MAII Holdings, Inc. Announces Reverse Merger of Its Subsidiary, Car Rental Direct, Inc., Into a Public Shell, Gump & Company, Inc.

    LOS ANGELES--June 28, 2002--MAII Holdings, Inc. (OTC:MAII) today announced that it has completed a merger of its wholly-owned subsidiary, Car Rental Direct, Inc. ("CRD"), with a newly-formed subsidiary of Gump & Company, Inc. ("Gump") (OTC:GUMP), an over the counter bulletin board traded public company with no revenues and no employees.
    Pursuant to such merger, CRD became a wholly-owned subsidiary of Gump, with MAII owning approximately 97% of the issued and outstanding shares of capital stock of Gump. As part of such merger, Gump has changed its name to "CRD Holdings, Inc." and Gump's trading symbol has been changed to "CRDH".
    "This is Stage One of our previously announced `spin-out' strategy to create the best access to the capital markets for CRD. As a `pure play' public company, shareholders and lenders can best assess the performance and creditworthiness of CRD; and access to capital markets is one of the most significant critical success factors of our business," said Chris Tyler, CEO and Chairman of MAII and CRD.
    "This merger with a public company also provides us additional tools to accelerate our growth, including adoption of an employee stock option plan, acquisition currency and access to talent through equity incentives, which will enable us to compete more effectively." Mr. Tyler continued, "Stage Two of the spin-out calls for CRD to build up its balance sheet and to significantly expand its vehicle fleet and number of locations. We expect the next few years to be very exciting and value creating for our CRD shareholders."

    About MAII Holdings, Inc.

    MAII is led by a management team with expertise in mergers and acquisitions and business development. MAII's focus is in the growth and management of specialized early stage technology driven companies that serve consumer and business-to-business markets.

    About Car Rental Direct, Inc.

    CRD, a wholly owned subsidiary of MAII, is emerging as a regional leader in the replacement segment of the automobile rental industry, providing vehicles for businesses and consumers via short- and long-term rental contracts. CRD operates primarily in the Southwest US and has a fleet of over 2000 cars and 20 locations. CRD's customer composition mix is as follows: 70% body shops, 10% retail, 10% dealerships and 10% insurance companies.

    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.