With Redefined Vision, Mission and Operating Objectives,
Saleen Is Revved Up and Supercharging Into the Future

IRVINE, Calif., Aug. 18, 2004 – For Saleen, Inc. the past year has been one of achievement, challenges and change, including the successful launch of the Ford GT at Saleen Specialty Vehicles in Troy, Michigan, and the implementation of structural changes,
which have improved operating effectiveness throughout the company.

The coming months will be equally challenging as the company prepares to launch the 2005 N20 Focus, S281 and S7 in Irvine and ramp up production of the GT in Troy.

With Saleen’s vision, mission and operating objectives freshly redefined, Steve Saleen announced the following management team appointments, which become effective
immediately:

Richard Rinke will assume the role of Chief Operating Officer, responsible for leadership of Saleen’s operations in Troy, Michigan, and Irvine, California. Saleen’s Irvine
operation will continue to serve as corporate headquarters.

For the past two years, Rinke has worked to establish Saleen Troy and guide the organization toward the launch and production of the Ford GT. In his new role, he will divide time between Troy and Irvine, working closely with members of the management team to implement the vision and mission and will lead efforts to transfer knowledge and practices, which have proven successful at Troy. The goal is to achieve a high level of competence in the way we operate at both locations. Rinke will report to Steve Saleen.

Joe Tori, who for the past 7 months has served as General Manager of Saleen’s Irvine operation, will assume the position of General Manager of Saleen Troy. In this expanded role, Tori will be responsible for leading operations initiatives as well as managing the company’s commercial relationship with Ford. In the near term, the company will leverage Tori’s planning experience to document and communicate the tasks and deliverables necessary for success in 2005. Tori will move to Detroit and report to Rinke.

Brian Walsh, who joined the company in May and has been involved in operations initiatives, will replace Tori as General Manager of Saleen’s Irvine operations. Walsh brings an impressive background in finance, operations and general management and will be responsible for management of all operations in Irvine, with the exception of Sales, Marketing and Finance. Walsh will also report to Rinke.

Keith Pollan will assume the role of Corporate Controller, reporting to Steve Saleen and interacting heavily with Rinke. Dave Anderson, Troy’s Controller, will report to Pollan.

With these appointments, the company is positioned to perform on its Saleenbranded and OEM product initiatives, while leveraging the capabilities of both operations and the strengths of each member of the management team.

About Saleen
Since the company’s inception in 1984, Saleen has produced nearly 9,000 complete and EPA certified vehicles, more than any other specialty manufacturer. In addition, Saleen has equipped more than 500,000 vehicles worldwide with Saleen products to improve a vehicle’s ability to stop, go, slice-through-the-wind and turn—both corners and heads.

An eight-time Manufacturers’ Champion in GT sports car racing, Saleen’s corporate facilities include research, design, engineering and manufacturing capabilities. Saleen has also opened new manufacturing facilities in Troy, Michigan and in Canada. The company’s line of products and services includes the Saleen S281, S281 Supercharged and S281-E, the Saleen S7 supercar, Saleen N2O Focus, Saleen Competition, Saleen Performance Parts, and Saleen Engineering and Certification Service. Contact Saleen at 949-597-4900 or for more information about Saleen – its people and products – visit the web site at www.Saleen.com.