Lynch Interactive Board Approves Investment in the Morgan Group

    ELKHART, Ind.--May 15, 2001--The Morgan Group, Inc. (AMEX:MG), today announced that the Board of Lynch Interactive Corp. (AMEX:LIC) has approved a $2.0 million equity investment in Morgan.
    As stated in the Morgan Group press release dated May 8, 2001, the investment will increase Lynch Interactive's ownership of Morgan common stock from 55.6% to 68.5%. The Lynch Interactive Board approved the investment at its Board meeting yesterday.
    The new investment involves the issuance of 1.0 million additional Morgan Class `B' shares. The Board of Directors of Morgan approved the issuance of the additional shares at a Board meeting on May 9, 2001. The issuance of additional shares of Class `B' stock and related matters will be subject to approval of Morgan shareholders.
    The Morgan board also authorized management to further develop plans to provide an opportunity for other shareholders to acquire additional equity investment in the Company.

    The Morgan Group, Inc., through its subsidiaries Morgan Drive Away, Inc., and TDI, Inc. ("Morgan Drive Away"), is the nation's largest company managing the delivery of manufactured homes, commercial vehicles and specialized equipment in the United States.

    This press release contains forward-looking statements, including initiatives relating to profitability. Such statements are subject to a number of material factors that could cause the statements or projections contained therein to be materially inaccurate. Such factors include, without limitation, successful implementation of profit initiatives, overall economic conditions, competition for customers and drivers, and risks associated with business operations, acquisitions, expansion into new business lines, and changes in the regulatory environment.