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Motorcar Parts & Accessories to Buy Certain Assets of Arrow Automotive Industries

21 September 1998

Motorcar Parts & Accessories, Inc. Announces Agreement in Principle to Acquire Certain Assets of Arrow Automotive Industries, Inc.

    TORRANCE, Calif., Sept. 21 -- Motorcar Parts & Accessories,
Inc. , today announced that it has entered into an agreement in
principle to acquire certain assets of Arrow Automotive Industries, Inc.,
located in Conway, Arkansas (Amex: AI), including its alternator and starter
remanufacturing operations and its clutch and crankshaft remanufacturing
operations.
    The acquisition is subject to the execution of definitive agreements,
which is subject to certain conditions, including satisfactory completion of
due diligence and obtaining requisite financing, among other things.
    Motorcar is a leading remanufacturer of alternators and starters for both
imported and domestic cars and light trucks in the United States and Canada.
Arrow remanufactures a variety of automotive parts for both imported and
domestic cars, light trucks and other vehicles for distribution throughout the
United States and Canada.