Obsidian Enterprises, Inc. Announces it has Settled its Dispute with Old National Bank

INDIANAPOLIS, Feb. 7, 2007 -- Obsidian Enterprises, Inc. announced that it has entered into an Agreement with Old National Bank which resolves the parties' dispute. More specifically, the Agreement resolves a complaint filed by the Bank vs. Obsidian Leasing Company, Inc.; Pyramid Coach, Inc.; Obsidian Enterprises, Inc.; Timothy S. Durham; Terry Whitesell; and Julia Whitesell filed in December of 2006.

"We are glad to have resolved this dispute with Old National Bank and are focusing on rebuilding Pyramid Coach to return to its once very profitable status. Pyramid Coach, because of a substantial embezzlement by its previous manager, has suffered the past two years, which gave rise to this dispute with the Bank," said Timothy S. Durham, Chairman and CEO of Obsidian Enterprises, Inc.

Obsidian Enterprises, Inc., is a private holding company headquartered in Indianapolis, Indiana. Obsidian invests in small- and mid-cap companies in basic industries such as manufacturing and transportation. Obsidian's subsidiaries include Pyramid Celebrity Coaches, United Trailers, U.S. Rubber Reclaiming and Classic Manufacturing. For more information visit Obsidian Enterprises www.ObsidianEnterprises.com.