"Lets Just Sell Cars!The Major Automotive Companies Concludes Agreement for Sale of its CBS -Israel- and Info Systems Subsidiaries

    LONG ISLAND CITY, N.Y.--July 12, 2001--

    - The Company continues its divestiture of technology operation-

    The Major Automotive Companies, Inc. today announced it has sold the stock of its wholly-owned Israeli subsidiary, C. B. S. Computer Business Sciences, Ltd. ("CBS-Israel") and the assets of its wholly-owned Canadian subsidiary, 786710 Ontario Ltd., d/b/a Info Systems, to GYT International, Ltd., a Nevis corporation, led by Dr. Zvi Barak, an executive officer of CBS-Israel.
    Terms were not disclosed.
    Bruce Bendell, Chairman and Chief Executive Officer of the Major Automotive Companies, stated, "We are pleased to have successfully finalized the sales of these two foreign components of our former technology division. With this sale, we are close to concluding the complete divestiture of our non-automotive related operations in a manner that we believe will most benefit our shareholders. As our first quarter earnings demonstrated, Major Automotive's success, with its focus solely on automotive operations, will help continue its growth in our plan to become the dominant dealership group in the New York metropolitan area."
    The Major Automotive Companies is a leading consolidator of automotive dealerships in the New York Metropolitan area and is continuing to divest its remaining non-automotive activities by way of sale, merger, consolidation or other opportunities.
    For additional information, visit the Company's website at http://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 and Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's annual report on Form 10-K 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.