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Press Release for Arrow Automotive Industries, Inc.

26 October 1998

Press Release for Arrow Automotive Industries, Inc.

    CONWAY, Ark.--Oct. 23, 1998--Arrow Automotive Industries, Inc. (ASC:AI) announced today that its negotiations with Motorcar Parts and Accessories, Inc., Torrance, California relating to the previously announced proposed acquisition by Motorcar of its electrical parts, clutch and crankshaft remanufacturing divisions have terminated.
    "Arrow intends to continue to remanufacture, sell and service these products," stated Jim L. Osment, Arrow's President and Chief Executive Officer.
    Arrow remanufactures a variety of replacement parts for domestic and imported vehicles for distribution throughout the United States and Canada.

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