Fidelity Holdings Retains New York Investment Banking Firm

20 October 1998

Fidelity Holdings Retains New York Investment Banking Firm Capital Markets America

    NEW YORK--Oct. 19, 1998--Fidelity Holdings Inc. has retained the New York investment banking firm of Capital Markets America Inc. as its financial advisor, to assist in various acquisitions, business combinations and financing arrangements, and develop a long term plan to determine, build and realize shareholder value.
    The firm is headed by Harvey A. Wall, who employs his extensive experience and working knowledge of the securities industry to facilitate a viable, efficient and cost-effective method of identifying opportunities and closing transactions.
    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, which includes Major Automotive Group, a leading consolidator of automotive dealerships in the New York area, owns and operates Chevrolet, Chrystler, Plymouth, Dodge, Jeep and Subaru dealerships, and its division of technology which includes a voice processing, targeting automotive and other innovations, and its computer telephony services.
    For additional information visit our websites at http://www.fdhg.com and http://www.majorautomotive.com