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Grease Monkey International, Inc. Announces Master Franchise

17 July 1998

Grease Monkey International, Inc. Announces Master Franchise Agreement for Mexico Locations

    DENVER, July 16 -- Denver-based Grease Monkey International,
Inc., announced today that it has entered into a strategic alliance with
Mexico-based UNILUBE to handle the day-to-day operational, training and
development activities for Grease Monkey centers in Republic of Mexico.
Grease Monkey will continue to oversee all strategic planning and quality
compliance from its International Support Center in Denver.
    "We are very pleased to finally have an effective national partner in
Mexico," said Charles Steinbrueck, president and CEO of Grease Monkey
International, Inc.  "It brings a new level of quality execution to our
Mexican franchise owners and adds new strength to our day-to-day operations
there.  A Master Franchisee in Mexico will allow us to devote our full
operating energies to our important US markets."
    Grease Monkey opened its first location in Mexico in 1993 and currently
has 21 franchise locations there.  Nine more locations are scheduled to open
by the end of 1998.
    Antonio Ramon and Victor Hinojosa, who have owned and operated individual
Grease Monkey franchises in Mexico since 1994, formed UNILUBE to serve as the
Master Franchise for Grease Monkey International in Mexico.  "We are excited
about this new partnership with Grease Monkey," said Ramon.  "We strongly
believe Grease Monkey can become the leading automotive preventive maintenance
company in Mexico."
    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.  Grease Monkey International's parent company, Grease
Monkey Holding Corporation (OTC Bulletin Board: GMHC) is a publicly traded
company.