Roush Acquires Renowned Race-Engine Manufacturer Mountune Racing, Limited

LIVONIA, Mich., Jan. 6, 2004 -- Roush, a leading supplier of advanced automotive engineering services and specialty vehicle body accessories, today announced the acquisition of Mountune Racing, Limited, of England. This acquisition is part of Roush's on-going strategy to expand their European engineering operations, and will also address the growing demand for small-displacement, high-performance engines in the United States.

Mountune founder David Mountain announced the acquisition, saying: "Joining our successful business with one of the world's leading automotive development organizations is a great opportunity. Our wealth of experience backed by the considerable resources of Roush will open a whole range of new collaborative activities."

Mountune Racing, Limited was founded in 1979 in Maldon, England, and quickly established a reputation for building some of the most successful Mini engines on the competition circuit. In the late 80's, Mountune started preparing Cosworth YB engines for motorsport, producing numerous championships and forging a long-term association with Ford Motor Company. To date, Mountune has supplied engines for road and rally racing, supporting championship teams from Ford, Formula Palmer Audi, Ascari and Petronas/Proton.

"Mountune Racing is world-renowned for designing, prototyping, and manufacturing championship-level, small-displacement race engines," said Jim Yagley, Roush vice president of engineering. "Their expertise, particularly with turbocharged 4-cylinder engines, will support Roush's expansion of our OEM engineering and production capabilities."

Mountune Racing will be a wholly owned division of Roush, and will be located within Roush's Brentwood, England facility.

"Roush and Mountune have a complementary blend of specialized engineering talents," said John Mitchell, director of Roush operations in Europe. "Combined, we can offer our customers a broader range of services beyond what either organization could achieve on its own. Our Brentwood facility already houses some of the most advanced automotive engineering, design, and development capability in Europe. The addition of Mountune Racing takes that capability to a new level."

Roush, a full-service engineering supplier headquartered in the Detroit suburb of Livonia, Michigan, has approximately 2,000 employees in more than 50 facilities located throughout North America, Europe and the Far East. Recognized worldwide for providing outstanding engineering, program management, prototype development and manufacturing services to the transportation industry, Roush also has a significant role in supporting the electronics, consumer product and motorsports industries.