The Hydrogen Car Company Launches the Hydrogen Shelby Cobra

LOS ANGELES, June 8 -- -The Hydrogen Car Company Launches the Hydrogen Shelby Cobra

The Hydrogen Car Company (HCC) announces the launch of its flagship vehicle: the Hydrogen Shelby Cobra. Conceived and built by legendary automotive icon, Carroll Shelby, the Shelby Cobra has captivated the imaginations of automobile enthusiasts all over the world since 1962. Operating on a hydrogen internal combustion engine (H2ICE), the Hydrogen Shelby Cobra is the result of a partnership between HCC and Carroll Shelby Licensing, Inc. (CSL), a wholly owned subsidiary of Carroll Shelby International, Inc. (OTC Bulletin Board: CSBI). The first of HCC's vehicles available to the public, the Hydrogen Shelby Cobra runs off clean burning, domestically generated hydrogen fuel and is available for order immediately.

S. David Freeman, HCC's Chairman and clean technology pioneer, states, "We have an historic opportunity to fundamentally change the fuel we use to power our cars. There is a dominant misperception that something is wrong with American cars. It is not the cars that are the problem, but rather the fuel. We do not have to wait decades until hydrogen fuel cell vehicles become viable. The hydrogen internal combustion engine can help us to end our dangerous dependence on fossil fuels today, and it will serve as a bridging technology to the fuel cell."

HCC's vehicles are based not on an experimental technology, but rather on the highly developed, one-hundred-year-old internal combustion engine. The hydrogen internal combustion engine (H2ICE) uses existing, proven technologies to deliver the environmental and fuel security benefits of a hydrogen fuel cell, but at a fraction of the complexity and cost. HCC's H2ICE vehicles have no Carbon (neither CO nor CO2) and super low Nitrous Oxide (NOX) emissions. Furthermore, because the supply of hydrogen is virtually unlimited domestically, employing H2ICEs will contribute to fuel security.

The Hydrogen Shelby Cobra is assembled at Carroll Shelby's engine facility in Gardena, CA. It has the superb power and drivability associated with the Shelby Cobra. These Shelby CSX 4000 Series Hydrogen Cobras come with the option of a Shelby 427 FE V8, 7.8 liter H2ICE or a Ford 351 V8, 5.8 liter H2ICE and either a composite or aluminum body and begin at $149,000.

HCC has been invited to display the Hydrogen Shelby Cobra during the West-coast leg of this summer's Lollapalooza tour, the educational component of which ("The Revolution Solution") will focus on clean technologies and transportation. HCC has committed to the following cities and dates: San Francisco, CA, July 17-18 and Ventura, CA, July 22-23. Following Lollapalooza, HCC will also have a press preview event on July 29 at Carroll Shelby's engine facility in Gardena, CA. HCC expects to make available to consumers a hydrogen version of the Shelby Series 1 as well as a line of H2ICE Ford Trucks and Sport Utility Vehicles (SUVs) in early 2005.

Hydrogen-powered vehicles will utilize an expanding refueling infrastructure that is being developed throughout California and the U.S. In California alone, there are 14 stations and an additional 16 are scheduled to come on line in 2004-2005. Supporting their development, California Governor Schwarzenegger recently signed an Executive Order creating a public-private partnership to realize the "hydrogen highway," which will result in 170 stations being added to the state's major freeways by 2010. Illinois has also announced a "hydrogen highway" plan and other states are poised to follow.

HCC's strategic partner is Stuart Energy Systems Corporation (Toronto: HHO), the world's leading developer and supplier of integrated hydrogen infrastructure solutions, including hydrogen fueling stations, that generate hydrogen fuel from water electrolysis. HCC will offer its customers the option of bundling a H2ICE vehicle with a Stuart Energy Station for fueling. Commenting on the launch of the Hydrogen Shelby Cobra, Jon Slangerup, President and CEO of Stuart Energy, said, "Stuart Energy is excited to team with two legends, Carroll Shelby and David Freeman, in this groundbreaking initiative. We believe the commercialization of H2ICE vehicles will accelerate the demand for our innovative hydrogen infrastructure products." For more information on Stuart Energy, call 905.282.7700 or visit www.stuartenergy.com.

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 the trademark rights for Shelby-branded apparel, accessories, and collectables. For additional information about the company or licensing opportunities, call 310.914.1843, fax 310.914.1853, or visit www.carrollshelbyinternational.com or www.carrollshelby.com.

/Web site: http://www.carrollshelbyinternational.com/

/Web site: http://www.carrollshelby.com /

/Web site: http://www.stuartenergy.com /

/Web site: http://www.shelbyautos.com /

/Web site: http://www.h2carco.com /

Amber Clapp of Hydrogen Car Company, +1-646-567-8114,