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Grease Monkey Holding Corporation Completes Merger with QL 3000

24 December 1999

Grease Monkey Holding Corporation Completes Merger with QL 3000

    DENVER, Dec. 23 -- Grease Monkey Holding Corporation
(OTC Bulletin Board: GMHC) today proudly announced that Grease Monkey and
QL 3000, Inc. have completed their pending merger whereby QL 3000, Inc. merged
with and into Grease Monkey.  The shareholders of the former QL 3000, Inc. are
now the sole shareholders of Grease Monkey.  Pursuant to the terms of the
merger arrangement, each outstanding share of Common Stock has been cancelled
and converted into the right to receive $1.00 in cash without interest and
each outstanding share of Preferred Stock has been cancelled and converted
into the right to receive $136.11 in cash without interest.  Grease Monkey's
Common Stock will no longer be traded on any stock market.
    Holders of Grease Monkey's outstanding Common Stock and Preferred Stock
will receive notice from American Securities Transfer & Trust, Inc., Grease
Monkey's paying agent, with instructions on where to deliver their shares.
    Grease Monkey 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.

    Statements contained in this press release that are not historical facts
are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995.  Such forward-looking statement are
subject to risks and uncertainties, which would cause actual results to differ
materially from estimated results.  Such risks and uncertainties are detailed
in Grease Monkey's filings with the Securities and Exchange Commission.