Fidelity Holdings, Inc. Begins Trading On Nasdaq Stock Market

8 October 1998

Fidelity Holdings, Inc. Begins Trading On Nasdaq Stock Market

    KEW GARDENS, NY--October 7, 1998--Fidelity Holdings, Inc. (FDHG:Nasdaq) announced that effective today, the Company began trading on the Nasdaq Stock Market. As of 10:30 a.m. EST, the stock was trading at $5.75, up 24.32%, after opening at $5.00.
    The Company's Common Stock, previously traded under the same symbol on the Over-the-Counter market, has now moved up to the Nasdaq SmallCap Market.
    In making the announcement, Bruce Bendell, President and Chief Executive Officer, noted, "We believe that today's move to Nasdaq, combined with our proven track record in automotive retailing, will be instrumental in generating the amount of exposure and interest our story deserves. As a leading consolidator of automotive dealerships in the New York-area, we feel that our acceptance by Nasdaq allows us to participate on a level playing field with other national consolidators."
    Fidelity Holdings, Inc. is a diversified holding company utilizing information and technology to target industries experiencing consolidation and/or deregulation. The Company presently operates two distinct divisions, its Automotive Division and its Division of Technology which includes a Voice Processing and Computer Telephony Division. Major Acquisition Corp., a leading consolidator of automotive dealerships in the New York area, owns and operates CHEVROLET, CHRYSLER, PLYMOUTH, DODGE, JEEP and SUBARU dealerships.
    For additional information, feel free to visit our websites at http://www.fdhg.com and http://www.majorautomotive.com.

This press release may include certain forward looking statements about the Company that are based on management's current expectations. Actual results may differ materially as a result of any one or more of the risks identified in the Company's filings under the Securities Exchange Act of 1934.