Two Time Indy 500 Winner Joins American Electric Automobile Company Inc.

28 April 2000

Two Time Indy 500 Winner Joins American Electric Automobile Company Inc.

    SAN DIEGO--April 27, 2000--American Electric Automobile Company Inc. (NQB Non-OTC:AEAC), successful developers and manufacturers of Electric Vehicles, zero emission and super low emission vehicles Thursday announced that two-time Indianapolis 500 winner Rodger Ward has joined the company.
    Ward, often referred to as the Ambassador of Racing, started his professional racing career shortly after World War II while still in the United States Air Corps as a pilot. Ward's first major win was the San Diego Grand Prix in 1947 at Old Balboa Stadium.
    In 1950, Ward was hired by Vic Edelbrock to drive the famous V-8 60 powered Number 27.
    Concentrating his efforts in Indy cars and stock cars, Ward won his first major title in 1951 when he won the AAA National Stock Car Championship. In 1959 and 1964, Ward won the famous Indianapolis 500. Few professional race car drivers in the history of the sport have compiled a record to match that of Ward. He won 26 National Championship races.
    Ward is President of the Classic Auto Racing Society, one of the most respected automobile racing organizations in the country. He is also currently used by Sports Illustrated and other organizations as a racing analyst.
    American Electric Automobile Company's electric vehicles are designed using standard automobile bodies with fully functioning air conditioning, heating and a custom designed electric power and drive train. Off-the shelf electric motors are used in combination with a custom proprietary computerized electric drive. These well-equipped automobiles are economically priced in the $17,000 to $22,000 range.
    Last month, the company has filed a Form 10 SB, to conform to rules of eligibility related to the Over-The-Counter Bulletin Board Quotation System.

    Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995. This announcement contains "forward-looking statements. The words "anticipate," "look forward to," "believe," "will be," "estimate," "projected," "expected to," and other similar expressions as they relate to the company & its management are intended to identify such forward looking statements. Although the company & its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein include those mentioned in the company's submissions to regulatory agencies.