Kingsley Coach Reports the Resignation of its CEO

    MIDDLEBURG, Pa.--Feb. 23, 2001--The Kingsley Coach, Inc. (OTCBB:KNGS) announced today the resignation of its Chief Executive Officer, Terry A. Watkins.
    Mr. Watkins informed the Company that he will exercise the option in his Employment Agreement that permits him to leave the Company on his one-year anniversary, March 1, 2001, without incurring any penalty. He is leaving the Company in order to pursue other interests; however, he will be retained by the Company as a financial consultant to assist the Company in various areas. Mr. Watkins expressed his sincere regret at leaving Kingsley, saying, "I have never been associated with a company that possessed a product with the nearly unlimited potential as the Kingsley Coach. I cannot explain the joy I felt this last year working with the creative entrepreneurs who founded and manage Kingsley, and I am glad to continue my involvement with Kingsley as a consultant. I am quite proud of what we achieved this past year; but it is time for me to seek after elusive dreams from which I have too long shied away." Mr. Watkins did not elaborate on his future plans except to say that they are too personal to share at this time.
    Ralph Dickenson, who will temporarily assume the role of CEO, poignantly expressed his ambivalent feelings about the departure of Mr. Watkins, saying, "Terry is not just a co-worker; he is a friend. I wish him all the success, but I will miss him both personally and professionally. He has been honorable in all of his dealings while at Kingsley, including the way he is leaving. I am ecstatic that he will continue to be involved; his creativity is not replaceable, and having him as a consultant will let the Company maintain that intangible asset." Mr. Dickenson made it clear that the Company is currently seeking a new CEO, and that he expects the search to go well. "We have a number of excellent candidates whom we are looking at, and Mr. Watkins will be involved in this process. Thankfully, the Company's present operational position allows us to take our time and be very selective." Summing it all up, Mr. Dickenson said, "Terry was always Kingsley's biggest cheerleader when it came to talking about Kingsley's exciting market potential. Because of the year he was here, Kingsley is in a better position to take advantage of that potential. Everyone here, and I include Terry in this thought, remains extremely upbeat about Kingsley's future." Kingsley Coach is a manufacturer of a unique, high quality, motorcoach on a heavy duty truck chassis. The unique design of the Kingsley Coach, with the engine in front, provides for several advantages over traditional rear engine units, including safety, durability, flexibility, and ease of service. The Kingsley product line is designed for both recreational and commercial use and is produced in conjunction with a manufacturing alliance at the Thor America plant in Middleburg, Pa. with Thor America, Inc., a Thor Industries company, one of the largest RV manufacturers in the USA.