Fidelity Holdings Requests Hearing With Nasdaq

    KEW GARDENS, N.Y.--Feb. 14, 2001--Fidelity Holdings, Inc. , today announced that the Company has received a Nasdaq Staff Determination indicating that the Company fails to comply with the minimum bid price requirement for continued listing set forth in Nasdaq Marketplace Rule 4450(a)(05) and that its securities are, therefore, subject to delisting from the Nasdaq National Market.
    The Company has been granted a hearing on March 22, 2001 before a Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurance the Panel will grant the Company's request for continued listing. Fidelity notes that it is in compliance with all other requirements for continued listing.

    Fidelity Holdings' Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan area. Fidelity Holdings, Inc. has announced its intention to divest its non-automotive activities by way of sale, merger, consolidation or other opportunities, and has announced that it plans to change its name to The Major Automotive Companies, Inc.
    For additional information, visit the Company's websites at www.fdhg.com, www.majorautomotive.com and www.majorworld.com.

    The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's annual report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.