Advanced Accessory Systems, LLC Reports 2005 Financial Results

STERLING HEIGHTS, Mich., April 7 -- Advanced Accessory Systems, LLC (AAS), today held an investor call to discuss financial results for the year ended December 31, 2005. Net sales in 2005 were $443.5 million, representing an increase of $51.7 million or 13.2% compared with net sales of $391.8 million for the year ended December 31, 2004. OEM sales were up $44.5 million, primarily related to new roof rack program launches. Additionally, towing systems sales to aftermarket customers in both North America and Europe increased $5.4 million during fiscal 2005 compared to the same period in the prior year. Operating income (loss) in 2005 was $(43.4) million including a non-cash charge for impairment of goodwill and intangible assets of $43.1 million representing a decrease of $53.0 million compared with operating income of $9.6 million in 2004.

EBITDA defined as net income (loss) adding back the provision for taxes, interest expense, depreciation, amortization of intangible assets, impairment of goodwill and intangible assets on a trailing twelve-month basis as of December 31, 2005 was $18.3 million compared to $24.6 million for the period ending September 30, 2005, down $6.3 million. The net change is evenly related to plant operating issues in the U.S. OEM business and foreign exchange related to the U.S. dollar denominated intercompany indebtedness of Brink, whose functional currency is the Euro.

We are presenting EBITDA (as defined) because management considers this to be an important supplemental measure 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.

A digital recording of today's conference will be available April 7 through April 21, 2006 at dial-in-number (888) 266-2081 or for International, (703) 925-2533 using Access Code 880555.

WHERE CAN YOU FIND MORE INFORMATION?

The SEC Form 10-K is now available, under the name of Advanced Accessory Holdings Corporation. This report may be inspected and copied at the public reference facilities maintained by the SEC at Room 1024, Judiciary Plaza, 450 Fifth Street, N.W., Washington D.C. 20549. Copies of this material may also be obtained from the public reference facilities of the SEC at prescribed rates. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains a site on the World Wide Web (http://www.sec.gov/ ) that contains information regarding registrants, including the issuers who file electronically with the SEC.

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 31 facilities in North America and in Europe. More information is available at http://www.advancedaccessorysystems.com/