out its
obligations hereunder. The execution and delivery of this Agreement by AAA-LSF
and the consummation by AAA-LSF of the transactions contemplated hereby have
been duly authorized by AAA-LSF, and no other corporate proceedings on the part
of AAA-LSF are necessary to authorize this Agreement and such transactions
(other than the approval of the Shareholder). This Agreement has been duly
executed and delivered by AAA-LSF and, assuming the due authorization and
delivery thereof by SuperShuttle, constitutes a valid and binding obligation of
AAA-LSF, enforceable in accordance with its terms, except as the enforceability
thereof may be limited by bankruptcy, insolvency, reorganization or other
similar laws relating to the enforcement of creditors' rights generally and by
general principles of equity. Except as set forth in the AAA-LSF Disclosure
Schedule, AAA-LSF is not subject to, or obligated under, any provision of (a)
its Articles of Incorporation or Bylaws, (b) any material agreement, arrangement
or understanding, (c) any material license, franchise or permit, or (d) any law,
regulation, order, judgment or decree, which would be breached or violated, or
in respect of which a right of termination or acceleration would arise or any
encumbrance on any of its or its subsidiaries' assets would be created, by
AAA-LSF's execution, delivery and performance of this Agreement and the
consummation by it of the transactions contemplated hereby. No authorization,
consent or approval of, or filing with, any public body, court or authority is
necessary on the part of AAA-LSF for the consummation by AAA-LSF of the
transactions contemplated by this Agreement.

         3.3 Capitalization. The authorized equity capitalization of AAA
Wheelchair Wagon Services, Inc. consists of 1,000 shares of Common Stock and as
of the date hereof, 1,000 shares of Common Stock are issued and outstanding, all
of which shares are validly issued, fully paid and non-assessable. The
authorized equity capitalization of Wheelchair Ambulance of Hollywood, Inc.
consists of 100 shares of Common Stock and as of the date hereof, 100 shares of
Common Stock are issued and outstanding, all of which shares are validly issued,
fully paid and non-assessable. The authorized equity capitalization of
Limousines of South Florida, Inc. consists of 100 shares of Common Stock and as
of the date hereof, 100 shares of Common Stock are issued and outstanding, all
of which shares are validly issued, fully paid and non-assessable. The
authorized equity capitalization of A1A Snowbird Leasing, Inc. consists of 7,500
shares of Common Stock and as of the date hereof, 100 shares of Common Stock are
issued and outstanding, all of which

                                        8
<PAGE>   14
shares are validly issued, fully paid and non-assessable. All of the issued and
outstanding shares of Common Stock of AAA-LSF are owned by the Shareholder.
Except as set forth in Section 3.3 of the AAA-LSF Disclosure Schedule, there are
no options, warrants, conversion privileges or other rights, agreements,
arrangements or commitments obligating AAA-LSF to issue or sell any shares of
capital stock or securities or obligations of any kind convertible into or
exchangeable for any shares of capital stock thereof or of any other
corporation, nor are there any stock appreciation, phantom stock or similar
rights outstanding based upon the book value or any other attribute of AAA-LSF.
No holders of outstanding shares of AAA-LSF Common Stock are entitled to any
preemptive or other similar rights. There are no obligations, contingent or
otherwise, of AAA-LSF to repurchase, redeem or otherwise acquire any shares of
AAA-LSF or to provide funds to or make any investment (in the form of a loan,
capital contribution or otherwise) in any entity other than guarantees of bank
obligations of subsidiaries entered into in the ordinary course of business.
Upon consummation of the Exchange, SuperShuttle will own, directly or
indirectly, the entire equity interest in AAA-LSF, and there will be no options,
warrants, conversion privileges or other rights, agreements, arrangements or
commitments obligating AAA-LSF to issue or sell any shares of capital stock of
AAA-LSF or any other corporation.

         3.4 Financial Statements. The consolidated financial statements of
AAA-LSF for the fiscal years ended December 31, 1996 and 1997, and for the
interim period ended February 28, 1998, (the "AAA-LSF Financial Statements")
have been delivered to SuperShuttle and were prepared in accordance with
generally accepted accounting principles applied on a consistent basis
throughout the periods involved and present fairly in all material respects the
consolidated financial position, results of operations, and cash flows of
AAA-LSF as of the dates and for the periods indicated therein, subject, in the
case of unaudited interim statements, to normal year-end accounting adjustments
and the absence of complete footnote disclosure and as set forth on the AAA-LSF
Disclosure Schedules.

         3.5 Subsidiaries. Except as set forth in the AAA-LSF Disclosure
Schedule, AAA-LSF does not have any Subsidiaries and does not otherwise own any
stock, partnership interest, joint venture interest, or any other security
issued by or equity interest in any other corporation, organization or entity.

         3.6 Absence of Undisclosed Liabilities. AAA-LSF has no obligations or
liabilities (whether accrued, absolute, contingent, liquidated or otherwise,
whether due or to become due and regardless of when asserted), except:

                      (a)  To the extent reflected or taken into account in its
                           December 31, 1997 financial statement and not
                           heretofore paid or discharged,

                      (b)  To the extent specifically set forth in or
                           incorporated by reference in the AAA-LSF Disclosure
                           Schedules,

                      (c)  Liabilities incurred in the ordinary course of
                           business consistent with past practice since the date
                           of the December 31, 1997 financial statement (none

                                        9
<PAGE>   15
                           of which relates to breach of contract, breach of
                           warranty, tort, infringement or violation of law, or
                           which arose out of any action, suit, claim,
                           governmental investigation or arbitration
                           proceeding),

                      (d)  Normal accruals, reclassifications, and audit
                           adjustments which would be reflected on an audited
                           financial statement,

                      (e)  Liabilities incurred in the ordinary course of
                           business, and

                      (f)  Liabilities which are not material in scope or
                           amount.

         3.7 No Material Adverse Changes. Except as set forth in the AAA-LSF
Disclosure Schedule, since December 31, 1997, there has not been any material
adverse change in the assets, financial condition or operating results of
AAA-LSF, taken as a whole.

         3.8 Absence of Certain Developments. Except as set forth in the AAA-LSF
Disclosure Schedule or except as contemplated in this Agreement, since December
31, 1997, AAA-LSF has not:

                      (a) changed its accounting methods or practices (including
         any change in depreciation or amortization policies or rates) or
         revalued any of its assets;

                      (b) redeemed or purchased, directly or indirectly, any
         shares of its capital stock, or declared or paid any dividends or
         distributions with respect to any shares of its capital stock;

                      (c) issued or sold any equity securities of it, securities
         convertible into or exchangeable for equity securities of it, warrants,
         options or other rights to acquire equity securities of it, or bonds or
         other securities of it;

                      (d) borrowed any amount under existing lines of credit or
         otherwise or incurred or become subject to any indebtedness, except as
         reasonably necessary for the ordinary operation of AAA-LSF's business
         and in a manner and in amounts that are in keeping with the historical
         practice of AAA-LSF;

                      (e) discharged or satisfied any lien or encumbrance or
         paid any liability, other than current liabilities and related liens
         (or current installments due on intermediate or long-term liabilities)
         paid or satisfied in the ordinary course of business;

                      (f) mortgaged, pledged or subjected to any lien, charge or
         other encumbrance, any assets of AAA-LSF with a fair market value in
         excess of $25,000 in the aggregate, except in the ordinary course of
         business or liens for current property taxes not yet due and payable;

                                       10
<PAGE>   16
                      (g) sold, assigned or transferred (including, without
         limitation, transfers to any employees, shareholders or affiliates of
         AAA-LSF) any tangible assets, except in the ordinary course of
         business;

                      (h) sold, assigned or transferred (including, without
         limitation, transfers to any employees, shareholders or affiliates of
         AAA-LSF) any patents, trademarks, trade names, copyrights, trade
         secrets or other intangible assets, or disclosed any proprietary or
         confidential information, to any person other than SuperShuttle, except
         in the ordinary course of business;

                      (i) materially changed the pricing or royalties set or
         charged by AAA-LSF to its customers or licensees or agreed to any
         material change in the pricing or royalties set or charged by persons
         who have licensed Intellectual Property Rights (as described in Section
         3.15) to AAA-LSF;

                      (j) canceled, waived or compromised any right, claim or
         debt, other than the write-off or compromise of any account receivable
         in the ordinary course of business and consistent with past practice;

                      (k) suffered any material theft, damage, destruction or
         loss of or to any property or properties owned or used by it, whether
         or not covered by insurance;

                      (l) increased the annualized level of compensation of or
         granted any extraordinary bonuses, benefits or other forms of direct or
         indirect compensation to any employee, officer, director or consultant,
         or terminated, amended or otherwise modified any plans for the benefit
         of employees, except in the ordinary course of business and consistent
         with historical adjustments to such compensation and benefits;

                      (m) made any capital expenditures or commitments therefor,
         except for motor vehicles, that aggregate in excess of $25,000;

                      (n) acquire or make any commitments to acquire any motor
         vehicles without the prior written approval of SuperShuttle;

                      (o) made any loans or advances to, or guarantees for the
         benefit of, any persons (other than advances to sales personnel in the
         ordinary course of business); or

                      (p) except in the ordinary course of business, entered
         into any contract, written or oral, that involves consideration or
         performance by AAA-LSF of a value exceeding $25,000 or a term exceeding
         twelve (12) months.

                                       11
<PAGE>   17
         3.9 Title to and Condition of Properties.

                      (a) AAA-LSF owns good and marketable title to the
         properties and assets reflected on the December 31, 1997 AAA-LSF
         Balance Sheet or acquired since the date thereof, free and clear of all
         liens and encumbrances, except for (A) liens for current taxes not yet
         due and payable, (B) liens described in Section 3.6 of the AAA-LSF
         Disclosure Schedule, (C) the properties subject to the leases set forth
         in Section 3.9(b) of the AAA-LSF Disclosure Schedule, and (D) assets
         disposed of since December 31, 1997, in the ordinary course of
         business.

                      (b) (i) At the Effective Time, AAA-LSF will not own any
         real estate; (ii) the properties subject to the real property leases
         described in Section 3.9(b) of the AAA-LSF Disclosure Schedule
         constitute all of the real estate used or occupied by AAA-LSF (the
         "AAA-LSF Real Estate"), and (iii) AAA-LSF Real Estate has access,
         sufficient for the conduct of AAA-LSF's business, to public roads and
         to all utilities, including electricity, sanitary and storm sewer,
         potable water, natural gas and other utilities, used in the operations
         of AAA-LSF.

                      (c) The real property leases described in Section 3.9(b)
         of the AAA-LSF Disclosure Schedule are in full force and effect, and
         AAA-LSF has a valid and existing leasehold interest under each such
         lease for the term set forth therein. AAA-LSF has delivered to
         SuperShuttle complete and accurate copies of each of the leases and
         none of such leases has been modified in any respect, except to the
         extent that such modifications are disclosed by the copies delivered to
         SuperShuttle. AAA-LSF is not in default, and to the knowledge of
         AAA-LSF no circumstances exist which could result in such default,
         under any of such leases.

                      (d) A complete list of all motor vehicles and computer
         equipment used in the business of AAA-LSF is included as Section 3.9(d)
         of the AAA-LSF Disclosure Schedule. AAA-LSF owns or leases under valid
         leases, all buildings, machinery, equipment and other tangible assets
         necessary for the conduct of its business. AAA-LSF has delivered to
         SuperShuttle complete and accurate copies of all equipment leases and
         such leases are listed in the AAA-LSF Disclosure Schedule. None of such
         equipment leases has been modified in any respect, except to the extent
         that such modifications are disclosed by the copies delivered to
         SuperShuttle. AAA-LSF is not in default, and to the knowledge of
         AAA-LSF no circumstances exist which could result in such default,
         under any of such equipment leases.

                      (e) To the knowledge of AAA-LSF, AAA-LSF is not in any
         material respect in violation of any applicable zoning ordinance or
         other law, regulation or requirement relating to the operation of any
         properties used in the operation of its business, and AAA-LSF has not
         received any notice of any such violation, or of the existence of any
         condemnation proceeding with respect to any properties owned or leased
         by AAA-LSF.

                                       12
<PAGE>   18
         3.10 Environmental Matters. Except as set forth in the AAA-LSF
Disclosure Schedule, AAA-LSF (i) has obtained all applicable permits, licenses
and other authorizations (a list of which is set forth in the AAA-LSF Disclosure
Schedule) which are required under federal, state or local laws relating to
pollution or protection of the environment, including laws relating to
emissions, discharges, releases or threatened releases of pollutants,
contaminants, or hazardous or toxic materials or wastes into ambient air,
surface water, ground water, or land or otherwise relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or
handling of pollutants, contaminants or hazardous or toxic materials or wastes
by AAA-LSF; (ii) is in material compliance with all terms and conditions of any
required permits, licenses and authorizations, and to its knowledge with all
other limitations, restrictions, conditions, standards, prohibitions,
requirements, obligations, schedules and timetables contained in such laws or in
any regulation, code, plan, order, decree, judgment, notice or demand letter
issued, entered, promulgated or approved thereunder; (iii) is not aware of nor
has it received notice of any event, condition, circumstance, activity,
practice, incident, action or plan which is reasonably likely to interfere with
or prevent continued compliance with or which would give rise to any common law
or statutory liability based on or resulting from AAA-LSF's manufacture,
processing, distribution, use, treatment, storage, disposal, transport, or
handling, or the emission, discharge, or release into the environment, of any
pollutant, contaminant, or hazardous or toxic material or waste; (iv) to its
knowledge has taken all actions necessary under applicable requirements of such
federal, state or local laws, rules or regulations to register any products or
materials required to be registered by AAA-LSF thereunder; and (v) has neither
disposed of nor handled any hazardous substance.

         3.11 Accounts Receivable. AAA-LSF's notes and accounts receivable
recorded on the February 28, 1998 AAA-LSF Balance Sheet and those arising since
the date thereof are to its knowledge valid and collectible in accordance with
their terms, subject to no valid counterclaims or setoffs, other than to the
extent of the reserves set forth on the books and records of AAA-LSF or as
disclosed in the AAA-LSF Disclosure Schedule. All such accounts receivable of
AAA-LSF arose in the ordinary course of business and are carried at values
determined in accordance with generally accepted accounting principles
consistently applied.

         3.12 Tax Matters. Except as set forth in the AAA-LSF Disclosure
Schedule, AAA-LSF has filed all federal, foreign, state, county and local
income, excise, property, sales and other tax returns which are required to be
filed by it for all periods prior to the Effective Time, and all such returns
are true and correct; all taxes due and payable by AAA-LSF (whether or not shown
on any tax return) for all periods prior to December 31, 1997 have been paid;
AAA-LSF's reserves and provisions for taxes on the balance sheets included in
the AAA-LSF Financial Statements are sufficient for all accrued and unpaid taxes
as of the dates of such balance sheets; AAA-LSF has paid all taxes due and
payable by it or which it is obligated to withhold from amounts owing to any
employee, creditor, or third party; AAA-LSF has not waived any statute of
limitations in respect of taxes or agreed to any extension of time with respect
to a tax assessment or deficiency; and AAA-LSF has not received notice of any
unresolved questions or claims concerning the tax liability of AAA-LSF. AAA-LSF
has not filed any consent agreement under Section 341(f) of the Code or agreed
to have Section 341(f)(2) of the Code apply to any disposition of a "subsection
(f) asset" as defined in Section 341(f)(4) of the Code) owned by AAA-

                                       13
<PAGE>   19
LSF. AAA-LSF (i) is not and has not been a member of an affiliated group filing
a consolidated federal income tax return (other than an affiliated group the
common parent of which was AAA-LSF) and (ii) does not have any liability for
taxes of any person (other than AAA-LSF) under Treasury Regulation Section
1.1502-6 (or any similar provision of state, local or foreign law) as a
transferee or successor by contract or otherwise. AAA-LSF is not a party to a
tax sharing or allocation agreement nor does AAA-LSF owe any amount under any
such agreement. AAA-LSF is not obligated to make any payments and is not a party
to any agreement that under certain circumstances could obligate it to make any
payments that, either in whole or in part, would be nondeductible under Sections
280G or 162 of the Code. AAA-LSF has not been a "United States real property
holding corporation" (within the meaning of Section 897(c)(2) of the Code) at
any time within the applicable period specified in Section 897(c)(1)(A)(ii) of
the Code.

         3.13 Contracts and Commitments.

                      (a) Except as set forth in the AAA-LSF Disclosure
         Schedule, AAA-LSF is not a party to any: (i) collective bargaining
         agreement or contract with any labor union; (ii) bonus, pension, profit
         sharing, retirement, or other form of deferred compensation plan; (iii)
         medical insurance or similar plan or practice, whether formal or
         informal; (iv) contract for the employment of any officer, employee, or
         other person on a full-time or consulting basis or relative to
         severance pay or change-in-control benefits for any such person; (v)
         agreement or indenture relating to the borrowing of money in excess of
         $25,000 or to mortgaging, pledging or otherwise placing a lien on any
         assets of AAA-LSF which has a fair market value in excess of $25,000 in
         the aggregate; (vi) guaranty of any obligation for borrowed money or
         otherwise, other than endorsements made for collection; (vii) lease or
         agreement under which it is lessor of, or permits any third party to
         hold or operate, any property, real or personal; (viii) contract or
         group of related contracts with the same party for the purchase of
         products or services, under which the undelivered balance of such
         products and services has a purchase price in excess of $25,000; (ix)
         contract or group of related contracts with the same party for the sale
         of products or services under which the undelivered balance of such
         products or services has a sales price in excess of $25,000; (x) other
         contract or group of related contracts with the same party continuing
         over a period of more than twelve (12) months from the date or dates
         thereof or involving more than $25,000; (xi) material contract relating
         to the distribution of AAA-LSF's products; (xii) franchise agreement;
         or (xiii) other agreement material to AAA-LSF's business or not entered
         into in the ordinary course of business.

                      (b) AAA-LSF has furnished or otherwise made available to
         SuperShuttle a true and correct copy of each written contract or
         commitment, and a written description of each oral contract or
         commitment, referred to in this Section 3.13, together with all
         amendments, waivers or other changes thereto.

                      (c) Except as specifically disclosed in the AAA-LSF
         Disclosure Schedule: (i) AAA-LSF's relations with customers and
         suppliers are good; (ii) since the date of the December 31, 1997
         AAA-LSF Balance Sheet, no significant customer or supplier has

                                       14
<PAGE>   20
         indicated that it will stop or materially decrease the rate of business
         done with AAA-LSF, except for changes in the ordinary course of
         AAA-LSF's business; (iii) AAA-LSF has performed all material
         obligations required to be performed by it in connection with the
         contracts or commitments described herein and AAA-LSF has not been
         advised of or received any claim of default under any such contract or
         commitment; (iv) AAA-LSF has no present expectation or intention of not
         fully performing any obligation pursuant to any contract or commitment;
         and (v) AAA-LSF has no knowledge of any breach by any other party to
         any contract or commitment.

         3.14 Restrictions on Business Activities. Except as set forth in the
AAA-LSF Disclosure Schedule, there is no agreement (noncompete or otherwise),
commitment, judgment, injunction, order or decree to which AAA-LSF is a party or
otherwise binding on AAA-LSF which has or reasonably could be expected to have
the effect of prohibiting or impairing any business practice of AAA-LSF.

         3.15 Intellectual Property Rights.

                      (a) The AAA-LSF Disclosure Schedule lists all of AAA-LSF's
         federal, state and foreign registrations of trademarks, service marks
         and other marks, trade names or other trade rights, and all pending
         applications for any such registrations, all other trademarks and other
         marks, trade names and other trade rights, or in which AAA-LSF has any
         interest whatsoever, and all other trade secrets and other intellectual
         property rights, whether or not registered, created or used by or on
         behalf of AAA-LSF, in each case relating to its business (collectively,
         "Intellectual Property Rights"). The Intellectual Property Rights
         listed in the AAA-LSF Disclosure Schedule are all those used by AAA-
         LSF in connection with its business.

                      (b) Except as set forth on the AAA-LSF Disclosure
         Schedule, AAA-LSF has full legal right, title and interest to the
         Intellectual Property and has not granted any rights in or to the same
         to any third party. To the knowledge AAA-LSF and except as set forth on
         the AAA-LSF Disclosure Schedule, conduct of the business as presently
         conducted and the conduct, use and exploitation of the Intellectual
         Property does not infringe or misappropriate any rights held or
         asserted by any person or entity and no person or entity is infringing
         on the Intellectual Property. Except as set forth on the AAA-LSF
         Disclosure Schedule, no payments are required for the continued use of
         the Intellectual Property. None of the Intellectual Property has ever
         been declared invalid or unenforceable or is the subject of any pending
         or to the knowledge of AAA-LSF threatened action for opposition,
         cancellation, declaration, infringement or invalidity, unenforceability
         or misappropriation or like claim, action or proceeding.

         3.16 Litigation. Except as set forth in the AAA-LSF Disclosure
Schedule, there are no actions, suits, proceedings, orders or investigations
pending or, to the knowledge of AAA-LSF, threatened against AAA-LSF, at law or
in equity, or before or by any federal, state, municipal or other governmental
department, commission, board, bureau, agency or instrumentality, domestic

                                       15
<PAGE>   21
or foreign, which, if determined adversely to AAA-LSF, would result in a
material adverse effect to AAA-LSF's operations and financial condition and
there is no basis known to AAA-LSF for any of the foregoing. Except as set forth
in the AAA-LSF Disclosure Schedule, AAA-LSF has not received any opinion or
legal advice to the effect that AAA-LSF is exposed from a legal standpoint to
any material liability. No governmental entity has at any time challenged or
questioned the legal right of AAA-LSF to offer or provide any of its services in
the present manner or style thereof.

         3.17 Brokers' Fees. AAA-LSF is not liable for any brokerage
commissions, finders' fees or similar compensation in connection with the
transactions contemplated by this Agreement.

         3.18 Employment. Except as set forth in the AAA-LSF Disclosure
Schedule, to the knowledge of AAA-LSF: (i) no key executive employee of AAA-LSF
and no group of AAA-LSF's other employees has any plans to terminate his, her
or its employment; (ii) AAA-LSF has no material labor relations problems
pending; and (iii) its labor relations are satisfactory in all material
respects.

         3.19 Employee Benefit Plans. AAA-LSF has no employee benefit plans.

         3.20 Insurance. The AAA-LSF Disclosure Schedule lists each insurance
policy and fidelity bond currently maintained by AAA-LSF with respect to its
properties, assets, employees and officers and directors and sets forth the date
of expiration of each insurance policy. All insurance policies listed as
currently maintained are in full force and effect and AAA-LSF is not in default
with respect to its obligations under any of such insurance policies. All
premiums have been paid and there is no retroactive premium adjustment
obligation of any kind or character. There is no claim of AAA-LSF pending under
any of such policies or bonds as to which coverage has been questioned, denied
or disputed by the underwriters of such policies or bonds. AAA-LSF has no
knowledge of any threatened termination of, or material premium increase with
respect to, any such policies.

         3.21 Insider Transactions. Except as set forth herein or in the AAA-LSF
Disclosure Schedule, no officer, director or shareholder of AAA-LSF or any
member of the immediate family of any such officer, director or shareholder, or
any entity in which any of such persons owns any beneficial interest (other than
a publicly-held corporation whose stock is traded on a national securities
exchange or in the over-the-counter market and less than 5% of the stock of
which is beneficially owned by any of such persons) (collectively "Insiders"),
has any agreement with AAA-LSF or any interest in any property, real, personal
or mixed, tangible or intangible, used in or pertaining to the business of
AAA-LSF. For purposes of the preceding sentence, the members of the immediate
family of an officer, director or shareholder shall consist of the spouse,
parents, children, siblings, mothers- and fathers-in-law, sons- and
daughters-in-law, and brothers- and sisters-in-law of such officer, director or
shareholder.

         3.22 Compliance With Laws; Permits; Certain Operations. AAA-LSF and its
officers, directors, and to its knowledge agents and employees have complied in
all material

                                       16
<PAGE>   22
respects with all applicable laws and regulations of foreign, federal, state and
local governments and all agencies thereof which affect the business or any
owned or leased properties of AAA-LSF and to which AAA-LSF may be subject, and
no claims have been filed against AAA-LSF alleging a violation of any such law
or regulation, except as set forth in the AAA-LSF Disclosure Schedule. Without
limiting the generality of the foregoing, AAA-LSF has not violated, or received
a notice or charge asserting any violation of, the Occupational Safety and
Health Act of 1970, or any other state or federal acts (including rules and
regulations thereunder) regulating or otherwise affecting employee health and
safety. AAA-LSF has not given or agreed to give any money, gift or similar
benefit (other than incidental gifts of articles of nominal value) to any actual
or potential customer, supplier, governmental employee or any other person in a
position to assist or hinder AAA-LSF in connection with any actual or proposed
transaction. AAA-LSF holds all permits, licenses, certificates and other
authorizations of foreign, federal, state and local governmental agencies
required for the conduct of its business, including specifically the permits,
licenses, certificates and other authorizations described in Section 3.22 of the
AAA-LSF Disclosure Schedule.

         3.23 Disclosure. Neither this Agreement nor any of the schedules or
exhibits hereto contains any untrue statement of a material fact or omits a
material fact necessary to make the statements contained herein or therein, in
light of the circumstances in which they were made, not misleading.

         3.24 Minute Books. The minute books of AAA-LSF shall be made available
to counsel for SuperShuttle and those delivered shall be the only minute books
of AAA-LSF and shall contain an accurate summary of all meetings of directors
(or committees thereof) and shareholders or actions by written consent since the
time of incorporation of AAA-LSF.

         3.25 Compensation. Any amounts paid, if any, as compensation or
otherwise to the Shareholder following the Effective Time shall equal the fair
value for services provided by the Shareholder to AAA-LSF and/or to
SuperShuttle.

         3.26 Medicaid and Other Third Party Payor Matters.

                      (a) To the best of AAA-LSF's knowledge, AAA-LSF has met
         and continues to meet without material exception, all State and Federal
         laws and regulations governing participation in the Third Party Payor
         programs and plans, all of the terms and conditions set forth in the
         Third Party Payor agreements and all of the terms and conditions for
         participation in the health care plans described in the Third Party
         Payor agreements. In addition, AAA-LSF has not received any notice from
         any governmental or public body, agency or instrumentality alleging
         that the operation of AAA-LSF is not in accordance with regulations
         affecting its certifications or participation in any Third Party Payor
         program.

                      (b) Except as otherwise set forth in the AAA-LSF
         Disclosure Schedules, there is no claim, action, temporary restraining
         order, injunction, suit, proceeding, inquiry or investigation, at law
         or in equity, before or by an internal board or body of AAA-LSF, any
         external board, body or entity chosen, retained or hired by AAA-LSF,
         any judicial or

                                       17
<PAGE>   23
         administrative court, governmental agency, public board or body,
         pending, contemplated or, to the best of AAA-LSF's knowledge,
         threatened against AAA-LSF, nor is there any basis therefore wherein an
         unfavorable decision, ruling or finding would in any way adversely
         affect AAA-LSF's compensation and/or reimbursement under the Third
         Party Payor agreements.

                                    ARTICLE 4
            ADDITIONAL REPRESENTATIONS AND WARRANTIES OF SHAREHOLDER

         The Shareholder hereby represents and warrants to SuperShuttle as of
the date hereof, and again at the Effective Time, with respect to herself each
of the following:

         4.1 Organization, Standing and Authority of Shareholder. The
Shareholder has all requisite power and authority to execute and deliver this
Agreement, to perform her obligations hereunder and to consummate the
transactions contemplated hereby.

         4.2 Execution and Delivery; No Conflicts.

                      (a) This Agreement has been duly executed and delivered by
         Shareholder and the agreements of Shareholder contained herein
         constitute the valid and binding obligations of the Shareholder,
         enforceable against Shareholder in accordance with their terms, except
         as the same may be limited by bankruptcy, insolvency, reorganization,
         moratorium, or other laws affecting generally the enforcement of
         creditors' rights.

                      (b) The execution, delivery and performance of this
         Agreement by Shareholder and the consummation of the transactions
         contemplated hereby (i) have been duly and validly authorized by all
         necessary action on the part of the Shareholder; and (ii) are not
         prohibited by, do not violate any provision of, and will not result in
         the breach of, or accelerate or permit the acceleration of the
         performance required by the terms of any applicable law, rule,
         regulation, judgment, decree, order or other requirement of the United
         States or any state of the United States, or any court, authority,
         department, commission, board, bureau, agency or instrumentality of
         either thereof, in a manner which would have a material adverse affect
         on the ability of the Shareholder to enter into and consummate this
         Agreement, or any material contract, indenture, agreement or commitment
         to which Shareholder is a party or is bound in a manner which would
         have a material adverse affect on Shareholder.

         4.3 Consents and Approvals. The execution, delivery and performance by
Shareholder of this Agreement and the consummation by Shareholder of the
transactions contemplated hereby do not require Shareholder to obtain any
consent, approval or action of, or make any filing with or give any notice to,
any corporation, person or firm or any public, governmental or judicial
authority except: (a) such as have been duly obtained or made, as the case may
be, and are in full force and effect on the date hereof; and (b) those which the
failure to obtain would have no material adverse affect on the transactions
contemplated hereby.

                                       18
<PAGE>   24
         4.4 Brokers. All negotiations relative to this Agreement and the
transactions contemplated hereby have been carried out by Shareholder directly
with the other parties hereto, without the intervention of any person on behalf
of Shareholder in such manner as to give rise to any claim by any person against
the Company, AAA-LSF or Shareholder for a finder's fee, brokerage commission or
similar payment.

         4.5 Securities Laws Compliance. The securities to be acquired by
Shareholder under the terms of this Agreement will be acquired for Shareholder's
own account for the purpose of investment and not with the present intention of
public resale or public distribution of all or any part of the securities.
Shareholder agrees that she will refrain from transferring or otherwise
disposing of any of the securities, or any interest therein, in such manner as
to violate the Securities Act of 1933 (the "Securities Act") or of any
applicable state securities law regulating the disposition thereof. Shareholder
agrees that the certificates representing the securities shall bear legends to
the effect that such securities have not been registered under the Securities
Act or any applicable state securities laws and that no interest therein may be
transferred or otherwise disposed of in violation of the provisions thereof or
of the rules and regulations issued thereunder.

         4.6 Shareholder Experience and Investment Representations.

                      (a) The Shareholder is able to bear the economic risk of
         an investment in the securities acquired by it pursuant to this
         Agreement.

                      (b) The Shareholder is an experienced and sophisticated
         investor in the shuttle transportation business and has such knowledge
         and experience in such matters that it is capable of evaluating the
         risks and merits of acquiring the SuperShuttle securities. The
         Shareholder has not been formed or organized for the specific purpose
         of acquiring the securities. The Shareholder has had, during the course
         of this transaction and prior to its acquisition of the SuperShuttle
         securities, the opportunity to ask questions of, and receive answers
         from, SuperShuttle and its management concerning SuperShuttle and the
         terms and conditions of this Agreement. The Shareholder hereby
         acknowledges that it or its representatives has received all such
         information as it considers necessary for evaluating the risks and
         merits of acquiring the securities and for verifying the accuracy of
         any information furnished to it or to which it had access.

                      (c) The Shareholder has had the opportunity to consult
         with financial advisers and counsel of its own choosing in making an
         informed decision with respect to the Exchange consideration and has
         consulted with counsel of its own choosing in making an informed
         decision with respect to the terms of this Agreement.

                      (d) The Shareholder is an "accredited investor" as defined
         in and for purposes of Rule 501 and Regulation D promulgated by the
         Securities and Exchange Commission ("SEC") under the Securities Act.

                                       19
<PAGE>   25
                                    ARTICLE 5
                 CONDUCT PENDING AND SUBSEQUENT TO THE EXCHANGE

         5.1 Conduct of Business Pending the Exchange. AAA-LSF covenants and
agrees that, prior to the Effective Time, unless SuperShuttle shall otherwise
agree in writing or as otherwise expressly contemplated or permitted by this
Agreement:

                      (a) AAA-LSF (i) shall conduct its business only in the
         ordinary course, on an arm's length basis and in accordance with all
         applicable laws, rules and regulations and past custom and practice;
         (ii) shall maintain its facilities in good operating condition,
         ordinary wear and tear excepted; and (iii) shall use its reasonable
         best efforts to preserve intact its business organization and goodwill,
         keep available the services of its officers and employees as a group
         and maintain satisfactory relationships with suppliers, distributors,
         customers and others having business relationships with it;

                      (b) AAA-LSF (i) shall confer on a regular basis and upon
         demand with representatives of SuperShuttle and report operational
         matters and the general status of ongoing operations; (ii) shall
         deliver to SuperShuttle monthly financial reports including balance
         sheets and income statements prepared in accordance with generally
         accepted accounting principles by the 20th day of the following month
         during the period from March 31, 1998 until the expiration of the right
         of Recision (as defined in Section 5.2) and shall deliver statements of
         cash flows by July 30, 1998 for the first quarter; (iii) shall notify
         SuperShuttle of any emergency or other change in the normal course of
         its business or in the operation of its properties and of any
         governmental or third party complaints, investigations or hearings (or
         communications indicating that the same may be contemplated); and (iv)
         shall not take any action which would render, or which reasonably may
         be expected to render, any representation or warranty made by it in
         this Agreement untrue at, or at any time prior to, the Effective Time;

                      (c) AAA-LSF shall not, directly or indirectly, do or
         permit to occur any of the following: (i) amend or propose to amend its
         Articles of Incorporation or Bylaws; (ii) issue, sell, pledge, dispose
         of or encumber (A) any additional shares of, or any options, warrants,
         conversion privileges or rights of any kind to acquire any shares of,
         any of its capital stock (other than pursuant to the exercise of
         previously granted options) or (B) any of its assets, except in the
         ordinary course of business consistent with past practices; (iii)
         split, combine or reclassify any of its outstanding shares, or declare,
         set aside or pay any dividend or other distribution payable in cash,
         stock, property or otherwise with respect to any shares of its capital
         stock; (iv) redeem, purchase or acquire or offer to acquire any shares
         of its capital stock; (v) acquire (by merger, exchange, consolidation,
         acquisition of stock or assets or otherwise) any corporation,
         partnership, joint venture or other business organization or division
         or material assets thereof or any interest therein; (vi) incur any
         indebtedness for borrowed money or issue any debt securities (other
         than in the ordinary course of business and in amounts consistent with
         past practices); (vii) make any loans (except for advances to sales
         personnel in the ordinary course of business and consistent

                                       20
<PAGE>   26
         with past practice); (viii) enter into any Insider transactions; or
         (ix) enter into or propose to enter into, or modify or propose to
         modify, any agreement, arrangement or understanding with respect to any
         of the matters set forth in this Section 5.1(c);

                      (d) AAA-LSF shall not, directly or indirectly, enter into
         or modify any contract, agreement or understanding, written or oral,
         that involves consideration or performance of AAA-LSF, as the case may
         be, of a value exceeding $25,000 or a term exceeding twelve months,
         except in the ordinary course of business and consistent with past
         practice;

                      (e) AAA-LSF shall not enter into or modify any employment,
         severance or similar agreements or arrangements with, or grant any
         bonuses, salary increases, or severance or termination pay to, any
         officers, directors, employees or consultants other than in the
         ordinary course of business and consistent with past practice;

                      (f) AAA-LSF shall not adopt or amend in any material
         respect any bonus, profit sharing, compensation, stock option, pension,
         retirement, deferred compensation, employment or other benefit plan,
         trust, fund or group arrangement for the benefit or welfare of any
         officers, directors or employees;

                      (g) AAA-LSF shall not allow its current insurance policies
         to be canceled or terminated or any of the coverage thereunder to
         lapse, unless simultaneous with such termination, cancellation or
         lapse, replacement policies providing coverage equal to or greater than
         the coverage under the canceled, terminated or lapsed policies for
         substantially similar premiums are in full force and effect; and

                      (h) AAA-LSF shall promptly notify SuperShuttle if AAA-LSF
         learns of any dispute between AAA-LSF and any governmental or
         regulatory body which, if adversely determined, would have a material
         adverse effect, (ii) any material change in the manner, method or
         procedure of Medicare reimbursement or Medicaid reimbursement in the
         State of Florida, or notice from any governmental or public body,
         agency or instrumentality that AAA-LSF is proposed to be excluded,
         suspended or debarred from any governmental health care program
         advising that AAA-LSF is not in compliance with statutes or regulations
         affecting its operations, including statutes and regulations under the
         Medicare and Medicaid programs.

         5.2 Conduct Subsequent to the Exchange.

                      (a) The Share Exchange shall be rescinded automatically
         (the "Recision") upon the occurrence of any of the following events:
         (i) if SuperShuttle does not file a registration statement for an
         initial public offering on Form S-1 with the SEC by May 31, 1998 to
         register for sale shares of SuperShuttle Common Stock; (ii) if the SEC
         does not declare such registration statement effective by July 31,
         1998, or (iii) if the underwritten initial registration statement for
         an initial public offering on a firm commitment basis does not

                                       21
<PAGE>   27
         occur by August 10, 1998, providing a per share offering price to the
         public of at least $6.50.

                      (b) As security for each party's rights of recision
         hereunder, the parties designate Akerman, Senterfitt & Eidson, P.A. as
         escrow agent (the "Escrow Agent") to hold: (i) the stock certificates
         in AAA-LSF formerly held by the Shareholder to be held for the benefit
         of SuperShuttle; and (ii) the stock certificates in SuperShuttle issued
         hereunder for the benefit of the Shareholder. If this Agreement is
         rescinded in accordance with Section 5.2(a), the Escrow Agent shall
         immediately, and without any further action by any party, deliver (a)
         to SuperShuttle the stock certificates of SuperShuttle, which
         certificates shall be immediately canceled, and (b) to Shareholder the
         stock certificates of AAA-LSF delivered by each Shareholder to the
         Escrow Agent. During the period in which the stock certificates as held
         in escrow, the Escrow Agent shall vote the SuperShuttle Common Stock as
         directed by the Shareholder and shall vote the AAA-LSF Common Stock as
         directed by SuperShuttle.

                      (c) If this Agreement is rescinded, the parties' rights
         and obligations shall cease as if this Agreement never existed, except
         for the indemnification provisions set forth in Section 5.2(d) below.
         SuperShuttle, AAA-LSF and each Shareholder upon recision agrees to
         treat this transaction as rescinded effective as of the Effective Time
         and file all tax returns, reports or other statements consistent with
         such agreement.

                      (d) In the event that the Share Exchange is rescinded,
         SuperShuttle shall indemnify and hold the Shareholder and AAA-LSF
         harmless from and against the aggregate of all expenses, losses, costs,
         deficiencies, liabilities and damages, including, without limitation,
         related counsel and paralegal fees and expenses incurred or suffered by
         the Shareholder or AAA-LSF arising out of or resulting from a breach by
         SuperShuttle of any covenant or agreement as set forth in Section 5.3
         and a breach of the representation set forth in Section 2.13.

         5.3 SuperShuttle Recision Right. SuperShuttle shall have the option to
rescind the Share Exchange if Southern Shuttle Services, Inc. ("Southern") has
not received the written approval of the Aviation Department for Dade County of
the changes in ownership of Southern to Supershuttle by the effective date of
SuperShuttle's registration statement on Form S-1.

         5.4 Conduct by SuperShuttle. During the time from the Closing Date to
such time as the Share Exchange is rescinded or until the Recision rights expire
(the "Option Period"), SuperShuttle shall not take any action which could affect
the Recision rights and affect the ability of the Shareholder to then operate
AAA-LSF as if the exchange never occurred, including, but not limited to:

                      (a)  Cancellation of any material contracts;

                                       22
<PAGE>   28
                      (b)  Combining any operations, duties or tasks of AAA-LSF
                           with and into any operations of SuperShuttle or its
                           subsidiaries;

                      (c) Combining any employee benefit plans with the plans of
                          SuperShuttle;

                      (d)  Pledging, encumbering or incurring any liens upon the
                           assets, properties, business or the shares of AAA-LSF
                           (the "Transferred Assets");

                      (e)  Declaring any dividends in property or cash;

                      (f)  Taking any of the actions contemplated by Section
                           5.1;

                      (g)  Using or allowing the use of the Transferred Assets
                           to satisfy any judgments or claims.

In addition, during the Option Period, the board of directors of AAA-LSF will be
comprised of three members: Karen N. Caputo, Mark Levitt and a designee of
SuperShuttle and Karen N. Caputo shall remain as President. If the Share
Exchange is rescinded, the SuperShuttle designee shall immediately resign from
the board of directors of AAA-LSF. Upon the expiration of the Recision rights,
the board of directors of AAA-LSF will be comprised of: R. Brian Wier, Thomas C.
LaVoy and a designee of the Shareholder.

                                    ARTICLE 6
                              ADDITIONAL AGREEMENTS

         6.1 Expenses. Each of SuperShuttle and AAA-LSF shall bear their own
legal and accounting fees and other expenses relating to this transaction. In
addition, AAA-LSF will bear the expenses associated with the conduct of the
required accounting audit of its books and records relating to this transaction.

         6.2 No Negotiations. Until March 31, 1998, or such later date as the
parties may mutually agree, AAA-LSF and the Shareholder agree that neither they
nor AAA-LSF's directors, officers, employees or agents (i) shall solicit,
negotiate or accept any offers for the sale of AAA-LSF or any substantial
portion thereof (whether by merger or sale of stock or assets or otherwise) or
provide any non-public information with respect thereto, or (ii) shall solicit,
negotiate, or accept any offers for the acquisition of any material business.
AAA-LSF shall promptly notify SuperShuttle if it (or to its knowledge any of the
other enumerated persons or any Shareholder) is approached by any person
interested in acquiring the assets or capital stock of AAA-LSF.

         6.3 Notification of Certain Matters. SuperShuttle and AAA-LSF shall
give prompt notice to each other of (i) the occurrence or failure to occur of
any event, which occurrence or failure would be likely to cause any
representation or warranty on its part contained in this Agreement to be untrue
or inaccurate at, or at any time prior to, the Effective Time, and (ii) any
material failure of such party, or any officer, director, shareholder, employee
or agent thereof,

                                       23
<PAGE>   29
to comply with or satisfy any covenant, condition or agreement to be complied
with or satisfied by it hereunder.

         6.4 Access to Information; Confidentiality.

                      (a) Until March 31, 1998, or the Effective Time each of
         SuperShuttle and AAA-LSF shall have the opportunity to make a complete
         review of the books, records, business and affairs of AAA-LSF or
         SuperShuttle, as applicable. Such review may be conducted at any and
         all reasonable times by such persons as SuperShuttle or Southern
         designates. To facilitate such review, the parties shall provide to the
         other party and its agents complete access to all of its records and
         documents, shall provide the other party with personal, bank and
         professional references, and shall use reasonable efforts to make
         available for consultation customers, employees, suppliers and
         distribution channels.

                      (b) Each of SuperShuttle and AAA-LSF agrees that all
         non-public information provided to the other enumerated parties will be
         treated as confidential, and if this Agreement is terminated, will
         return to such other parties all confidential documents (and all copies
         thereof) in its possession, or will certify to the other parties that
         all such documents not returned have been destroyed. Further,
         regardless of whether this Agreement is terminated, each party shall
         continue to hold all confidential information of the other in strictest
         confidence in accordance with the Letter of Intent entered into by
         SuperShuttle and AAA-LSF on February 25, 1998.

         6.5 Consents; Approvals. SuperShuttle and AAA-LSF shall each use their
reasonable best efforts to obtain all consents, waivers, approvals,
authorizations or orders, and each such party shall make all filings required in
connection with the authorization, execution and delivery of this Agreement by
such party and the consummation by them of the transactions contemplated hereby.
Each of SuperShuttle and AAA-LSF shall furnish all information required to be
included for any application or filing to be made pursuant to the rules and
regulations of any applicable governmental body in connection with the
transactions contemplated by this Agreement.

         6.6 Supplements to Disclosure Schedules. From time to time prior to the
Effective Time, SuperShuttle and AAA-LSF will each promptly supplement or amend
their respective Disclosure Schedules with respect to any matter hereafter
arising which, if existing or occurring at the date of this Agreement, would
have been required to be set forth or described in any such Disclosure Schedule
or which is necessary to correct any information in any such Disclosure Schedule
which has been rendered inaccurate thereby. No supplement or amendment to any
such Disclosure Schedule shall have any effect for the purpose of determining
satisfaction of the conditions set forth in Sections 7.2 or 7.3 of this
Agreement, as the case may be, except as otherwise provided in Sections 7.2(a)
and 7.3(a).

         6.7 Non-Solicitation of Employees. For a period of one year from the
date hereof, no party shall solicit, negotiate with or hire any employee of the
other party.

                                       24
<PAGE>   30
         6.8 Election of Directors. SuperShuttle shall promptly after the date
hereof take all action necessary in accordance with Delaware Law and its
Certificate of Incorporation and Bylaws to (i) increase, effective as of the
Effective Time, the number of directors serving on the SuperShuttle Board of
Directors to accommodate the election of one (1) designee of AAA-LSF (designated
collectively with Southern Shuttle Services, Inc.); (ii) elect, effective as of
the Effective Time, that one designee to SuperShuttle's Board of Directors and
(iii) appoint such designee to Supershuttle's "pricing committee" of the Board
of Directors.

         6.9 Confidential Information and Covenant Not To Compete. The
Shareholder hereby covenants and agrees as follows:

                      (a) at any time following execution of this Agreement and
         consummation of the Exchange transactions, unless the Share Exchange
         Agreement is rescinded the Shareholder shall not use or disclose,
         directly or indirectly, for any reason whatsoever or in any way any
         confidential information or trade secrets of AAA-LSF or SuperShuttle,
         including by way of example, names or descriptions of customers,
         financial statements, product or service pricing or other information,
         contract proposals and bidding information, and any and other
         information of a proprietary or confidential character;

                      (b) that until the later of three (3) years following the
         consummation of the Exchange transactions or termination of the
         employment agreement referenced in Section 7.1(d), the Shareholder
         shall not, directly or indirectly, either as an employee, employer,
         consultant, agent, principal, partner, stockholder, corporate officer,
         director or in any other capacity whatsoever, engage or participate in
         any businesses in competition in any manner whatsoever with the
         business of AAA-LSF, SuperShuttle or any affiliate of either of them as
         such business is presently conducted (the "Business") in Dade, Palm
         Beach, Broward and Orange Counties, Florida or (the "Applicable
         Counties"). Not limiting the generality of the foregoing, the business
         of AAA-LSF and SuperShuttle shall be deemed to consist of the
         transportation, over land, of passengers for hire, including, by way of
         example, transportation to and from airports, ports or stations of
         embarkation for travel. In addition, until the expiration of five years
         following the consummation of the Exchange transactions the Shareholder
         shall not enter into any agreement with a party currently doing
         business with Southern, SuperShuttle or any affiliates of either of
         them for the provision of services substantially similar to those
         provided currently.

                      (c) from and after the date of this Agreement, the
         Shareholder shall not solicit or negotiate any contract or agreement
         that constitutes or would constitute engaging in competition with the
         Business of AAA-LSF or SuperShuttle in the Applicable Counties;

                      (d) each of the Shareholder by execution of this Agreement
         assigns to AAA-LSF any and all rights and interests in the business
         concept employed by AAA-LSF to the

                                       25
<PAGE>   31
         extent that they have any interest therein, and in any name under which
         such businesses may have been conducted, and agree not to undertake to
         conduct business employing any such name or business concept at any
         place at which SuperShuttle or any of its affiliates conduct business.

In the event that the Share Exchange Agreement is rescinded, this Section 6.9
shall be void and of no further effect and any employment agreement between
AAA-LSF and a Shareholder in effect shall be terminated and the non-competition
provisions hereof shall immediately terminate.

         The Shareholder hereby specifically acknowledges and agrees that the
temporal, geographical and other restrictions contained in this Section 6.9 are
reasonable and necessary to protect the business and prospects of AAA-LSF and
SuperShuttle and that the enforcement of the provisions of this Section 6.9 will
not work an undue hardship on the Shareholder. Shareholder further agree that in
the event that either the temporal, geographical or any other restrictions, or a
portion thereof, set forth in this Section 6.9 is determined to be overly
restrictive and nonenforceable, the covenants set forth shall be reduced and
modified to those which are reasonable and enforceable under the circumstances
to the fullest extent permitted under applicable law in the judgment of the
applicable court. The Shareholder acknowledges and agrees that SuperShuttle does
not have an adequate remedy at law for the breach or threatened breach of the
covenants contained in this Section 6.9 and the Shareholder therefore
specifically agrees that SuperShuttle may, in addition to any other remedies
which may be available hereunder or as a matter of law or in equity, file a suit
in equity to enjoin the Shareholder from the breach or threatened breach.

         If the provisions of this Section 6.9 are held to be invalid or
unenforceable as against public policy, the remaining provisions of this
Agreement shall not be affected thereby.

         6.10 Collateral and/or Guarantees for Certain AAA-LSF Loans. As soon as
practical after the expiration of the Recision rights, SuperShuttle shall take
such steps to replace (i) the personal guarantees of the Shareholder on certain
AAA-LSF loans and (ii) the cash collateral pledged by certain Shareholder to
secure certain bonds and letters of credit established on behalf of AAA-LSF.
Notwithstanding the foregoing, Southern may at its option, replace such personal
guaranties and cash collateral with such bonds as are acceptable to the lender.

         6.11 Shareholder Loans. The AAA-LSF loans reflected on the books of
AAA-LSF, which are listed on Schedule 6.11 hereto, shall be forgiven by
Shareholder.

         6.12 Tax Treatment. The parties hereto will use their respective best
efforts to cause the Exchange to be a tax free reorganization under Section
368(a)(1)(B) of the Code and do not intend to take any action after the
Effective Date to cause the Exchange to lose its tax free status. All parties
hereto agree to file the Share Exchange Agreement with its respective Federal
Income Tax returns in the year in which the Exchange is effective and to comply
with the reporting requirements. The parties shall take no action with respect
to the Share Exchange to jeopardize such tax free status.

                                       26
<PAGE>   32
                                    ARTICLE 7
                                   CONDITIONS

         7.1 Conditions to Obligations of Each Party to Effect the Exchange. The
respective obligations of each party to effect the Exchange shall be subject to
the fulfillment at or prior to the Effective Time of the following conditions:

                      (a) this Agreement and the Exchange with respect to
         AAA-LSF, and the issuance of the SuperShuttle Common Stock, shall have
         been approved and/or adopted, as required by applicable law and the
         parties' Certificate/Articles of Incorporation and Bylaws, by the
         requisite vote of the Shareholder, if any, and/or the boards of
         directors of SuperShuttle and AAA-LSF;

                      (b) no temporary restraining order, preliminary or
         permanent injunction or other order issued by any court of competent
         jurisdiction or other legal restraint or prohibition preventing the
         consummation of the Exchange shall be in effect, nor shall any
         proceeding brought by an administrative agency or commission or other
         governmental authority or instrumentality, domestic or foreign, seeking
         any of the foregoing be pending; and there shall not be any action
         taken, or any statute, rule, regulation or order enacted, entered,
         enforced or deemed applicable to the Exchange, which makes the
         consummation of the Exchange illegal;

                      (c) no party hereto shall have terminated this Agreement
         as permitted herein; and

                      (d) SuperShuttle and Karen Caputo shall have entered into
         an Employment Agreement substantially in the form attached hereto as
         Exhibit "D."

         7.2 Additional Conditions to Obligations of SuperShuttle. The
obligations of SuperShuttle to effect the Exchange are also subject to the
fulfillment at or prior to the Effective Time of the following conditions:

                      (a) the representations and warranties of AAA-LSF and the
         Shareholder in this Agreement shall be true and correct in all material
         respects as of the Effective Time as if made at and as of the Effective
         Time (subject to any changes permitted or contemplated hereby and
         except for the updating or correction of the disclosures in the AAA-LSF
         Disclosure Schedule which do not reflect any change that is reasonably
         likely to have a material adverse effect on the assets, liabilities,
         business, results of operations, financial condition or prospects of
         AAA-LSF); and AAA-LSF shall in all material respects have performed
         each obligation and agreement and complied with each covenant to be
         performed and complied with by it hereunder at or prior to the
         Effective Time;

                                       27
<PAGE>   33
                      (b) AAA-LSF and the Shareholder shall have furnished to
         SuperShuttle a certificate in which AAA-LSF shall certify that the
         conditions set forth in Section 7.2(a) have been fulfilled;

                      (c) AAA-LSF shall have furnished to SuperShuttle (i) a
         copy of the text of the resolutions by which the corporate action on
         the part of AAA-LSF necessary to approve this Agreement and the
         Exchange were taken and (ii) certificates executed on behalf of AAA-LSF
         certifying to SuperShuttle that such copy is a true, correct and
         complete copy of such resolutions and that such resolutions were duly
         adopted and have not been amended or rescinded;

                      (d) AAA-LSF shall have furnished to SuperShuttle (i) a
         balance sheet dated a date not more than thirty days prior to the
         Effective Time (the "Current Balance Sheet") and (ii) an income
         statement for the period from January 1, 1998, to the date of the
         Current Balance Sheet;

                      (e) there shall have been no material adverse change in
         the business, assets, properties, financial condition or operating
         results of AAA-LSF;

                      (f) there shall not have been instituted, pending or
         threatened any action or proceeding (or any investigation or other
         inquiry that might result in such an action or proceeding) by any
         governmental authority or administrative agency before any governmental
         authority, administrative agency or court of competent jurisdiction,
         nor shall there be in effect any judgment, decree or order of any
         governmental authority, administrative agency or court of competent
         jurisdiction, in either case, seeking to prohibit or limit SuperShuttle
         from exercising the material rights and privileges pertaining to its
         ownership of AAA-LSF or the ownership or operation by SuperShuttle or
         any of its subsidiaries of all or a material portion of the business or
         assets of SuperShuttle or any of its subsidiaries, or seeking to compel
         SuperShuttle or any of its subsidiaries to dispose of or hold separate
         all or any material portion of the business or assets of SuperShuttle
         or any of its subsidiaries, as a result of the Exchange or the
         transactions contemplated by this Agreement;

                      (g) SuperShuttle shall have otherwise been reasonably
         satisfied with all of its due diligence;

                      (h) All of the transactions contemplated by Schedule
         1.1(a) and Schedule 1.1(b) shall have been consummated or shall be
         simultaneously consummated with the Effective Time in a manner
         reasonably acceptable to SuperShuttle and as contemplated by Schedule
         1.1(a) and Schedule 1.1(b).

Notwithstanding the failure of any condition in this Section 7.2, SuperShuttle
may conditionally waive the failed condition and consummate the transaction, but
shall be entitled to pursue adequate and appropriate reimbursement for all
costs, damages and liabilities in connection with the failed

                                       28
<PAGE>   34
condition and may withhold such of the Exchange consideration as SuperShuttle
deems reasonably appropriate to assure payment of the costs, damages and
liabilities associated with the failed condition.

         7.3 Additional Conditions to Obligation of AAA-LSF. The obligation of
AAA-LSF to effect the Exchange is also subject to the fulfillment at or prior to
the Effective Time of the following conditions:

                      (a) the representations and warranties of SuperShuttle set
         forth in Article 2 shall be true and correct in all material respects
         as of the Effective Time as if made at and as of the Effective Time
         (subject to any changes permitted or contemplated hereby and except for
         the updating or correction of the disclosures in the SuperShuttle
         Disclosure Schedule which do not reflect any change that is reasonably
         likely to have a material adverse effect on the assets, liabilities,
         business, results of operations, financial condition or prospects of
         SuperShuttle and its subsidiaries, taken as a whole) and each of
         SuperShuttle shall in all material respects have performed each
         obligation and agreement and complied with each covenant to be
         performed and complied with by it hereunder at or prior to the
         Effective Time;

                      (b) SuperShuttle shall have furnished to AAA-LSF a
         certificate in which SuperShuttle shall certify that the conditions set
         forth in Section 7.3(a) have been fulfilled;

                      (c) SuperShuttle shall have furnished to AAA-LSF (i) a
         copy of the text of the resolutions by which the corporate actions on
         the part of SuperShuttle necessary to approve this Agreement and the
         Exchange were taken and (ii) certificates executed on behalf of
         SuperShuttle by its corporate secretary or one of its assistant
         corporate secretaries certifying to AAA-LSF, in each case, that such
         copy is a true, correct and complete copy of such resolutions and that
         such resolutions were duly adopted and have not been amended or
         rescinded;

                      (d) SuperShuttle shall have obtained each consent and
         approval necessary in order that the Exchange and the transactions
         contemplated herein not constitute a breach or violation of, or result
         in a right of termination or acceleration or any encumbrance on any of
         SuperShuttle's assets pursuant to the provisions of any material
         agreement, arrangement or understanding or any material license,
         franchise or permit;

                      (e) all corporate action necessary by SuperShuttle to
         elect, as of the Effective Time and as contemplated by Section 6.9
         hereof, the one designee of AAA-LSF to SuperShuttle's Board of
         Directors, shall have been duly and validly taken;

                      (f) SuperShuttle shall have furnished to AAA-LSF (i) a
         balance sheet dated a date not more than thirty days prior to the
         Effective Time (the "Current Balance Sheet") and (ii) an income
         statement for the period from January 1, 1998, to the date of the
         Current Balance Sheet;

                                       29
<PAGE>   35
                      (g) AAA-LSF shall have otherwise been reasonably satisfied
         with its due diligence investigation;

                      (h) there shall have been no material adverse change in
         the business, assets, properties, financial condition or operating
         results of SuperShuttle; and

                      (i) there shall not have been instituted, pending or
         threatened any action or proceeding (or any investigation or other
         inquiry that might result in such an action or proceeding) by any
         governmental authority or administrative agency before any governmental
         authority, administrative agency or court of competent jurisdiction,
         nor shall there be in effect any judgment, decree or order of any
         governmental authority, administrative agency or court of competent
         jurisdiction, in either case, seeking to prohibit or limit the
         Shareholder from exercising the material rights and privileges
         pertaining to his or her ownership of AAA-LSF or the ownership or
         operation by AAA-LSF of all or a material portion of the business or
         assets of AAA-LSF, or seeking to compel AAA-LSF or any of its
         subsidiaries to dispose of or hold separate all or any material portion
         of the business or assets of AAA-LSF or any of its subsidiaries, as a
         result of the Exchange or the transactions contemplated by this
         Agreement.

         7.4 Conditions to the Closing. The Closing shall occur upon the
         fulfillment of the following conditions:

                      (a) SuperShuttle shall have closed the transactions
contemplated with Preferred Transportation, Inc. and Tamarack Transportation,
Inc.

                      (b) Southern shall have received written approval of the
Aviation Department for Dade County of the changes in ownership of Southern to
SuperShuttle; and

                      (c) Limousines of South Florida, Inc. ("LSF") shall have
received the written consent of Broward County to the change in ownership of LSF
to SuperShuttle.

         7.5 Other Deliveries. AAA-LSF and SuperShuttle shall cooperate after
the Effective Time to complete the following:

                      (a) AAA-LSF shall deliver full and complete AAA-LSF
         Disclosure Schedules to SuperShuttle on or before April 22, 1998; and

                      (b) AAA-LSF shall use its reasonable best efforts to
         receive the written consent, in form reasonably acceptable to
         SuperShuttle, to the transfer of the AAA-LSF Common Stock whenever
         required by the terms of each material contract to which AAA-LSF is a
         party or where required by federal, state or local law, on or before
         the Closing Date.

                                       30
<PAGE>   36
                                    ARTICLE 8
                        TERMINATION, AMENDMENT AND WAIVER

         8.1 Termination. This Agreement may be terminated at any time prior to
the Effective Time:

                      (a) by mutual written consent of a duly authorized officer
         of SuperShuttle and AAA-LSF;

                      (b) by either party if the other party breaches any of its
         material representations, warranties or covenants contained herein and,
         if such breach is curable, such breach is not cured on or prior to 10
         days after notice;

                      (c) by either SuperShuttle or AAA-LSF if a court of
         competent jurisdiction or governmental, regulatory or administrative
         agency or commission shall have issued an order, decree or ruling or
         taken any other action, in each case having the effect of permanently
         restraining, enjoining or otherwise prohibiting the Exchange;

                      (d) by either SuperShuttle or AAA-LSF if the Closing Date
         shall not have occurred on or before April 30, 1998, or such later date
         as may be mutually agreed upon by the parties;

                      (e) by SuperShuttle, if the conditions set forth in
         Section 7.2 hereof shall have not been complied with or performed and
         such noncompliance or nonperformance shall not have been cured or
         eliminated (or by its nature cannot be cured or eliminated) by AAA-LSF
         on or before April 30, 1998; or

                      (f) by AAA-LSF, if the conditions set forth in Section 7.3
         hereof shall not have been complied with or performed and such
         noncompliance or nonperformance shall not have been cured or eliminated
         (or by its nature cannot be cured or eliminated) by SuperShuttle on or
         before April 30, 1998.

provided, however, that no party shall have the right to terminate this
Agreement unilaterally if the event giving rise to such right shall be primarily
attributable to such party or to any affiliated party.

         8.2 Effect of Termination. In the event of termination of this
Agreement as provided in Section 8.1, this Agreement shall become void and there
shall be no liability or further obligation hereunder on the part of
SuperShuttle, AAA-LSF or their respective shareholders, officers or directors,
except as set forth in Sections 5.2, 6.2, 6.4(b), or 6.7 hereof.

         8.3 Amendment. This Agreement may not be amended except by an
instrument in writing approved by the parties to this Agreement and signed on
behalf of each of the parties hereto.

                                       31
<PAGE>   37
         8.4 Waiver. At any time prior to the Effective Time, any party hereto
may (a) extend the time for the performance of any of the obligations or other
acts of any other party hereto or (b) waive compliance with any of the
agreements of any other party or with any conditions to its own obligations, in
each case only to the extent such obligations, agreements and conditions are
intended for its benefit.

                                    ARTICLE 9
                               GENERAL PROVISIONS

         9.1 Survival of Representations and Warranties. All representations and
warranties made by SuperShuttle, AAA-LSF and the Shareholder in this Agreement
shall terminate as of the Effective Time or upon termination of this Agreement
as provided in Section 8.1, as the case may be.

         9.2 Public Announcements. SuperShuttle and AAA-LSF shall consult with
each other upon an agreed form of press release, and before issuing any such
press release or otherwise making any public statements with respect to the
Exchange or this Agreement. Neither SuperShuttle nor AAA-LSF shall issue any
such press release or make any such public statement without the prior consent
of the other party, which shall not be unreasonably withheld.

         9.3 Notices. All notices and other communications hereunder shall be in
writing and shall be sufficiently given if made by hand delivery, by telecopier,
or by registered or certified mail (postage prepaid and return receipt
requested) to the parties at the following addresses (or if such other address
for a party as shall be specified by it by like notice):

             If to SuperShuttle:                 SuperShuttle International,
                                                  Inc.
                                                 4610 South 35th Street
                                                 Phoenix, Arizona 85040
                                                 FAX:  (602) 243-6446
                                                 Attn:  R. Brian Wier

             With a copy to:                     Squire, Sanders & Dempsey
                                                  L.L.P.
                                                 Two Renaissance Square
                                                 40 North Central Avenue, Suite
                                                  2700
                                                 Phoenix, Arizona 85004-4441
                                                 FAX:  (602) 253-8129
                                                 Attn:  Christopher D. Johnson,
                                                         Esq.

             If to AAA-LSF or the Shareholder:   2631 Garfield St.
                                                 Hollywood, FL 33020
                                                 FAX: (954) 922-0566
                                                 Attn:  Karen Caputo

                                       32
<PAGE>   38
             With a copy to:                     Akerman, Senterfitt & Eidson
                                                 Sun Trust International Center
                                                 One S.E. Third Avenue
                                                 Miami, Florida 33131
                                                 PH:  (305) 374-5600
                                                 FAX: (305) 374-5095
                                                 Attn:  Jonathan L. Awner

         All such notices and other communications shall be deemed to have been
duly given: (i) when delivered by hand, if personally delivered; (ii) three
business days after being deposited in the mail, postage prepaid, if delivered
by mail; and (iii) when receipt is acknowledged, if telecopied.

         9.4 Interpretation. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. References to Sections and Articles refer to
sections and articles of this Agreement unless otherwise stated. Words such as
"herein," "hereinafter," "hereof," "hereto," "hereby" and "hereunder," and words
of like import, unless the context requires otherwise, refer to this Agreement
(including the exhibits and attachments hereto). As used in this Agreement, the
masculine, feminine and neuter genders shall be deemed to include the others if
the context requires. The rule of construction that an agreement is construed in
favor of the nondrafting party shall not apply to this Agreement. This Agreement
shall be deemed to have been mutually drafted by the parties.

         9.5 Schedules and Exhibits. All schedules and exhibits attached hereto
or referred to herein are hereby incorporated in and made a part of this
Agreement as set forth in full herein. Information set forth in any section to
the SuperShuttle Disclosure Schedule or the AAA-LSF Disclosure Schedule is
deemed to be set forth in all other sections of such Disclosure Schedule.
Disclosure of any fact or item in any schedule or exhibit hereto referenced by a
particular paragraph or section in this Agreement shall, should the existence of
the fact or item or its contents be relevant to any other paragraph or section,
be deemed to be disclosed with respect to that other paragraph or schedule
whether or not a specific cross reference appears. Disclosure of any fact or
item in any schedule or exhibit hereto shall not necessarily mean that such item
or fact individually is material to a party.

         9.6 Severability. If any term, provision, covenant or restriction of
this Agreement is held by a court of competent jurisdiction to be invalid, void
or unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect and shall
in no way be affected, impaired or invalidated and the court shall modify the
Agreement or, in the absence thereof, the parties shall negotiate in good faith
to modify this Agreement to preserve each party's anticipated benefits under
this Agreement.

         9.7 Jurisdiction; Venue; Service of Process. The parties expressly
agree that any controversy, dispute, litigation or claim arising out of the
subject matter of this Agreement and

                                       33
<PAGE>   39
the transactions contemplated hereby shall be brought or commenced only in a
federal or state court located in Broward or Dade County, Florida. The parties
agree to be subject to the personal jurisdiction of the federal and/or state
courts situated in Broward or Dade County, Florida and agree that a claim of
forum non-conveniens shall not be a defense to an action initiated in such
venues. The parties agree to the service of process of any such courts in any
such action or proceeding by registered or certified mail, postage prepaid,
return receipt requested, to the addresses listed in this Agreement and agree
that such service shall become effective thirty (30) days after such mailing.

         9.8 Waiver of Jury Trial. EACH OF SUPERSHUTTLE AND AAA-LSF HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHTS TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT,
TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE
TRANSACTIONS CONTEMPLATED HEREBY.

         9.9 Miscellaneous. This Agreement (together with all other documents
and instruments referred to herein): (a) is not intended to confer upon any
other person any rights or remedies hereunder; (b) shall not be assigned by any
party; and (c) shall be governed in all respects, including validity,
interpretation and effect, by the internal laws of the State of Florida, without
giving effect to the principles of conflict of laws thereof. Each certificate,
agreement or other document making reference to the Stock Purchase Agreement
among Supershuttle, AAA-LSF and the Shareholders dated as of March 31, 1998
shall be deemed to refer to this Amended and Restated Stock Purchase Agreement.
This Agreement may be executed in two or more counterparts, which together shall
constitute a single agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       34
<PAGE>   40
                  AMENDED AND RESTATED STOCK PURCHASE AGREEMENT
                                 SIGNATURE PAGE


         IN WITNESS WHEREOF, SuperShuttle, AAA-LSF and the Shareholder have
caused this Agreement to be executed on the date first written above by their
respective officers thereunder duly authorized.

                                  SUPERSHUTTLE INTERNATIONAL
                                  INC., a Delaware corporation


                                  By /s/ Thomas C. LaVoy
                                    -------------------------------------------
                                      Thomas C. LaVoy, Chief Financial Officer

                                  AAA WHEELCHAIR WAGON SERVICES,
                                  INC., a Florida corporation


                                  By /s/ Karen Caputo
                                    -------------------------------------------
                                      Karen Caputo, President

                                  WHEELCHAIR AMBULANCE OF
                                  HOLLYWOOD, INC., a Florida corporation


                                  By /s/ Karen Caputo
                                    -------------------------------------------
                                      Karen Caputo, President

                                  LIMOUSINES OF SOUTH FLORIDA,
                                  INC., a Florida corporation


                                  By /s/ Karen Caputo
                                    -------------------------------------------
                                      Karen Caputo, President

                                  A1A SNOWBIRD LEADING, INC., a
                                  Florida corporation


                                  By /s/ Karen Caputo
                                    -------------------------------------------
                                      Karen Caputo, President



                                       35
<PAGE>   41
                                  Shareholder


                                  /s/ Karen Caputo
                                  ---------------------------------------------
                                  Karen Caputo

                                       36