Amerigon Institutes Senior Executive Management Changes; Appoints Three New Directors; Names New Chairman

28 June 1999

Amerigon Institutes Senior Executive Management Changes; Appoints Three New Directors; Names New Chairman

    IRWINDALE, Calif.--June 28, 1999--Amerigon Inc. Monday announced that following the private placement of $9 million of convertible preferred shares completed on June 8, it has promoted Richard A. Weisbart, 53, to president and chief executive officer, effective immediately.
    He replaces Lon E. Bell, Ph.D., 58, as chief executive officer; Bell was named vice chairman of the board and director of technology. Weisbart has been Amerigon president and chief operating officer since joining the company in May 1997. The company also appointed three new directors, expanding the board to seven, and named a new chairman of the board.
    Oscar ("Bud") B. Marx, 60, president of TMW Enterprises, a private investment firm, was appointed a director and named chairman of the board, replacing Bell as chairman. Marx was formerly vice president of the Ford Motor Company Automotive Components Group (currently known as Visteon). The two other new directors are James P. Paulsen, 59, retired Ford Motor Company executive who was formerly president of Ford's China Operations and executive director of Ford's corporate quality office; and Paul Oster, 42, chief financial officer of TMW Enterprises.
    The company has previously announced that it is working with a North American automaker for a planned model-year 2000 launch of its Climate Control Seat(TM) system (CCS(TM)). It is also working with European, Asian, and other North American automotive companies and their seat suppliers to introduce the CCS system in 2001 and 2002 model year vehicles.
    Bell commented, "As Amerigon expands the commercialization and development of its CCS system and AmeriGuard(TM) collision avoidance radar, I believe my best role for the company will be to focus on furthering the development of these technologies to maintain our technological leads in our principal market areas."
    Amerigon, an emerging player in the global automotive industry, develops and markets proprietary products for automotive OEMs. The Climate Control Seat(TM) (CCS(TM)) technology provides active heating, cooling and dehumidification for seat occupants. CCS will debut in a model year 2000 vehicle. The company's other products include its AmeriGuard(TM) radar sensor systems designed to extend the driver's field of view in such vehicle applications as enhanced parking aids, back-up warning systems and side object detection.

    This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements, including, without limitation,, demand for the company's products, uncertainties in the development of high technology products, risks and delays in obtaining customer orders, technological change, competition and other risks and uncertainties that are detailed in the company's Annual Report on Form 10-K and other reports filed by it with the Securities and Exchange Commission.