---

Grease Monkey Holding Corporation Reports Second Quarter 1999 Results

10 August 1999

Grease Monkey Holding Corporation Reports Second Quarter 1999 Results

    DENVER, Aug. 10 -- Grease Monkey Holding Corporation
(OTC Bulletin Board: GMHC), today announced results for its three month and
six-month periods ended June 30, 1999.
    The Company reported operating income for the second quarter of 1999 of
$374,498 compared to an operating loss of ($31,356) for the same period in
1998.  Operating income for the six-month period ended June 30, 1999 was
$615,249 compared to an operating loss of ($226,580) compared to last year.
    The improvement in operating income was primarily a result of cost
reductions implemented in the fourth quarter of 1998 combined with
improvements in Company-owned Center operations, according to Rex L. Utsler,
President and Chief Operating Officer of Grease Monkey Holding Corporation.
    The Company-owned Centers realized a growth in operating margin
(Company-owned Center sales less expenses, excluding interest, depreciation
and amortization) of 38% for the three-month period ended June 30, 1999 and
33% for the six-month period ended June 30, 1999 as compared to prior year.
    Grease Monkey International, Inc. is the largest independent quick lube
organization in the United States and ranks third in size in the industry.
The Company, which is a leading provider of preventive maintenance services
for automobiles, has more than 200 Grease Monkey Centers operating in the
United States and Mexico.

    CONSOLIDATED FINANCIAL HIGHLIGHTS

                         Second Quarter Ended              Six Months Ended
                              June 30,                           June 30,
                          1999         1998               1999         1999

    Revenue          $5,293,654      $5,214,191      $10,187,668 $10,183,892
    Net income
     (loss)            $201,418       $(238,925)        $193,232   $(655,160)

    Earnings (loss)
     per common
     share                $0.04           $(.06)           $0.03      $(0.15)

    Earnings (loss)
     per common
     share assuming
     dilution             $0.03           $(.06)           $0.03      $(0.15)
    Weighted Average
     Shares
     Outstanding      4,684,377       4,647,409        4,667,914   4,644,623