Carroll Shelby Teams With Ford to Introduce Ford Shelby GT500 Concept at New York Auto Show

Concept Is First Shelby-Branded Ford Mustang to Appear in 35 Years

LOS ANGELES, March 24 -- Carroll Shelby International, Inc. , announced today that Carroll Shelby, its Chairman and Chief Executive Officer, and Ford Motor Company, under license with Carroll Shelby Licensing, Inc., have teamed up to create the first Shelby-branded Mustang in 35 years -- the Ford SVT Shelby GT500 Concept. Unveiled today at the Greater New York Auto Show, this unmistakably Shelby-inspired performance powerhouse recreates the iconic image and legendary dominance of the original Shelby Mustangs of the 1960s.

"We're excited to see history repeat itself with the introduction of the new Shelby GT500 Concept," says John Luft, President of Carroll Shelby Licensing. "This car will put a new generation of Shelby enthusiasts on the road."

Powered by a 5.4-liter, 32-valve Ford V8 equipped with a Roots-type supercharger, the Shelby GT500 Concept delivers more than 450 horsepower and 450 lb ft of torque, making it the most powerful production Mustang ever produced. Equipped with a heavy-duty T-56 6-speed manual gearbox to put all of that power to the pavement, and revised shocks, springs and upgraded stabilizer bars front and rear to maximize road-holding and control, the Shelby GT500 Concept combines the performance, handling and on-road excitement of its storied predecessor.

"I've worked closely with Ford and its Special Vehicle Team (SVT) to reshape the modern muscle car landscape with what I'd have to call the Ultimate Mustang," says Carroll Shelby. "We wanted to create a world-class performance concept, true to the spirit of my original GT500, with an acclaimed chassis engineered to handle all the horsepower we could find. I think you'll agree we hit the target."

Outfitted in trademark "SVT Red" with dual Le Mans-style white racing stripes running nose to tail, the Shelby GT500 Concept is dominated by an impressive functional hood scoop, front and rear underbody aerodynamic treatments, including a reworked front fascia with functional air splitter and a rear spoiler reminiscent of a classic GT500. Revised headlight insets provide an aggressive look and symmetrical upper and lower grilles deliver that vintage Shelby design cue. Substantial 19-inch wheels and tires surrounding race-inspired cross-drilled Brembo brakes complete the package.

Inside, it's a purposeful, driver-focused cockpit, with luxurious black leather wrapping the interior from dash to stern, accented with red leather seat and door accents, logo-embroidered seatbacks, floormats and signature white performance gauges.

Expected to retail for around $40,000 when the production version goes on sale in 2006, the Ford Shelby GT500 is poised to launch a new era of sporty performance punctuated by Ford muscle and Carroll Shelby's legendary engineering prowess.

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 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 www.carrollshelbyinternational.com or www.carrollshelby.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.