GREASE MONKEY &lt;GMHC> GETS, REJECTS MERGER OFFER

  Grease Monkey Holding Corp said it has
  received and rejected an unsolicited merger offer from Jiffy
  Lube International Inc &lt;LUBE>.
      The company said the proposal involved an exchange of
  Grease Monkey common stock for a combination of Jiffy Lube
  securities with an estimated current value substantially below
  Grease Monkey's current market
   price.
      It said it will not disclosed details.
  

