Associated Automotive Group to Acquire C&K Auto Imports

FORT LAUDERDALE, Fla., Dec. 21 -- Uniservice Corporation announced today that its pending acquisition candidate, Associated Automotive Group, Inc. (``AAGI''), has entered into an agreement in principle to acquire C&K Auto Imports, Inc. (``C&K'') in a transaction valued at $3.1 million.

The transaction is expected to be accretive to AAGI's earnings in 2002 and will produce a combined company in excess of $70 million in revenue for the twelve months ending December 31, 2001. The Boards of Directors of both AAGI and C&K have approved the transaction, which is expected to close by the end of January 2002.

Under the terms of the definitive agreement, AAGI will pay $1 million in cash and 750,000 restricted shares of AAGI to acquire all of the operating assets of C&K. The AAGI shares to be paid for C&K will come from currently issued and outstanding shares of AAGI, which shares upon closing of the Uniservice transaction, will be exchanged for shares of Uniservice.

C&K Auto Imports, Inc. was founded in 1986 and is wholly owned by Doron Saurer, who will become part of the AAGI operating team. C&K owns a leading retail highline automobile dealership in Hasbrook Heights, NJ that services the greater New York City metropolitan area. C&K also owns a highline automobile wholesale operation and service facility strategically located in Leonia, NJ, which is generally known to be the largest automobile wholesale hub east of the Mississippi River. C&K expects to report approximately $24 million in revenue and be profitable for the year ending December 31, 2001.

Commenting on the deal, David Jacoby, Vice President of AAGI, stated, ``The acquisition of C&K provides two critically important elements to our business model: 1.) It provides AAGI with immediate vertical integration adding C&K's wholesale and automobile procurement operation, which will feed highline automobiles to our retail outlets; and 2.) It gives us a significant retail presence in the greater New York City and tri-state area that we feel can be greatly expanded upon and branded. Moreover, we are thrilled to add one of the auto industry's most respected operators in Doron Sauer. We believe his talents, skill sets and industry contacts will prove to be a significant asset to AAGI.''

Uniservice shareholders recently approved the acquisition of Associated Automotive Group, Inc. (``AAGI''), a holding corporation, which was formed to own and operate various highline and exotic car dealerships, accessory and other automotive businesses throughout the United States. Uniservice shareholders also approved the sale of substantially all of the Company's current operating assets, specifically, its 31 Kentucky Fried Chicken restaurants in the Santiago, Chile area.

Effective with the formal closing of the transaction, AAGI will become the principal operating business. Following the closing, Uniservice will change its name to Associated Automotive Group, Inc. Upon the closing of the deal, Uniservice will have approximately 11 million shares outstanding and AAGI will then be the principal wholly owned subsidiary of Uniservice. It is anticipated that the closing will occur prior to year-end.

AAGI currently operates through its wholly owned subsidiary, Motorcars of South Florida, Inc., (www.motorcarsofsouthflorida.com ), a leading highline and exotic car dealership located in Delray Beach, Florida. In the past three years Motorcars' gross revenues have increased from $24.7 million in 1998 to $58.3 million in 2000.

AAGI's strategy is to become the first national operator of retail highline auto dealerships complete with financing facilities and associated services. AAGI plans to attain a national footprint through strategic acquisition of dealerships as well as organic expansion of its existing operations. Its business plan contemplates it will acquire or open several additional highline dealerships in 2002 and 2003.