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Automotive Performance Group Intent to Acquire Aftermarket of Loctite

8 February 1999

Automotive Performance Group, Inc. Announces Letter of Intent to Acquire the Automotive Aftermarket Business of Loctite, Inc.


    TEMPE, Ariz.--Feb. 5, 1999--AUTOMOTIVE PERFORMANCE GROUP, INC. (OTC BB:RACG), a full service owner and operator of high performance automotive businesses and brands, announced today that it has entered into a letter of intent to acquire the automotive aftermarket business of Loctite, Inc. for an undisclosed sum.
    Dean M. Willard, Chairman and Chief Executive Officer of APG stated, "The anticipated acquisition of Loctite's Automotive Aftermarket business will add over $100 million of new revenues to the company and the rights to such highly respected tradenames and product lines as Permatex(R), Fast Orange(R), The Right Stuff(R)and Simoniz(R). The letter of intent with Loctite calls for a closing within the next three to four months."
    Automotive Performance Group, Inc. is a full service owner and operator of high performance automotive businesses including Royal Purple Motor Oil, which produces synthetic oil and chemical products favored by many racing teams and manufacturers, and Klein Engines and Competition Components, Inc., a leading manufacturer of high performance engines.
    Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Automotive Performance Group, Inc.'s business and prospects and cause actual results to differ materially from these forward-looking statements.