Continental Teves, Piston Automotive Form Brake System Joint Venture

-- Part of Planned $10 Million Investment in Southwest Detroit Operations --

    DETROIT, May 24 Detroit Mayor Dennis Archer, Piston
Automotive CEO Vinnie Johnson and Continental Teves N.A. President William
Kozyra jointly announced today the formation of Piston Modules LLC, a joint
venture of the two firms to assemble and sequence vehicle modules.

    The joint venture -- Piston Modules -- will occupy a 30,000 square foot
area of Piston Automotive's Michigan Avenue facility.  The joint venture
represents a $10 million facility expansion, including equipment and training.
The joint venture, a mentored supplier of General Motors Corporation, will
assemble brake corner modules for several GM luxury car lines and new product
models.  Piston Modules is actively pursuing business from other North
American OEMs.

    Piston Modules LLC will be 51 percent owned by Piston Automotive and
49 percent owned by Continental Teves N.A.  The joint venture will initially
create approximately 100 high-skill manufacturing jobs, more than doubling
employment at the Michigan Avenue location within the next year. Construction
on the new Piston Modules facility is underway and is scheduled to be
completed in the Fall.  Piston Modules has secured contracts totaling
approximately $200 million.

    "Establishing this joint venture underscores our commitment to providing
our OEM customers with advanced brake corner module systems while supporting
their stated minority sourcing goals," said William Kozyra, president of
Continental Teves North America.  "In Piston Automotive, we have the ideal
partner for this effort.  We look forward to growing our chassis systems
business together."

    "Piston Modules represents another significant milestone in the growth of
Piston Automotive as we expand our presence in Detroit and the auto industry,"
said Vinnie Johnson, chairman and CEO of Piston Automotive.  "We're excited
about our partnership with Continental Teves and the new job opportunities it
will bring to the city."

    "The creation of the venture between Continental Teves and Piston
Automotive in the Detroit Empowerment Zone is a win-win situation for the
joint venture partners, their customers and Detroit's skilled automotive
workforce," said Detroit Mayor Dennis W. Archer.  "I am pleased at the
commitment these two companies have made to our city and for their creation of
new jobs for Detroiters."

    Brake corner modules are preassembled brake systems that offer OEMs
simplified logistics and potential cost savings compared to traditional brake
systems.  Brake corner modules integrate multiple components for additional
cost, weight and quality improvements.  Complete corners consisting of
steering knuckle, wheel bearing, wheel hub, brake disc and caliper, ABS-
sensor, wiring and covers can be installed as a single unit directly on the
axle.

    Former Detroit Piston Vinnie Johnson launched Piston Automotive LLC,
headquartered in Detroit, in 1996.  The company provides a number of assembly
and sequencing services to the automotive industry and is a member of the
Michigan Minority Business Development Council.