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Pride, Inc. & Digital Mafia Complete Merger

23 June 1999

Pride, Inc. Former Subsidiary DME Interactive Holdings, Inc. - Formally Pride Automotive Group, Inc. - Completes Merger

    WATFORD, U.K.--Pride, Inc. announced today that its former subsidiary, Pride Automotive Group, Inc. has completed its previously announced merger with Digital Mafia and it has changed its name to DME Interactive Holdings, Inc. Details on the transaction were released yesterday by DME Interactive Holdings.

    As part of the transaction, Pride, Inc. has acquired, through a subsidiary, DME's 16% shareholding in AC Automotive Group, Inc., owner of AC Car Group Ltd, the English manufacturer of the AC Ace, AC Aceca and AC Cobra range of specialist automobiles. Pride, Inc. has also acquired, through a subsidiary, DME's English subsidiary, Pride Management Services plc, a company in the process of winding down its automotive leasing operations. Pride, Inc, has retained its 1,425,000 shares (out of a total of 23,352,999) in DME.

    Pride,Inc. has also announced that it's Management will be looking at future strategy now that it's investment in DME has become a minority investment and further details will be released as soon as they become available.