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$30 Million Merger: Company Ends Indian Motorcycle Trademark Dispute

6 November 1998

$30 Million Merger: Company Ends Indian Motorcycle Trademark Dispute
    TORONTO, Nov. 6 - In a $30 million merger, American Indian
Motorcycle Company, Indian Motorcycle Company Inc., California Motorcycle
Company and six related companies are merging to become the second largest
producer of heavy cruiser motorcycles in North America. The company will spend
in excess of $17 million to purchase the trademark rights of Indian Motorcycle
in the United States from the receivership of Indian Motorcycle Manufacturing,
Inc., finally consolidating the trademark in North America and ending more
than 45 years of confusion around trademark ownership.
    The Indian Motorcycle, which was manufactured in Springfield
Massachusetts and known as, ``the pride of the American road,'' was an
American icon. It was the preeminent American motorcycle from 1901 to 1953.
    According to Murray Smith, CEO of Indian Motorcycle Company Inc., the
hearing that will finalize the sale of the trademark will take place in the
Federal District Court of Colorado in Denver on November 25, 1998. ``For the
first half of the century there was an intense ongoing competition between two
motorcycle giants,'' Smith says. ``And now there's going to be one again.''
    The Company has completed 35 of the limited edition, signature series,
new 1999 Indian Chiefs at their California manufacturing facility. The plant
has a current production capacity of 3000 units a year with plans to expand it
to 25,000 units a year by 2000.

    Indian Motorcycle to Unveil 1999 Chief at Los Angeles' Love Ride
    Peter Fonda, Yankee's star pitcher David Wells, Robbie Knievel, actor Dan
Haggerty and Company executives are among Company supporters who will ride the
new Indian Chiefs in the annual Love Ride in Los Angeles November 8. The ride,
which attracts more than 20,000 motorcycle riders, raises money for the
Muscular Dystrophy Association.

    Company to Auction One of First 1999 Chiefs At Magic Johnson Dinner
    Indian Motorcycle Company Inc. is a sponsor of the 1999 Magic Johnson
Sports Star Dinner and Auction in aid of the Muscular Dystrophy Association
this coming February in Los Angeles. One of the first 1999 Chiefs will be
auctioned to the highest bidder at this high profile annual event attended by
more than 800 Los Angeles sports, business, and entertainment professionals.