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Brake Headquarters U.S.A. Announces Listed on the Nasdaq/SmallCap

29 January 1999

Brake Headquarters U.S.A. Announces It Will Continue to Be Listed on the Nasdaq/SmallCap and Postpones Reverse Stock Split

    LONG ISLAND CITY, N.Y.--Jan. 28, 1999--Brake Headquarters, USA, Inc.'s common stock will continue to be listed on The Nasdaq SmallCap Market via an exception from the bid price requirement.
    While the company did not meet this requirement as of Jan. 25, 1999, the company was granted a temporary exception from this standard subject to the company meeting certain conditions. On or before March 10, 1999, the company's Common Stock must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive trading days or the company will need to effect a reverse split sufficiently prior to such deadline. In the event the company is deemed to have met the terms of the exception, it shall continue to be listed on The Nasdaq SmallCap Market. The company believes that it can meet the conditions, however, there can be no assurance that it will do so. If at some future date the company's securities should cease to be listed on The Nasdaq SmallCap Market, they may continue to be listed on the OTC-Bulletin Board. For the duration of the exception, the company's Nasdaq symbol will be BHQUC.
    On Jan. 19, 1999, the company announced it would effect a one-for-three reverse split of its common stock to be effective at the start of business on Jan. 29, 1999, which has been postponed.
    Founded in 1976, Brake Headquarters USA, Inc. is a rapidly growing manufacturer, wholesaler and distributor of automotive brake system products and other component parts for domestic and foreign cars and light trucks.
    This release contains certain forward-looking statements which involve known and unknown risks, uncertainties, and other factors not under the company's control which may cause actual results, performance, and achievements of the company to be materially different from the results, performance or expectations of the company. These factors may include, but are not limited to intense competition; the company's dependence on the automotive industry, which is cyclical; historical decreases in internal growth rates; the company's ability to manage growth; and other risks detailed in the company's periodic filings with the Securities and Exchange Commission.