DCAP Group, Inc. Warrants Expire; Nasdaq Listing Application Submitted

Business Wire, June 14, 2004

Business Editors

HEWLETT, N.Y.--(BUSINESS WIRE)--June 14, 2004

DCAP Group, Inc. (OTCBB: DCAP.OB), the largest chain of storefront insurance agencies in the Northeast, announced today that the warrants from its 1999 private placement have expired. The warrants had provided for the right to purchase up to a total of approximately 2.7 million shares of common stock (approximately 22% of DCAP's outstanding shares). Prior to expiration, approximately 209,000 shares were purchased pursuant to the exercise of such warrants.

DCAP also announced that it has filed an application to list its common stock on the Nasdaq SmallCap Market. While no assurance can be given as to approval of the application, DCAP is hopeful that an approval will be forthcoming. Prior to Nasdaq approval, the DCAP Board will need to approve a reverse stock split so as to achieve a minimum stock price of $4.00 per share, which is a prerequisite for Nasdaq small cap listing.

On May 13, 2004, DCAP reported its results of operations for the period ended March 31, 2004, its eighth consecutive quarter of profitability. The growth trend reverses losses sustained by the Company prior to 2001 when present management led by Barry B. Goldstein, President, Chairman of the Board and CEO, took control of the company.

About DCAP Group:

DCAP Group, Inc. is the largest chain of independent storefront insurance agencies in the Northeast. DCAP is focused on building the business into a community-based, vertically integrated one-stop financial services center. The Company offers several services to its retail customers at the most competitive rates with a complete portfolio of insurance and related products and services, including premium financing. DCAP currently provides car, motorcycle, homeowner, business and life insurance products from a number of major carriers. The Company also offers tax return preparation services. The Company's storefront agencies are located throughout the New York City metropolitan area and upstate New York as well as in New Jersey and Pennsylvania. More information is available at the Company's website at www.dcapgroup.com.

Forward Looking Statements: Statements in this press release, other than purely historical information, including those contained in the comments above by Barry B. Goldstein and the comments regarding the Company's future plans and objectives and expected operating results, and statements of the assumptions underlying such statements, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained herein are based on certain assumptions that may not be correct. They are subject to all of the risks and uncertainties incident to the Company's business that are described in the reports and statements filed by the Company with the Securities and Exchange Commission, including (among others) those listed in the Company's Form 10-KSB.