Top Source Receives Reorder For OSA-II Unit From Detroit Automaker

26 May 1999

Top Source Receives Reorder For OSA-II Unit From Detroit Automaker

    PALM BEACH GARDENS, Fla.--May 25, 1999--Top Source Technologies, Inc. (AMEX: TPS), announced today that it received an OSA-II reorder from Ford Motor Company, Inc. ("Ford").
    The Company together with Ford entered into a one-year lease agreement with a purchase option for a MotorCheck(TM) On-Site Oil Analyzer Unit ("OSA-II") to be used in their Houston, Texas transmission facility. This represents Ford's second unit for use in both powertrain development and durability testing. Previously, the Company sold an OSA unit for internal powertrain development and fleet testing at Ford's automatic transmission facility in Livonia, Michigan.
    Will Willis, Chairman and Chief Executive Officer, commented, "This transaction represents a long awaited reorder from a Big Three Automaker. While we continue to aggressively pursue multiple unit orders in a variety of industries, this particular reorder once again validates the OSA-II technology, as well as demonstrates the continued OEM interest in our technology. This placement generates not only OSA-II lease revenue, but also "per click" and consumables revenue. We will continue sales efforts to generate repeat business with other OEMs."
    Mr. Willis further stated, "We continue to make distribution inroads with the OSA-II. Speedco, a major customer, has expanded current OSA usage to 16 locations, with commitments for two additional OSA-II units during the month of June."
    Top Source Technologies, Inc. develops, assembles, and markets sophisticated technologies including the patented MotorCheck(TM) On-Site Analyzer, "an oil analysis mini-lab in a box," and proprietary Overhead Sound Systems.