Standard Automotive Corporation Announces Its Securities Will be Delisted From the American Stock Exchange

    NEW YORK--May 2, 2002--On April 23, 2002, Standard Automotive Corporation ("Standard Automotive") received notice from the staff (the "Staff") of the American Stock Exchange (the "Exchange"), indicating that Standard Automotive is no longer in compliance with the Exchange's continued listing guidelines, and that its securities are, therefore, being delisted from the Exchange.
    According to the notice, the Staff's determination is based, among other things, on Standard Automotive's commencement of Chapter 11 proceedings on March 19, 2002, as well as on the aggregate market value of Standard Automotive's publicly held shares having fallen below $1,000,000.
    Standard Automotive does not intend to appeal the determination by the Exchange and, therefore, expects its securities to be delisted on or about May 13, 2002.