|The following announcement was released jointly on February 4, 2005 by Shelby and Superformance. The announcement is reproduced here in its entirety and without editorial comment.|
|CARROLL SHELBY AND SUPERFORMANCE
SETTLE INFRINGEMENT DISPUTE
LOS ANGELES, February 4, 2005
Carroll Shelby ("Shelby") and Superformance International ("Superformance") have settled their remaining differences regarding alleged trademark and trade dress infringements with regard to the Shelby Cobra and Shelby Cobra Daytona Coupe body shapes, and have also agreed to begin working together to advance their mutual objectives of making the highest quality products available to their customers.
"I am pleased that Superformance has recognized the value of being associated with the Shelby entities, and on my part, I recognize Superformance in the replica car business for their quality of design and engineering integrity," said Carroll Shelby, chairman of Carroll Shelby International, Inc.
"There are several ways in which a closer relationship between the Shelby entities and Superformance can create synergy that will benefit both corporations, as well as capitalize on each companies strengths," said Mr. Jim Price, president of Superformance.
"For example, we have in Hi-Tech Automotive, a modern and very capable engineering and manufacturing facility in South Africa," said Price. "This enables the possibility of future manufacturing of components or other products for Shelby Automobiles to Shelby's high specifications. We are very interested in exploring such opportunities, which we feel would be of benefit to both organizations."
In describing the new cooperative relationship between Shelby and Superformance, John Luft, President of Carroll Shelby Licensing, Inc., said, "Carroll Shelby, Shelby Automobiles and its independent dealer network will continue to produce, manufacture and sell the only authentic Shelby Cobra branded products, built to original specifications, inside and out ... but Superformance's products are the only component vehicles licensed with the permission of Mr. Carroll Shelby to replicate the shapes of his famous 289, 427 and Daytona Coupe vehicles, originally manufactured in the 1960's. We are very excited about this new licensing arrangement."
The companies have also put into place the framework whereby the Shelby organization can expand its operations by making authentic Shelby Cobra products available to Superformance's dealer network in the US.
"Mr. Shelby and Mr. Price have confirmed that the foundation of mutual respect and co-operation that has developed will now be the focus of the future efforts of both companies, rather than protracted and expensive litigation," said Mr. Ronnie Kruger, CEO of Superformance International.
About Carroll Shelby International, Inc.
Carroll Shelby International, Inc. is the parent company of Shelby Automobiles and Carroll Shelby Licensing.
Shelby Automobiles Inc. is manufacturing high performance Shelby vehicles under the guidance of the legendary Carroll Shelby and will be involved in prototype manufacturing, design and engineering projects; and plans to increase production and availability of these Shelby products through an expanded dealer network and direct sales under a license agreement with Carroll Shelby Licensing Inc. For more information, call 702/325-4851 or visit the company's web site at http://www.shelbyautos.com/.
Carroll Shelby Licensing Inc., founded in 1988, is the exclusive holder of automotive manufacturer and entrepreneur Carroll Shelby's trademarks and vehicle design rights, which include some of the world's most famous muscle cars and high-performance vehicles, including the car that brought home to the U.S. its first and only FIA World Manufacturers Championship in 1965, the famous Shelby Cobra Daytona Coupe. It also holds trademark rights for Shelby-branded apparel, accessories and collectibles. For additional information about the company or licensing opportunities, call (310) 914-1843, or fax (310) 914-1853 or write to Carroll Shelby Licensing, Inc., 11150 West Olympic Boulevard, Suite 1050, Los Angeles, CA 90064 or visit http://www.carrollshelbyinternational.com/, http://www.carrollshelby.com/.
Superformance International Inc, founded in 1996, is a wholly-owned subsidiary of Hi-Tech Automotive (Pty) Ltd, and sole North American distributor of the Superformance (R) range of component vehicles, parts and accessories manufactured by Hi-Tech Automotive in South Africa.
Superformance distributes its products through eleven retail dealer outlets in the US and Canada.
The Superformance Mk III and Superformance Coupe is already established as the most sought after replica component vehicles in their class in the US.