MAII Holdings, Inc. Expresses Disappointment at Solution 6's Rejection of Merger Proposal

    LOS ANGELES--March 13, 2002--MAII Holdings, Inc. (OTCBB:MAII), announced that it has been notified by the Board of Directors of Solution 6 Holdings Ltd. (ASX:SOH) that MAII's previously announced proposal to merge the two companies was rejected by the SOH Board.
    MAII's offer was for AUD$0.80 (US$0.41) per SOH share, payable in MAII common stock with such exchange share price determined by the 10-day average closing price prior to completion of the merger at the prevailing currency exchange rate as of the date of completion. Since the announcement, SOH shares are currently trading at AUD$0.82 and MAII's shares are trading at $1.80 USD.
    "We are disappointed that the current Solution 6 Board of Directors does not share our enthusiasm for the prospects associated with a merger of our two companies," stated Chris Tyler, Chairman and Chief Executive Officer of MAII Holdings. "Solution 6 shareholders would benefit from our proven value enhancing capabilities. As large shareholders in SOH we have watched the valuation of the company erode significantly during Mr. Gambles watch. I feel a leadership change would significantly benefit the shareholders of SOH and I am very excited about the opportunity to participate in that role. Therefore we will continue to pursue a transaction with Solution 6."
    Mr. Tyler is the former Chief Executive Officer of SOH. During his tenure with the Company from March 1997 through May 2000, Mr. Tyler was responsible for the significant development and expansion of the business via new product lines into more markets and increased saturation of existing markets. He was also instrumental in attracting for SOH significant institutional investment and analytical research coverage from Investment banks that include Salomon Smith Barney, Merrill Lynch, UBS Warburg, BNP Paribas, ABN Amro, JB Weir and others. In just over three years as CEO, SOH stock traded at AUD$0.45 upon Mr. Tyler's start with the company, and AUD$3.50 upon his departure, representing an increase of over 750% during the three year period. "I am very confident in our ability to recreate our great value creation run at Solution 6," Mr. Tyler said in closing.

    About MAII Holdings, Inc.

    A board & management team leads MAII Holdings, Inc. with significant expertise in technology and in mergers and acquisitions. The Company's focus is in the growth and management of specialized technology driven companies that serve consumer and business-to-business markets. A wholly owned subsidiary, Car Rental Direct, formerly Car Rental Direct.com, is emerging as a fast growing leader in the replacement segment of the automobile rental industry, providing vehicles for businesses and consumers via short- and long-term rental contracts.
    MAII's CEO & Chairman, Mr. Chris Tyler, was the CEO of Solution 6 Holdings, Ltd. from April, 1997 to May, 2000.

    The Private Securities Litigation reform act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MAII Holdings, Inc.) contains statements and other matters that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements made by MAII Holdings, Inc. For a description of additional risks and uncertainties, please refer to the MAII Holdings, Inc. filings with the Securities and Exchange Commission, including MAII Holdings, Inc.'s Form 10-k.