Steve Saleen to Become Vice-Chairman of Saleen Inc.

Brian Walsh Named President and COO

IRVINE, Calif., Aug. 9 -- Steve Saleen, founder of Saleen Inc., today announced that he has promoted the company's Chief Operating Officer, Brian Walsh, to the additional post of President. As President, Mr. Walsh will be responsible for the management of all of the company's day-to-day activities. This change will take effect on September 1, 2006.

As Founder and Vice Chairman, Mr. Saleen will continue to lead the company's product design and development activities, as well as its branding strategies and promotional efforts.

"As Saleen's Chief Operating Officer for the past year, Brian has proven that he has the right professional skills to manage our continued growth," said Mr. Saleen. "This change formalizes the roles Brian and I already play within the company, and will allow me to devote my full energy to what I do best: designing and producing the world's greatest high-performance vehicles, building relationships with customers and promoting the Saleen brand around the world."

"Brian's appointment is a direct response to our extraordinary growth over the past few years," continued Mr. Saleen. "We now have more than 500 employees, two manufacturing facilities, and we've just opened our first Saleen retail store in Irvine, California. We also have plans to further expand our product line, our manufacturing footprint and capabilities and our management team. Brian's manufacturing expertise, together with his knowledge of Saleen's products, customers and business partners, will enable us to achieve Saleen's full potential in the years ahead."

Michael Fourticq, Managing Partner of Hancock Park and Chairman of the Board for Saleen Inc., said, "Steve Saleen is a true visionary in the world of high performance vehicles. He is the heart and soul of this company and its products. With the combination of Steve's passion and Brian's management skills we are very excited about the company's continued success."

Prior to his appointment as Saleen's Chief Operating Officer in March 2005, Mr. Walsh held a number of positions at Saleen, including General Manager of its Irvine, California and Troy, Michigan manufacturing plants. Prior to joining Saleen, Mr. Walsh worked with Masco companies such as Thermador (COO) and LaGard (President) in the home products industry. Both of these companies offered challenging manufacturing products with a high-end customer base. While COO with Thermador, Brian played an instrumental role in driving the company growth and later helped sell the company to BoschSeimens. Prior to Home products industry, Brian worked with various companies including RJReynolds, Golden State Foods Corporation, BSN Dannon Company and Mars. The focus in all of these companies was to improve overall company performance, product quality, refining operations and building solid relationships with customers. Mr. Walsh received his undergraduate degree in Finance and Business from California Polytechnic University, Pomona and completed an Executive Business Program with UCLA.

About Saleen Inc.

Since the company's inception in 1984, Saleen has produced over 10,000 complete and EPA certified vehicles, more than any other specialty manufacturer. In addition, Saleen has equipped more than 600,000 vehicles worldwide, further emphasizing their commitment to excellence.

An eight-time Manufacturers' Champion in GT sports car racing, Saleen's corporate facilities in Irvine, California, include: research, design, engineering and manufacturing capabilities, as well as the coating/paint division. Saleen also has manufacturing facilities in Troy, Michigan where the assembly and paint of the Ford GT is accomplished. Additional Saleen manufacturing sites are located in Canada. For more information please visit, www.saleen.com.

About Hancock Park Associates

Founded in 1986, Hancock Park Associates is a Los Angeles, CA based private equity firm that focuses on investments in small to mid size operating companies. HPA led a recapitalization of Saleen Inc. in 2003.