Breaking News by SOEC Staff — Orange County, California — April 2, 2009 — In an unusual step, SMS Supercars Chairman and CEO, Steve M. Saleen, announced to Saleen Owners and Enthusiasts Club members a new and bold measure today with regards to customer warranties on products produced by his former company, Saleen, Inc.

Recently Saleen Inc. announced it has ceased all operations, claims it has sold certain assets to MJ Acquisitions, Inc., and has even changed its name. In a statement made on March 6, 2009 to all Saleen dealers, MJ Acquisitions announced that while “regrettably, Saleen, Inc. is unable to honor any warranties,” MJ Acquisitions will “not be responsible or obligated to cover warranties and/or financial liabilities of Saleen, Inc.”

“I was saddened about the way the current owners of the proud company I founded, and which held onto my name after my departure two years ago, have now dealt with my loyal and longtime customers,” said Mr. Saleen, who founded Saleen over 25 years ago. Mr. Saleen remained the company’[/SIZE]s CEO until 2006, and left the company completely in the spring of 2007. Since then Mr. Saleen has had no control of, or operational role with, his former company, its operations or its current shareholders, Hancock Park Associates.

“The ones who have been left out in the cold are the loyal customers of Saleen products,” continued Mr. Saleen, “While my new company, SMS Supercars, has no legal or moral obligation to take up any of the warranty claims against Saleen, Inc. or MJ Acquisitions, Inc., I would like to make a bold statement on the right way to treat customers.”

“If any Saleen customer in the United States who purchased a Saleen, Inc. product up until February 2, 2009, has a warranty claim, they can directly contact my new company, SMS Supercars,” continued Mr. Saleen. “We will honor their remaining warranties as if they were SMS Supercars warranties.” SMS Supercars’ warranty terms will apply.

“This unusual step in these uncertain times is a measure to assure that my past and future customers, as well as Saleen and Ford dealers around the United States, continue to have faith in products bearing my name”, said Mr. Saleen, who went on to say, “Customers who have bought a Saleen product in the past will receive the attention and care they and the Saleen products deserve.”

“Despite claims from any other company,” continues Mr. Saleen, “SMS Supercars is the only company that today offers products endorsed by Steve Saleen.”

SMS Supercars, based in Orange County, California, is a manufacturer of high-end lifestyle performance vehicles. As his first new product, Steve Saleen launched the new SMS 570 Challenger in Newport Beach, California, on January 21, 2009. The world premiere of the new SMS 570X Challenger is scheduled for April 9, 2009, at 1.30 p.m. at the New York International Auto Show.

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