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Holiday RV Superstores Founders Sell Controlling Equity Stake

1 July 1999

Holiday RV Superstores Founders Sell Controlling Equity Stake To Florida-Based Investment Group

    New Owners Focused on Consolidating Fragmented RV & Marine Dealerships

    ORLANDO, Fla., July 1 -- Holiday RV Superstores, Inc.
today announced that founders Newton C. and Joanne M. Kindlund
have sold a controlling interest in the Company to Atlas Recreational
Holdings, Inc., a Florida-based investment group.  Terms of the privately
negotiated transaction were not disclosed.
    The Orlando, Fla.-based chain of RV and boat dealerships said Atlas
Recreational Holdings Chairman Michael Riley will serve as chairman of the
board of Holiday RV Superstores effective immediately.  Hardee McAlhaney, who
has served as the Company's chief financial officer for the past 10 years,
will be elevated to the post of president and chief executive officer.  The
Kindlunds will continue to work with the Company as consultants and will hold
a minority interest in Holiday RV Superstores.
    "This transaction will bring considerable benefits to shareholders,
employees, suppliers and customers of Holiday RV Superstores," Newton Kindlund
said.  "The strength of the current management team, combined with the
strategic and financial resources of Atlas, put Holiday RV Superstores in
prime position to become the clear industry leader, in terms of size and
quality of service."
    Chairman Riley said:  "The overall growth and current dynamics in the
$16 billion RV industry represent a significant window of opportunity over the
next few years.  The RV dealer business is particularly attractive because it
is dominated by single-store operators and primed for consolidation.  As a
proven multi-store operator with a strong balance sheet and public equity,
Holiday RV represents an ideal company to consolidate the highly fragmented RV
dealership segment, as well as the marine dealership business.  We will
provide resources and expertise to accelerate the acquisition process that has
already begun under the direction of Mr. McAlhaney."
    Riley, 46, has significant experience in the areas of mergers and
acquisitions and has been practicing law for more than 20 years.  A native
Floridian, Riley holds a juris doctorate from the University of Notre Dame.
    McAlhaney, 52, also brings considerable experience related to mergers and
acquisitions to his new post.  Over the past 21 years, he has participated in
nearly three dozen acquisitions, including 5 transactions at Holiday RV, and
during his tenure as chief financial officer of The Athlete's Foot, an
Atlanta-based specialty retail chain.  He joined Holiday RV Superstores as
corporate controller in 1988, and has served as the Company's vice president
and chief financial officer since 1991.
    Riley continued:  "We look forward to working closely with Mr. McAlhaney,
the Kindlunds and the entire Holiday RV management team to accelerate the
Company's growth plan, particularly acquisitions of other RV and marine
dealerships."
    Holiday RV Superstores (http://www.holidayrv.com) is one of the nation's
leading retailers of recreational vehicles and boats.  The Company sells,
services and finances more than 50 RV and boat brands from its chain of
seven dealerships in California, Florida, New Mexico and South Carolina.

    The statements contained in this news release include certain predictions
and projections that may be considered forward-looking statements under
securities laws.  These statements involve a number of risks and uncertainties
that could cause results to differ materially including, but not limited to,
the performance of the recreational vehicle or boat industries, certain
customers or affiliated companies, as well as other economic, competitive,
governmental and technological factors affecting the Company's operations,
markets, products, services and prices.