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Fidelity Holdings Reports Adjusted Nine-month Results

23 November 2000

Fidelity Holdings Reports Adjusted Nine-month Results

    KEW GARDENS, N.Y.--Nov. 22, 2000--Fidelity Holdings, Inc. (Nasdaq NM: FDHG - news) announced today that its previously reported results for the nine months ended September 30, 2000 understated the loss for such period by $4,060,000, primarily one-time, non-cash charges attributable to its recently announced discontinued operations. The Company reports that the loss for such nine-month period is $14,986,210 and the loss for the quarter ended September 30, 2000 is $15,468,829. The Company is working with its independent accountants to amend its Form 10-Q for the period ended September 30, 2000, as soon as practicable.