Carroll Shelby Unveils New Ford Shelby GR-1 Concept at Monterey's Concorso Italiano

LOS ANGELES, Aug. 20, 2004 -- Carroll Shelby International, Inc. (BULLETIN BOARD: CSBI) , announced today that Carroll Shelby, its Chairman and Chief Executive Officer, and Ford Motor Company , unveiled the new Ford Shelby GR-1 concept sports car at the 2004 Concorso Italiano automotive show in Monterey, CA. A uniquely emotional American sports car design that makes a bold statement about future product, the Ford Shelby GR-1 takes the performance car genre in a new and exciting direction.

Combining modern sculptured surfaces in a sleek, muscular fastback design, the Ford Shelby GR-1 is a front-engined, two-seat supercar based on the architecture of the Ford GT, and infused with the kind of emotional automotive inspiration only Carroll Shelby can deliver.

"We're reinventing our performance heritage with a race-inspired reminder of the kind of cars that made the world sit up and take notice of American automotive design and prowess," says Carroll Shelby. "Forty years ago we upended the racing world with our powerful machines and changed the face of production cars in the process. With the new Ford Shelby Cobra concept and the GR-1 we're ramping up to do it again."

Working closely with the Ford Design Team and Advanced Product Creation Group, Shelby helped draft a sinewy, athletic design with a powerfully proportioned, elongated hood that blends seamlessly into a teardrop-shaped cabin. Optimized wheel arches and compact overhangs define the GR-1's unique styling while its dramatic fenders dart rearward into curvaceous haunches that enhance the car's aggressive stance and width.

Up front, the GR-1 is dominated by an impressive air intake aperture and airflow splitter directing cooling air into the engine bay and wheel wells. Butterfly-hinged doors and a distinctive concave Kamm tail, reminiscent of the original Shelby Daytona Coupe design, hint at the car's underhood performance capabilities.

Powered by a Ford 6.4-liter V10 engine that delivers 605 horsepower at 6,750 rpm and 501 lb ft of torque at 5,550 rpm through a 6-speed transaxle, the Ford Shelby GR-1 is the newest chapter in a continuing line of supercar concept collaboration. 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.

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. its 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.carrollshelbyinternational.com or www.carrollshelby.com.