Master Lock and Thule Towing Systems Announce Strategic Partnership

OAK CREEK, Wis.--Master Lock Company LLC, a leader in automotive security products, and Thule Towing Systems LLC, a leader in towing systems, today jointly announced the formation of a strategic partnership. The companies will distribute each other’s existing products to their respective customers, and will collaborate to develop and market new innovations.

As a result of this partnership, each company will offer their customers a comprehensive line of hitches, trailer balls and ball mounts, locking towing accessories, trailer lighting and electrical components, and heavy duty towing systems. “This partnership provides customers with the convenience of buying a full range of products from one vendor with one order and one invoice,” commented Don Spradlin, General Manager Automotive for Master Lock. “Our customers will benefit from having access to the best products from each company’s product lines.”

“We are excited by the opportunity to combine Master Lock’s innovative vehicle and towing security products with Valley’s full line of towing systems,” stated Anders Nordin, Vice President of Marketing for Thule Towing Systems. “Until now, customers wanting to buy all of their towing related products from one supplier had few alternatives. This partnership gives customers more choice,” continued Nordin.

The companies will begin distributing their expanded offerings to their respective customers immediately following the 2007 SEMA trade show.

About Master Lock Company LLC

Master Lock is the world's largest manufacturer of padlocks and related security products, providing innovative security solutions for home, automotive, campus, power sports, bike, and storage security needs for consumers and contractors alike. Master Lock is part of Fortune Brands, Inc. , a leading consumer brands company with annual sales exceeding $8 billion. For more information on Master Lock and its award winning line of security products, please visit www.masterlock.com.

About Thule Towing Systems

Thule Towing Systems has been producing a complete line of professional quality trailer hitches and towing accessories for over 60 years under the Valley brand. Thule Towing Systems is an operating unit of Thule AB, the world leader in delivering transportation solutions for active families, professionals and outdoor enthusiasts wanting to transport their equipment by vehicles safely, easily and in style. For more information on Thule Towing Systems, please visit www.valley.us.com, or www.thule.com.