Too Gourmet, Inc. Executes Letter of Intent With German Automotive Technology Company

    IRVINE, Calif.--Nov. 19, 2002--Too Gourmet, Inc. (OTCBB:TGOU) is pleased to announce that it has entered into a non-binding Letter of Intent to acquire up to 100% of the outstanding common stock of a German automotive technology and services provider, subject to due diligence review, negotiations and drafting of the definitive agreement which would include representations and warranties standard for transactions of this nature and magnitude. Terms of the proposed transaction have not been disclosed.
    The merger candidate was incorporated in 1989 and develops innovative hardware and software applications for the automotive industry. Its offices are located in Germany and in the United States. Its services, hardware and software solutions applications specialize in two core areas: sophisticated exhaust emission measurement systems and software technologies systems for test-stand automation and related workflow management solutions. The merger candidate generates profitable sales directly through its corporate offices and indirectly though distributors located in over ten countries. Its total annual revenues for its last fiscal year were approximately 10.7 million Euro.
    With a vehicle park and economy comparable in size to the United States, the European Union (EU) generates significant demand for automotive aftermarket parts, accessories and services. The ongoing political, economic and technological harmonization of the EU is uncovering new opportunities for companies looking to profit from the region's automotive aftermarket industry.
    According to the Automotive Aftermarket Industry Association (AAIA), the size of the motor vehicle aftermarket in the United States grew by 3.5% in 2001 to $255.2 billion, with the automotive segment recording the largest growth, at a 4.8% increase to $178.8 billion. Sales are forecast to expand to more than $185.8 billion by the end of 2002.

    The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Too Gourmet, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.