Holley Performance Products, Inc. and KHPP Holdings Inc. Extend Expiration Date for Senior Notes Exchange Offer and Consent Solicitation

BOWLING GREEN, Ky., Dec. 21, 2005 -- Holley Performance Products, Inc. ("Holley") and KHPP Holdings, Inc. ("Holdings") announced today that they are extending until 11:59 p.m. New York City time on January 4, 2006, unless further extended, the expiration date of the exchange offer and consent solicitation with respect to the 12-1/4% Senior Notes due 2007, Series B of Holley (the "Notes"). The exchange offer had been scheduled to expire on December 21, 2005. All other terms of the exchange offer and consent solicitation remain unchanged. The consummation of the exchange offer is subject to a number of conditions, including the valid tender of at least 98% of the total principal amount of outstanding Notes. As of 5:00 p.m. New York City time on December 21, 2005, approximately 65% of the total principal amount of outstanding Notes had been validly tendered for exchange. The offer is being extended for several reasons, including (1) to provide additional time for holders of the Notes to complete the paperwork necessary to tender their Notes and (2) to provide additional time to finalize the legal documentation necessary to close the transaction.

The terms of the exchange offer and consent solicitation, and other information relating to Holley and Holdings, are set forth in the Exchange Offer and Consent Solicitation dated November 23, 2005. Questions and requests for assistance or additional copies of this Exchange Offer and Consent Solicitation and the letter of transmittal may be directed to Jefferies & Company, Inc., who is serving as the Dealer Manager for the exchange offer and consent solicitation, at 520 Madison Avenue, New York, New York 10022, Attention Zul Jamal, and telephone number (212) 284-2054.

Tenders of Notes and deliveries of consents must be received prior to 11:59 p.m. New York City time on January 4, 2006 (the "Expiration Date"), unless further extended. Tenders of Notes may be withdrawn and consents may be revoked at any time until the Expiration Date.

This announcement is neither an offer to sell nor a solicitation of an offer to buy or exchange the Notes or the securities offered in exchange for the Notes. The exchange offer and consent solicitation are made solely pursuant to the Exchange Offer and Consent Solicitation dated November 23, 2005, including any supplements thereto.

About Holley Performance Products, Inc.

Holley Performance Products, Inc. designs, manufactures and markets a diversified line of performance automotive products, including carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, camshafts, crankshafts, pistons, connecting rods and automotive performance plumbing products.

About KHPP Holdings, Inc.

KHPP Holdings, Inc. is the parent company of Holley Performance Products, Inc.

Safe Harbor Statement

Some of the statements in this news release constitute "forward-looking statements". All statements other than statements of historical fact included in this news release are forward-looking statements. Although Holley and Holdings each believe that the expectations reflected in such forward-looking statements are reasonable, neither Holley nor Holdings can give any assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from Holley's and Holdings' expectations ("Cautionary Statements") are disclosed in the Exchange Offer and Consent Solicitation. All subsequent written and oral forward- looking statements attributable to Holley, Holdings or any person acting on their behalf are expressly qualified in their entirety by the Cautionary Statements.