Carroll Shelby Partners With Ford Motor Company to develop Performance Products

LOS ANGELES, Aug. 22, 2003 -- Carroll Shelby International, Inc. (BULLETIN BOARD: CSBI) , announced today that Carroll Shelby, its Chairman and Chief Executive Officer, has once again partnered with the Ford Motor Company to offer his expertise to Ford Performance Group in a project to jointly develop specialty niche performance products.

Like the performance oriented Shelby Fords developed in collaboration more than 40 years ago, Ford's upcoming lineup of Shelby-influenced performance cars will offer discerning enthusiasts and consumers everything they've come to expect from a Shelby vehicle -- higher performance, better handling and unique, dynamic designs.

"Throughout my career, I have had the privilege of working with several manufacturers in the development of some great automobiles," says Shelby. "But my energy and passion for performance products has always been at its peak when it involved a Ford Motor Company vehicle. I couldn't be more proud to have another opportunity to recreate history."

In the 1960s Carroll Shelby and Ford worked together on both racing and production vehicle programs, from the original Ford-powered Shelby Cobra to the Le Mans-winning Ford GT40 racing cars and the Shelby GT350 and GT500 Mustangs that kick-started the pony car craze. It was a decade of performance punctuated by Ford muscle and Shelby's engineering prowess.

Carroll Shelby, still a dominant force in the automotive industry at age 80, has recently been serving as a senior technical advisor to Ford's team developing the new Ford GT supercar, providing design and engineering support.

About Carroll Shelby International, Inc.

Carroll Shelby International, Inc. is the parent company of Shelby Automobiles and Carroll Shelby Licensing.

Shelby Automobiles Inc. is manufacturing high performance Shelby vehicles under the guidance of the legendary Carroll Shelby and will be involved in prototype manufacturing, design and engineering projects; and plans to increase production and availability of these Shelby products through an expanded dealer network and direct sales under a license agreement with Carroll Shelby Licensing Inc. For more information, call 702/325-4851 or visit the company's web site at www.shelbyautos.com .

Carroll Shelby Licensing Inc., founded in 1988, is the exclusive holder of automotive manufacturer and entrepreneur Carroll Shelby's trademarks and vehicle design rights, which include some of the world's most famous muscle cars and high-performance vehicles, including the car that brought home to the U.S. it's first and only FIA World Manufacturers Championship in 1965, the famous Shelby Cobra Daytona Coupe. It also holds trademark rights for Shelby-branded apparel, accessories and collectibles. For additional information about the company or licensing opportunities, call (310) 914-1843, or fax (310) 914-1853 or write to Carroll Shelby Licensing, Inc., 11150 West Olympic Boulevard, Suite 1050, Los Angeles, CA 90064 or visit www.carrollshelby.com .