ASHA Corp. Name Changed to McLaren Automotive Group, Inc.

5 May 1999

ASHA Corp. Name Changed to McLaren Automotive Group, Inc.; NASDAQ Symbol Changed to MCLN

    DETROIT--May 5, 1999--Following application to NASDAQ for a new symbol reflecting the corporate name change from ASHA Corporation to McLaren Automotive Group, Inc., the Company has received confirmation that the new symbol will be MCLN effective at the open of trading today, May 5, 1999. The stock will continue to be traded on the NASDAQ SmallCap Market .
    McLaren Automotive Group, Inc. will now become the parent for ASHA Advanced Engineering and McLaren Engines, Inc. The structure of the new company will be positioned for growth, into the next century, through the development of new core businesses and complimentary acquisitions.
    Wiley McCoy, McLaren Automotive Group President and COO of McLaren Engines, Inc., commented, "Our new restructure and the addition of new key operations staff will ensure that we are on target in meeting the expanded needs of both our existing and future clients."
    On March 1, 1999 the Company was presented with the prestigious PACE (Premier Automotive Supplier Contribution to Excellence) Award in Detroit, and was honored as "Best of the Best" for its innovative GERODISC(TM) traction control system.
    ASHA Advanced Engineering develops advanced technology products and automotive design and manufacturing techniques for the global automotive industry, and licenses its patented GERODISC(TM) system technology. McLaren Engines, Inc. is a complete powertrain design, fabricating, and testing facility occupying 55,000 square feet of office and lab space in Detroit. During its thirty year record of service, McLaren Engines has serviced the research, development, and testing needs of more than one hundred clients, and is an ISO-9001 registered firm.
    This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgements with respect to, among other things, future economic, competitive, and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the Company. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this Release will prove to be accurate.
    The stock is traded on the NASDAQ SmallCap Market .
    Visit ASHA Advanced Engineering on the Internet at www.ashacorp.com, and McLaren Engines, Inc. at www.mclarenengines.com.