Recreation USA Reports First-Quarter Results

    FT. LAUDERDALE, Fla., March 23 Holiday RV Superstores,
Inc. , which is doing business under the tradename Recreation
USA, today announced its financial results for the first quarter of fiscal
2001.

    The Ft. Lauderdale, Fla. recreational vehicle and marine retailer reported
a net loss of $2.7 million, or $0.35 per share, on sales of $33.2 million for
the first quarter, which ended Jan. 31, 2001, compared with a net loss of
$193,012, or $0.03 per share, on sales of $34.0 million for the same period in
fiscal 2000.

    "Recreation USA is in the same position as other manufacturers and dealers
in the RV industry who weathered lackluster sales and skittish consumer
confidence at the close of the year," said Michael Riley, chairman and chief
executive officer.  "It was the single toughest quarter we have faced as a
public company.

    "The good news is that our business has improved.  We have experienced
stronger sales and higher margins during the second quarter.  We have seen
that interest rate cuts and lower price points have motivated buyers to return
to our stores.  Increased sales coupled with expense reduction will drive us
to strong profitability in the second quarter."

    Riley said that retail and cost-containment expert Marcus Lemonis, who was
appointed president earlier this month, has been tapped to lead Recreation
USA's return to profitability.  Lemonis, who joined Recreation USA after a
five-year stint at retail giant AutoNation, is working directly with each
management team at the dealership level to increase retail opportunities,
eliminate redundant costs and reach the $2.5 million goal in expense
reductions set by the Company in January 2001.

    Key to that success has been maintaining better control of inventory.
Lemonis said that the dealerships are now keeping a tighter day supply of
vehicles and changing the product mix they offer to appeal to the monthly
budget of today's consumer.  This shift has led to improved margins during the
second quarter.

    "While we remain committed to building a national brand through
acquisitions, we must take steps to better integrate our new stores and manage
our growth process," Lemonis said.  "This process begins by establishing best
practices that are unique to Recreation USA and allow us to offer a high level
of customer-oriented sales and service at all our dealerships."

    

    HOLIDAY RV SUPERSTORES, INCORPORATED AND SUBSIDIARIES
    CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

                                                     Three Months Ended
                                                01/31/01            01/31/00
                                              (Unaudited)         (Unaudited)

    Sales and service revenue                 $33,219,727         $34,038,673

    Cost of sales and service                  28,031,735          28,503,788

         Gross profit                           5,187,992           5,534,885

    Selling, general and administrative
     expenses                                   6,822,190           5,025,861

         Income (loss) from operations         (1,634,198)            509,024

    Other income (expense):
         Interest expense                      (1,410,018)           (777,136)
         Total other income (expense)          (1,410,018)           (777,136)

    Loss before income tax benefit             (3,044,216)           (268,112)

    Income tax benefit                           (380,836)            (75,100)

    Net loss:                                 $(2,663,380)          $(193,012)


    Basic and diluted loss per common
     share                                         $(0.35)             $(0.03)

    Weighted average number of shares -
         Basic and diluted                      7,639,300           7,226,000