MPA Updates Status of Government Investigation

    TORRANCE, Calif.--May 3, 2002--Motorcar Parts & Accessories, Inc. (Internet billboard:MPAA) noted that, as previously disclosed, the SEC has been conducting an investigation into the Company and its accounting practices during the period from 1997 through 1999. The Company settled a class action lawsuit that alleged that the financial statements prepared during this period were materially misleading. The Company currently believes that the U.S. Attorney's Office for the Central District of California is conducting a similar investigation. The Company has cooperated with the SEC and the U.S. Attorney's Office.
    The Company is a leading remanufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The Company's full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, England, France, Italy and Korea and, more recently, for domestic vehicles.