Nevada Holding Group Signs Letter of to Acquire Innovative Asset Solutions

    LAS VEGAS--June 4, 2002--Nevada Holding Group, Inc., (OTCBB:NVHG), announced today that it has signed a Letter of Intent to acquire the shares or assets of Innovative Asset Solutions, a Houston, Texas based asset recovery and management company that operates under the name of VanPros. The Letter of Intent grants Nevada Holding exclusivity for a sixty - day period. Terms of the acquisition are to be negotiated by the parties.
    VanPros provides an array of vehicle repossession, debtor location, and vehicle transportation and reconditioning services. Kyle Vance, President of VanPros stated, "We are excited about the possibility of joining forces with Nevada Holding. VanPros has positioned itself as an industry innovator by being the first to offer online status and vehicle condition reports to our clients, as well as vehicle photographs. Our emphasis on timely and efficient service has landed us significant contracts with major automotive finance companies such as Ford Financial, Daimler-Chrysler and GMAC."
    John King, Acting CEO for Nevada Holding commented: "VanPros is yet another instance of a revenue generating company operating successfully in a niche market. As always, when targeting an acquisition candidate we continue to focus on business opportunities that have existing sales with the potential for significant growth as a result of our involvement. "

    About Nevada Holding Group, Inc.

    The Company's mission is to acquire ownership or strategic positions in potentially profitable enterprises that will enhance the value of its holdings. Each of these companies must have the potential to be a stand-alone profit center within one year after acquisition. Nevada Holding selects its acquisition targets for their proven value and existing business. The Company's model is to implement economies of scale via consolidation of certain management, accounting, purchasing and sales/marketing activities. The Company believes that this strategy provides the ability to significantly increase shareholder value, while minimizing the need for capital expenditures. Nevada Holding also identifies companies with potentially mutual synergies within its portfolio of acquisitions. For more information on Nevada Holding Group Inc., go to http://www.nevadaholding.com/.

    About Innovative Asset Solutions, Inc.

    Innovative Asset Solutions (VanPros) is a privately held corporation providing damage free vehicle repossession, and transportation services, and vehicle reconditioning as well as debtor tracing. VanPros allows clients to access status reports and account lists online while providing web- based communications with field personnel and viewing of vehicle condition reports and photographs.

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased" "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.