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Grease Monkey International, Inc., Announces Appointment of Chief Financial Officer

19 March 1998

Grease Monkey International, Inc., Announces Appointment of Chief Financial Officer

    DENVER, March 18 -- Grease Monkey International, Inc., the
largest independent operator and franchisor of quick lube centers in the
United States and in Mexico, today announced the appointment of Bruce D.
Fraser to the new position of Senior Vice President and Chief Financial
Officer.  The company also announced that T. Timothy Kershisnik, its current
treasurer, secretary and controller will be stepping down.
    Fraser will take on the role of CFO, a position that does not currently
exist at Grease Monkey.  "We are at a point in our development where we need a
much more strategic approach to the financial side of our business, and having
a CFO as accomplished and knowledgeable as Bruce will help us accomplish
that," said Grease Monkey president and CEO Charles E. Steinbrueck.  "We are
pleased to have someone with Bruce's talents on board."
    Fraser most recently served as the CFO and vice president of finance for
Unidata, Inc., a private software company based in Denver.  At Unidata, he was
responsible for restructuring the company's finance organization, refinancing
its bank debt and financing a number of major acquisitions.  Before coming to
Unidata, Fraser worked for investment banks in New York and London.  He has
also previously served as a corporate treasurer of a large energy services
company.  Fraser holds an MBA from Northwestern University.
    Grease Monkey simultaneously announced that T. Timothy Kershisnik, who
currently serves as the company's treasurer and controller will be stepping
down to pursue other interests.  Kershisnik has been with Grease Monkey since
1992.  "I am grateful to Tim for his many years of service to the
organization," said Steinbrueck.  "We all wish him the best in his new
endeavors."
    Grease Monkey is one of the nation's largest franchisors of fast lube and
oil change centers.  With 212 centers in 31 states and Mexico, 32 of which are
company-owned, Grease Monkey is the largest quick lube organization not owned
by a major oil company.  In Colorado, Grease Monkey operates 19 company-owned
centers located throughout the Denver Metro area and has 32 franchised
centers.  Grease Monkey International's parent company, Grease Monkey Holding
Corporation is a publicly traded company.

SOURCE  Grease Monkey International, Inc.