New Generation Holdings' Subsidiary, Minerva Softcare Signs Value-added Reseller Agreement With InCase Consulting.

Business/Technology Editors

NEW YORK--(BUSINESS WIRE)--March 11, 2002

Minerva Softcare also inks deal with Lansforsakringar AB of Sweden

New Generation Holdings, Inc. (OTC BB: NGPX) announced today that its wholly owned subsidiary, Minerva Softcare N.V. has signed an agreement to appoint InCase Consulting ApS, based in Denmark, as the sole reseller of Minerva software products in Scandinavia.

This agreement will enable the companies to offer clients the latest e-business oriented infrastructure solutions, including the integration of web applications with back-end legacy systems. According to Eduard van Raay, Chief Operating Officer of New Generation Holdings, the deal with InCase is expected to add about US$ 2 million to Minerva sales yearly in the Nordic region alone. Mr. Van Raay also noted: "Minerva Softcare sales were approximately US$ 4 million in 2001 and the company is pursuing an aggressive sales plan for 2002, largely in function of its successful new change tool, Minerva Change which works well with the deployment of IBM's WebSphere(R) platform."

"This transaction marks a pivotal step in expanding Minerva's sales channels in Europe," said Mr. Rene De Vleeschauwer, Chief Executive Officer of Minerva Softcare. "We are actively seeking more such opportunities around the globe. With InCase in particular, a firm with an excellent reputation in the important Scandinavian IT market, we are anticipating a multitude of synergies in the domain of Change Management," Mr. De Vleeschauwer continued.

"Success in today's software industry is increasingly dependent on the ability to give clients tailor-made solutions with insightful IT advice and the right software products," commented Jan Pedersen, Managing Director of InCase. "The deal with Minerva will enable InCase to add Minerva's quality products to its tool box and complement its solution based services to its IT customers while at the same time providing additional avenues for growth."

New Generation Holdings also announced today that Minerva Softcare N.V. has signed a multiple year contract for its Minerva Change software with Swedish financial group, Lansforsakringar AB ("LF"), which will yield an estimated US$ 0.5 million in 2002 and a further US$ 0.5 million over the next four years.

LF selected Minerva Change, a web based change management tool, to enable its IT department to develop new mainframe applications on personal computers while at the same time controlling the life cycle application management process. The deployment component of Minerva Change also offered LF a seamless integration tool for its outsourced mainframe operations, thereby keeping mainframe interactions and related third party costs to a minimum.

Said, Mr. De Vleeschauwer, "We are very pleased to add Lansforsakringar AB to our expanding client list. This deal demonstrates that customers believe our products can add significant value to their IT investments."

About New Generation Holdings, Inc. (www.ngpx.com)

New Generation Holdings, Inc. with offices in New York and Geneva is a platform for the formation of shareholder value through the acquisition and development of new technologies and businesses. In addition to Minerva Softcare N.V., New Generation Holdings, Inc. owns New Generation Plastic, Inc., the proprietor of a one-of-kind, patented plastic blending technology with applications in the virgin and recycled plastics markets.

About Minerva Softcare N.V. (www.minervasoftcare.com)

Minerva Softcare N.V. is an infrastructure software development company based in Belgium. Minerva specializes in developing and selling data transformation, lifecycle change management and modeling software for use in large IT departments. The company has an expanding blue chip client list comprising major banks, insurance companies, and industrial entities in Europe.

About InCase Consulting ApS (www.incase.com)

InCase Consulting ApS, based in Denmark, specializes in providing high valued-added IT solutions to leading enterprises. Its mission is to create competitive advantage for it clients by integrating their legacy system infrastructures with state-of-the-art component architectures in the

e-business arena. In 2001, the company was named one of the best managed Danish companies according to Computerworld's IT magazine. It has offices in Denmark, UK, Australia and the US.

About Lansforsakringar AB (www.lansforsakringar.com)

The LF group based in Stockholm, consists of 24 independent regional insurance companies and the jointly owned LF AB. It is Sweden's only customer-owned locally established banking and insurance group. It is a leader in the Swedish market for non-life insurance.

This press release contains forward-looking statements. The company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements, including any sales forecasts, and may be adversely affected by, among other things, risks associated with new technology development and commercialization, the company's overall business strategy and other factors described in the company's filings with the Securities and Exchange Commission.