Advanced Accessory Systems, LLC Reports Second Quarter Results

STERLING HEIGHTS, Mich., Aug. 15, 2005 -- Advanced Accessory Systems, LLC (AAS), today reported results of the Company's second quarter ended June 30, 2005. Net sales for the second quarter of 2005 were $128.4 million, representing an increase of $20.1 million or 18.6% compared with net sales of $108.3 million for the second quarter of 2004. North American OEM sales were up $11.9 million, primarily related to new roof rack program launches. Additionally, towing systems sales to aftermarket customers in both North America and Europe increased $6.2 million during the second quarter compared to the same period in the prior year. Operating income in the second quarter of 2005 was $7.9 million representing an increase of $.6 million, or 8.2% compared with $7.3 million in the second quarter of 2004.

EBITDA defined as net income (loss) adding back the provision for taxes, interest expense, depreciation and amortization of intangible assets on a trailing twelve-month basis as of June 30, 2005 was $28.2 million compared to $28.5 million for the period ending March 31, 2005, down $.3. Excluding the effect of foreign exchange, EBITDA for the twelve-month period ended June 30, 2005 increased $1.4 million or 4.9% from the same period ended March 31, 2005.

We are presenting EBITDA (as defined) because management considers this to be important supplemental measures of the Company's performance. However, EBITDA has limitations as an analytical tool and should not be considered in isolation, or as a substitute for analysis, of the Company's results as reported under GAAP.

Advanced Accessory Systems, headquartered in Sterling Heights, Michigan, is one of the world's largest designers and manufacturers of exterior accessories for the automotive Original Equipment Manufacturers market and the aftermarket. AAS believes it is the largest supplier of towing systems in Western Europe and the second largest in the US. In addition, AAS is one of the two largest suppliers of rack systems in both North America and Western Europe. AAS currently operates 32 facilities in North America and in Europe. More information is available at http://www.advancedaccessorysystems.com/ .