FOR IMMEDIATE  RELEASE                    NEWS    
March 26, 1999                            OTC-GMHC 
                                          



            GREASE MONKEY HOLDING CORPORATION SIGNS MERGER AGREEMENT

DENVER, Colorado -- Grease Monkey Holding Corporation (OTC - GMHC), announced 
today that it signed a definitive merger agreement to be acquired by QL 3000, 
Inc., a privately held company based in Jacksonville, Florida. The merger 
agreement provides that each shareholder of Grease Monkey will receive $1.00 
for each share of Grease Monkey common stock. Holders of Grease Monkey 
preferred stock will receive the stated value of their preferred stock plus 
all accrued and unpaid dividends.

QL 3000 must complete debt and equity financing to fund the merger 
consideration. Grease Monkey may terminate the Merger Agreement if QL 3000 
has not received a commitment letter for the debt financing by May 25, 1999. 
In addition, completion of the merger is subject to regulatory and 
shareholder approvals and certain other conditions. There can be no assurance 
that such financing or approvals will be obtained.

Grease Monkey Holding Corporation is a Denver-based company that owns, 
operates, leases, manages, and franchises automotive fast service lubrication 
and oil change centers under the trade name, "Grease Monkey."

Statements contained in this press release that are not historical facts are 
forward-looking statements as that term is defined in the Private Securities 
Litigation Reform Act of 1995. Such forward-looking statements are subject to 
risks and uncertainties, which would cause actual results to differ 
materially from estimated results. Such risks and uncertainties are detailed 
in Grease Monkey's filings with the Securities and Exchange Commission.

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CONTACT:
James Wallace, Chairman
303/295-0565