Exhibit 99.1 - Press Release dated January 29, 1997. FOR IMMEDIATE RELEASE CONTACT: Dick Kosmicki The Dilenschneider Group 212-922-0900 ECKLER INDUSTRIES SIGNS DEFINITIVE MERGER AGREEMENT WITH SMART CHOICE HOLDINGS, INC. TITUSVILLE, FL., January 29, 1997 - Eckler Industries, Inc. (NASDAQ:ECKL) of Titusville, FL. Announced today that it has completed the merger with Smart Choice Holdings, Inc., of Windermere, FL. Eckler has issued approximately 6.5 million shares of its common stock (such number of shares being subject to certain post closing adjustments) in exchange for all of the common stock of Smart Choice. Eckler is one of the first publicly held companies in the automobile dealership business. (more) The merger will result in Eckler's name being changed to Smart Choice Holdings, Inc. The new public company, will be headquartered in Titusville, FL. The new public company will be reorganized into a holding company that will encompass four divisions: Corvette Parts and accessories, new car sales, used car sales and insurance and auto finance. Laidlaw Equities, a New York-based investment banking firm representing Eckler, has provided its opinion stating that the merger is fair to the Eckler shareholders, from a financial point-of-view. "Based upon the fairness opinion of Laidlaw, we believe we are providing our shareholders a significant opportunity to increase the value of our company," said Ralph Eckler, president of Eckler (more) Industries. He added, "We are all very excited to be part Gary R. Smith, Smart Choice's new president said: "The closing of the merger has positioned Smart Choice to become a significant competitor in the used and new car business in Florida." "The automobile business," Mr. Smith added, "one of America's largest industries, is undergoing significant changes, and with the advent of public ownership of automobile dealerships, a major consolidation is underway. There have been several recent public offerings of automobile dealership groups that have received widespread acceptance by the financial community and Smart Choice is poised to take advantage of this consolidation opportunity with its acquisition strategies." (more) Smart Choice believes that it is the largest operator of "Buy Here, Pay Here" used car dealerships in Florida. Smart Choice is a fully integrated automobile sales, service, leasing, financing, and insurer of new and used automobiles. The company intends to continue to acquire new and used dealerships in Florida and throughout the Southeast U.S. Eckler Industries is a leading supplier of Corvette parts and accessories with over 95,000 customers. ###