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                             [McM Corp. Letterhead]






        RALEIGH, NORTH CAROLINA, APRIL 1, 1999 -- FOR IMMEDIATE RELEASE

                            McM Odd Lot Tender Offer

     McM Corporation, a Raleigh based insurance holding company ("McM"), 
announced that it has offered to purchase the issued and outstanding shares of 
its common stock from its 333 "odd lot" shareholders of record, each of whom 
owns less than 100 shares of stock. The odd lot tender offer is at a cash price 
of $3.65 per share. The odd lot shareholders own less than one percent of McM's 
outstanding common stock.

     McM Corporation was previously listed on the NASDAQ SmallCap Market under 
the trading symbol MCMC. McM was delisted as a result of the successful 
completion on October 1, 1998, of a tender offer for the Company's public 
shares. This tender offer resulted in McM's no longer meeting the requirements 
for continued listing on the NASDAQ SmallCap Market.

     Currently, there is no active public market for McM's common shares.


COMPANY CONTACT:

George E. King
McM Corporation
(919) 833-1600