FEV Engine Technology, Inc. to Present Inaugural Powertrain Development Award at 2007 Formula SAE Competition

Program will provide cash awards to top three collegiate teams

AUBURN HILLS, Mich., May 1 -- FEV Engine Technology, Inc. (FEV) announced today that it is sponsoring a new FEV Powertrain Development Award to be presented to the top three collegiate teams in this performance category at the Formula SAE student competition held on May 16, 2007 at the Ford Proving Grounds in Romeo, Mich. It is intended to reward the teams for overall excellence in powertrain development. The award, which will continue in perpetuity, will be presented for the first time this year.

"Competitiveness and innovation have become significant issues in the North American powertrain industry," said Robert J. Last, vice president of operations and communications for FEV. "These young engineers will be the torch bearers; their future work product will determine our ability to innovate and remain competitive in the world market. The kind of outside-the- box thinking, collaboration and creativity that we see in this Formula SAE competition are precisely what we must encourage at the university level as these young men and women move forward in their careers."

About the Award

The award is designed to be quantitative in nature and closely parallels the real-world powertrain development cycle. Taken into consideration are aspects such as performance, fuel economy, endurance and cost. FEV will use components of the current Formula SAE scoring system, adjusted by the application of appropriate weight factors, as a basis for the award. For example, maximum points available for "cost" under the SAE scoring system are 100. The FEV weight factor is 2.0, resulting in a total available number of FEV points of 200. Full details of the weight factors and scoring system are available on the SAE website (http://students.sae.org/competitions/formulaseries/fsae/).

  Utilizing this method achieves several goals:
  --  It uses a quantitative scoring system that is well known and tested
  --  It emphasizes elements that are most important in the development of a
      powertrain
  --  It provides the engineering student and the team with an equation that
      can be optimized, much like the product attribute decisions that
      today's powertrain designers and developers must make on a day-to-day
      basis.

Based on this system, the teams with the top three scores will be awarded a trophy along with a monetary award. The first place team will receive $1,250; the second place team, $500; and the third place team, $250. The award is utilized by the team's engineering department or university.

About Formula SAE

The Formula SAE(R) competition is for SAE student members to conceive, design, fabricate, and compete with small formula-style racing cars. The restrictions on the car frame and engine are limited so that the knowledge, creativity, and imagination of the students are challenged. The cars are built with a team effort over a period of about one year and are taken to the annual competition for judging and comparison with approximately 120 other vehicles from colleges and universities throughout the world. The end result is a great experience for young engineers in a meaningful engineering project as well as the opportunity of working in a dedicated team effort.

About FEV

FEV is an independent engine and powertrain systems research, design and development company headquartered in Aachen, Germany. Globally, it provides complete concept-to-production (C2P(TM)) support to the transportation industry, commercial engine manufacturers and the emerging fuel-cell industry. The company designs, prototypes and develops advanced gasoline-, diesel- and alternative-fueled engines, as well as advanced vehicle powertrain concepts, electronic control systems and hybrid-electric vehicles. FEV also is a global supplier of advanced test cell, instrumentation and test equipment.