Timothy S. Durham Invests in Car Collector Magazine

INDIANAPOLIS, Jan. 25, 2005 -- Timothy S. Durham, Chairman and CEO of Obsidian Enterprises, Inc., has invested in Car Collector magazine.

Car Collector magazine, a leading automotive authority in the collector car industry for over a quarter of a century, has joined with Mr. Durham to launch a new expanded publications group. "This is an exciting opportunity," says Jeffrey W. Broadus, Car Collector magazine's Publisher and Chief Executive of Car Collector LLC.

"I try to find ways to tie my personal interests into a business setting, and one of my greatest passions is the collection of classic cars," said Durham. "I've had an ongoing relationship with Car Collector over the years through one of my other investments, Speedster Motorcars. I know the quality of the publication that is issued each month so it was a perfect fit for me."

Durham will also sit on the Car Collector LLC board of directors. "Tim is an enthusiastic and experienced car collector," notes Broadus. "He understands the hobby and the interests of our core market, while at the same time bringing the broad experience of a professional manager and investor to the company."

Durham's automobile collection currently stands at over 45 collector cars and growing. The collection includes a 1930 Model J Duesenberg Transformable Cabriolet bodied in France by Hibbard and Darrin for millionaire publisher William Randolph Hearst and film star Marion Davies; a fully restored Tucker, perhaps the best in the world; a 1929 Duesenberg with a LeBaron Convertible Berline body built on the first 153-1/2 inch long wheelbase chassis; many Auburns, including a 1929, and a 1935 Model 851 Boattail Speedster; and assorted Packards, Jaguars and other collectible automobiles.

Car Collector magazine covers all aspects of the collector car hobby, including antique and brass era cars, classics, postwar American and European cars, muscle cars, celebrity collections, future collector cars and value guide information on featured marques. Related fields such as the economics of car collecting, restoration, event and auction highlights are covered monthly by a seasoned staff of automotive authorities led by award-winning author and Editor-in-Chief Dennis Adler. In addition, Car Collector's custom publishing division now publishes show programs for most of America's foremost Concours d'Elegance along with its recently-announced Web-delivered collector car auction reports, Car Collector's Market Journal.

Obsidian Enterprises, Inc. is a publicly traded holding company headquartered in Indianapolis, Indiana that invests in small and mid cap companies in basic industries such as manufacturing and transportation. Car Collector LLC is based in Titusville, Florida. Its primary business is publishing Car Collector magazine and custom publishing event programs and club magazines. Car Collector magazine is published monthly and available by subscription as well as on select newsstands.

Additional information on Timothy S. Durham, Obsidian Enterprises or its companies, can be found online at http://www.obsidianenterprises.com/ .