ASHA Corporation a Finalist for Prestigious PACE Award

12 November 1998

ASHA Corporation a Finalist for Prestigious PACE Award; Awarded for Excellence and Innovation Among Automotive Suppliers

    SANTA BARBARA, Calif.--(AutomotiveWire)--Nov. 12, 1998--ASHA Corporation has been named a finalist for the prestigious 1999 Automotive News PACE(TM) Award. The annual PACE(TM) (Premier Automotive Suppliers Contributions to Excellence) Award is jointly sponsored by Automotive News and Ernst & Young LLP. The PACE(TM) Award program recognizes standout automotive suppliers who have excelled in adapting and reinventing their companies or their products to meet the growing service and quality demands of their customers...the world's major automotive manufacturers.
    ASHA is honored to be recognized for its GERODISC(TM) self-contained hydro-mechanical traction control technology, first introduced by Chrysler on its 1999 Jeep Grand Cherokee. GERODISC(TM) is an integral component in Chrysler's state of the art "Quadra-Drive" system which has drawn unanimous praise from the automotive community since its introduction this fall. According to Automotive Industries magazine, "The introduction of the Quadra-Drive system on the 1999 Jeep Grand Cherokee changes the rules of four-wheel drive so dramatically it may never be the same."
    The PACE(TM) Awards Committee recently completed a site visit to the ASHA headquarters, to familiarize themselves with GERODISC(TM) and how it will be implemented throughout the industry. Recipients of the 1999 PACE(TM) Awards will be announced at an awards ceremony at the Henry Ford Museum in Dearborn, Michigan on March 1, 1999, which coincides with the start of the 1999 SAE International Congress and Exposition.
    The 1999 PACE(TM) Awards will be selected by an independent panel of distinguished judges consisting of industry, academic, and business leaders. A record setting 89 companies were considered.
    "This recognition by the PACE(TM) Awards judges means a great deal to ASHA, to our employees, our licensees, and shareholders...it is both an honor and another block to build upon...we're very excited," said Kenneth Black, ASHA's Senior Vice President of Sales and Marketing.
    Currently, ASHA has twenty worldwide licenses in place for four-wheel drive, all-wheel drive, front-wheel and rear-wheel drive platforms which can utilize GERODISC(TM) technology.
    ASHA Corporation, headquartered in Santa Barbara, California, develops advanced technology products and automotive design and manufacturing techniques for the global automotive industry. The stock is traded on the NASDAQ SmallCap Market (Symbol:ASHA)

    Visit ASHA's Website at http://www.ashacorp.com for further information.