Pickups Plus Announces Continued Growth

    MASON, Ohio--Feb. 26, 2002--Pickups Plus, Inc. (OTCBB:PUPS), a leading retailer and national franchiser in the $30 billion truck and SUV aftermarket accessories industry, announced today that its Columbus, Ohio franchise reached one million in annual revenue in its first full calendar year of operation.
    John Fitzgerald, Chairman and President, stated, "We are extremely pleased with the first year results for the Columbus, Ohio location. This milestone demonstrates the continued growth and strength of the Pickups Plus concept. The franchise is off to a strong start and has been an excellent mentor for our two newest franchises (New Orleans, Louisiana and Seattle, Washington). Our New Orleans franchise has been experiencing a strong acceptance in its first two quarters of operation and we are hoping for the Washington franchise to experience similar results when it opens this spring." In addition, Pickups Plus' corporate stores continue to show strong results. The Company's Florence, Ky. store had record December, with same store sales increase of 17% and Sharonville, Ohio location had its strongest sales volume in January 2002 with same store sale increase of 40% over the previous January 2001.Based on current Sales trends, Pickups Plus expects these results to continue in 2002.
    According to a forecast from the National Automobile Dealers Association (NADA), new car and light truck sales are expected to remain historically strong in 2002. In 2001, light trucks made up slightly more than 50 percent of total light vehicles sales for the first time.
    Pickups Plus is also in the process of refinancing the Company's capital structure. This refinancing is intended to result in debt reduction, the elimination of convertible debentures, the extension of debt maturities and enhanced liquidity. Pickups Plus entered into a Letter of Intent in January and expects several components of the refinancing will be completed this week.

    About Pickups Plus
    Pickups Plus is a leading national operator and franchiser of retail stores dedicated to the sale and installation of quality aftermarket accessories for pickup trucks and SUV's. Pickups Plus currently operates four corporate retail stores and has another seven franchise stores throughout seven states. After several years of extensive development and testing of its franchise system, the Company intends to start a nationwide expansion in both corporate and franchise stores to become the first national chain in its growing, but highly fragmented industry.

    Safe Harbor Statement: Except for historical information contained herein, the statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, Section 21E of the Securities Act of 1934 and the Private Securities Litigation Act of 1995. Forward-looking statements involve known risk and uncertainties, which may cause the Company's actual results in the future to differ materially from forecasted results.