Excelsior-Henderson Sends Shipment of First Revenue 1999 Super X
2 February 1999Excelsior-Henderson Motorcycle Manufacturing Company Announces Shipment of First Revenue 1999 Super X Motorcycle
BELLE PLAINE, Minn., Feb. 1 -- Excelsior-Henderson Motorcycle Manufacturing Company today announced that on Saturday, January 30, 1999, it shipped the first revenue 1999 Super X(TM) motorcycle to one of the dealers in the Excelsior-Henderson national dealer network. Production and shipment of the Super X will now ramp-up slowly during the remainder of the first quarter of 1999. A portion of the initial production bikes will be designated for the Excelsior-Henderson Demo Team and marketing events, such as the World of Wheels Show in St. Paul on February 12-14, 1999, and Daytona Bike Week on February 27 - March 7, 1999. The Excelsior-Henderson Road Crew Demo Team will conduct demonstration rides for visiting bikers during Daytona Bike Week. Dealer shipments will accelerate during March 1999 and the second quarter of 1999. "It was truly exciting to see the first Super X complete final quality testing, crated in the Excelsior-Henderson branded shipping crates and placed on the truck for delivery to one of our nationally recognized Excelsior-Henderson dealers," stated the Co-Founders, Dan, Dave and Jennie Hanlon. "We now look forward to publicly showing the new 1999 Super X at the World of Wheels Show in St. Paul and Daytona Bike Week," added the Hanlons. Excelsior-Henderson Motorcycle Manufacturing plans to manufacture, market and sell premium heavyweight American cruisers and touring motorcycles, as well as related parts, apparel and accessories branded with a name that evokes an authentic American motorcycling heritage and lifestyle. The Company will distribute its products through a high quality, nationally recognized dealer network. Excelsior-Henderson is one of only two authentic American motorcycle companies exclusively committed to the manufacture of motorcycles. Notes Concerning Forward Looking Statements: This press release contains forward-looking statements regarding the plan of the company to produce and sell 1999 Super X motorcycles that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below and the factors described from time to time in the Company's reports on file with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the fiscal year ended January 3, 1998 and the Company's Quarterly Reports on Form 10-Q for the quarters ended April 4, July 4, and October 3, 1998. Factors that may affect the timing of production of the Super X include the ability of the Company to maintain competent suppliers and obtain adequate quantities of components and supplies at reasonable costs, the ability of the Company to obtain working capital financing as needed, the ability of the Company to hire additional qualified personnel and the ability of the Company's engineering and manufacturing staff to design, engineer and produce the Super X in significant production quantities. In addition, for the Company to be successful, its products must be manufactured to meet high quality standards in production volumes. The transition from prototype to mass production will involve various risks and uncertainties that may not be apparent at this time and there can be no assurance that the Company will be able to successfully react to unanticipated difficulties and increase production as anticipated. In addition, the Company will be required to maintain certain government approvals and certifications in connection with the sales of the Super X. Potential delays and costs that could result from failure to maintain such approvals could result in a delay in motorcycle production.