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Major Automotive Group Used Car Sales Up 60%, Sets Another Record

9 February 2000

Major Automotive Group Used Car Sales Up 60%, Sets Another Record; Sales of Used Cars Hits 631 in January, Up from Prior January

    KEW GARDENS, N.Y.--Feb. 9, 2000--Fidelity Holdings, Inc. today announced that the Company's subsidiary, Major Automotive Group has set another record for itself in used car sales at its Major World location in Long Island City, New York, reaching 631 used vehicles sold in the month of January. This is an increase of approximately 60% from January 1999, during which month the Major Automotive Group sold 395 used vehicles. Major Automotive Group's Major World location in Long Island City is the New York metropolitan region's largest retailer of pre-owned vehicles.
    "We are excited about setting yet another monthly record at Major World," said Bruce Bendell, Chairman of Fidelity, "Our continuing efforts in establishing our Major World branding, effective advertising campaigns, combined technology, e-commerce and great improvements in customer satisfaction all helped to bring about this great accomplishment by our dedicated staff."
    James Wallick, Chief Operating Officer of Fidelity commented, "An outstanding achievement. Our Major World team has done it again, with the help of our new technology and exciting e-commerce programs, in reaching this significant milestone. We salute the entire team for their tireless efforts. As our used cars sales presence grows, future acquisition candidates may see the appeal of becoming a Major World dealership."
    Fidelity Holdings is a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The company has operated two divisions - Automotive 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 its IG2, Inc., subsidiary and its Info Systems, Inc. subsidiary.
    For additional information, visit our website at www.fdhg.com, www.majorautomotive.com, www.majorworld.com, www.carstv.com and www.internetconnections.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-KSB and other publicly available information regarding the Company, copies of 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 of the influence and/or control of the Company.