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Q1 Used Car Sales Increase 70% At Major Automotive Group

17 April 2000

First Quarter Used Car Sales Increase 70% At Fidelity Holdings' Major Automotive Group

    KEW GARDENS, N.Y.--April 14, 2000--Fidelity Holdings, Inc. (NASDAQ:FDHG) 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 724 used vehicles sold in the month of March, 2000. This is an increase of more than 50% from March 1999, during which month the Major Automotive Group sold 473 used vehicles. In addition, a comparison of the quarterly sales in the first quarter 2000 from the comparable period in 1999 shows an increase to 2,050 from 1,203, an increase of 70%.
    Major Automotive Group's Major World location in Long Island City is one of the leading New York metropolitan region's retailers of pre-owned vehicles.
    Bruce Bendell, Chairman of Fidelity and President of Major Automotive stated: "We cannot help but salute our customers and our staff for the growth of Major Automotive. Working hard to ensure that we continually bring better quality of service is an important reality at Major Automotive, and we are gratified to be rewarded by greater volume of sales nearly every month and quarter."
    James Wallick, Chief Operating Officer of Fidelity, added: "Used vehicle sales, in addition to providing the highest returns of the automotive dealership business, provides a result that serves to enhance the Major World reputation as the place to go for a quality pre-owned vehicle at the right price. As we work to pursue further additions under the Major banner, through a strategy designed to add regional dealerships and additional franchises, we are constantly striving to improve our current Major World base."
    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.

    For additional information, visit our website at www.fdhg.com, www.majorautomotive.com and www.majorworld.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.