GMC Holding Corp. Announces Audit Team, Patent Status & Share Structure Update to Shareholders

ORLANDO, Fla., Aug. 2 /PRNewswire-FirstCall/ -- GMC Holding Corp. (OTC Pink Sheets: GMCC) ( http://www.gmcholdings.com/ ) announced today that it has engaged Tedder, James, Worden & Associates, P.A. of Orlando to complete its audits and reviews to facilitate compliance for application to one of the national exchanges. In addition, a prominent New York legal firm will shortly complete multiple patent filings of the company's "REMAT(TM)" technology. Also, as of July 31, 2005, the company's share structure is as follows:

  Authorized Shares = 100,000,000
  Outstanding Shares = 47,600,000
  Restricted Shares = 39,100,000
  Public Float = 8,500,000

"We are dedicated to providing shareholders necessary information for making stock purchasing decisions. We intend to use all available resources to provide long-term growth and profitability for our shareholders. This is important to meet the company's immediate goal in becoming fully reporting and moving to a national exchange," stated GMC Holding Corp. president Bruce McKenzie.

GMCC realizes that its REMAT(TM) technology is revolutionary. Our stockholders must be aware that the only reliable source of information regarding GMC Holding Corp. and our technology is from official press releases or directly from the company.

About GMCC:

GMC Holding Corp. is a public entity that currently serves as a vehicle to effect an asset acquisition, merger, exchange of capital stock, or other business ventures with domestic or foreign business. GMC Holding Corp. is in negotiations with several key companies as possible acquisition candidates. REMAT(TM) is the company's flagship trademark.

About REMAT(TM):

REMAT(TM) is the company's high efficiency electromagnetic pulse motor- generator, based upon the Company's proprietary technology. REMAT(TM) is the acronym for RARE EARTH MAGNETIC AMPLIFICATION TECHNOLOGY.

The potential value of the Company's technological achievement is enormous. The REMAT(TM) system can be built to any size and output range, with obvious applications wherever motors are used. More importantly, larger generators utilizing the Company's REMAT(TM) system will be able to power individual homes, businesses, vehicles, etc. REMAT(TM) will contribute much needed energy to power the grids of the United States and eventually the world at a cost and efficiency heretofore not seen. GMC's aim is to utilize the REMAT(TM) system to minimize the world's reliance upon nuclear and fossil fuels for the production of energy.

The REMAT(TM) system contains proprietary circuitry that captures a significant amount of back EMF (electromagnetic flux) that is produced during the motor's operation. By harnessing this otherwise wasted energy, the captured EMF is reintroduced back into the system thereby providing sufficient power to operate the motor. GMC believes this to be a novel application of proprietary circuitry that is a first in electric motor design.

Safe Harbor

Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties, and the company's actual results may differ from these forward- looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.

Contact: Bruce McKenzie, President of GMC Holding Corp., at 1-407-834-9400