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Sales of Used Car Grow to Achieve Record Month At Fidelity Holdings' Major Automotive Subsidiary

16 March 2000

Sales of Used Car Grow to Achieve Record Month At Fidelity Holdings' Major Automotive Subsidiary; - Exceed 700 Cars Per Month in February, Up 31% from Prior February -

    KEW GARDENS, N.Y.-- March 16, 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 701 used vehicles sold in the month of February, 2000. This is an increase of more than 31% from February 1999, during which month the Major Automotive Group sold 479 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.
    Bruce Bendell, Chairman of Fidelity, stated: "Major Automotive's impressive used car sales are a result of an valuable and efficient operation, advertising campaign, and recognition as a regional leader in the automotive industry. We believe that this momentum will continue as Major pursues its aggressive acquisition strategy and capitalizes upon its prime Long Island City location. Our staff has worked hard to establish Major World as the place customers go to purchase a pre-owned vehicle at a good price, good quality and great service."
    James Wallick, Executive Vice-President of Fidelity, added: "We are very encouraged with the increased sales volume of used cars in our Long Island City operation. Not only does it demonstrate the increased awareness of Major's advertising prowess and satisfaction guarantee, it is also the sector of the automotive dealership business yielding the highest return."
    Fidelity Holdings is a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The Company operates 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 primarily through Computer Business Sciences, its IG2, Inc. subsidiary, its Info Systems, Inc. subsidiary and its CarsTV.com, Inc. subsidiary.

    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.