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Fidelity Holdings Announces BDO Seidman, LLP

10 February 1999

Fidelity Holdings Announces BDO Seidman, LLP as the Company's Accounting Firm & Auditors

    KEW GARDENS, N.Y.--Feb. 10, 1999--Fidelity Holdings, Inc. today announced BDO Seidman, LLP has been retained as the Company's new auditors, replacing Peter C. Cosmas Co., CPAs.
    "BDO Seidman specializes in providing services and solutions through a worldwide network of accountants and consultants," stated Doron Cohen, President of Fidelity Holdings. He added: "As the Company continues to expand all three divisions: Automotive, Technology and Plastics, BDO Seidman will provide the additional services we require."
    Fidelity Holdings is a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The Company operates three divisions - Automotive, Plastics and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan area. The Technology Division operates under Computer Business Sciences and its new IG2, Inc. subsidiary. The Plastics Division is developing proprietary products through existing patents.
    Fidelity Holdings, Inc. is presently exploring the divestiture of its non-automotive activities by way of sale, merger, consolidation or other opportunities. For additional information, visit our website at www.fdhg.com, www.majorautomotive.com and www.majorworld.com.

The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's annual report on form 10-k and other publicly available information regarding the Company, copies which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside the influence and/or control of the Company.