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George Jones Named Ceo of AC Tech

7 September 1999

George Jones Named Ceo of AC Tech

    NEW YORK--Sept. 7, 1999--George M. Jones today was named President and Chief Executive Officer of Advanced Chemistry and Technology, Inc. (AC Tech), an operating unit of PBT Brands, Inc. Mr. Jones succeeds Dean M. Willard, who will continue as AC Tech's Board Chairman.
    Mr. Jones, 53, recently resigned as president of TA Mfg. Co., a division of Esterline Technologies, a NYSE listed $500 million corporation servicing the aerospace/defense and industrial automation sectors. He had served as president of TA Mfg. since 1994. TA Mfg. is a global market leader in elastomer components for the aerospace industry. AC Tech, founded in 1997, develops and manufactures sealants for the aerospace and aircraft industry.
    "George Jones brings a strong knowledge base of the aerospace/aircraft industry and specialty chemical formulating and manufacturing to AC Tech," said Mr. Willard. "With George on board, I can now devote more of my attention to PBT Brands, and the opportunities it affords us in the area of specialty chemicals for the automotive aftermarket and aircraft industries, as part of my duties as CEO of PBT Brands. I can also concentrate on growth opportunities for Automotive Performance Group, Inc. (OTCBB: RACG), as part of my duties as CEO of APG."
    Automotive Performance Group is affiliated with AC Tech through APG's 22% equity ownership of PBT Brands.
    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.
    Automotive Performance Group, Inc., participates in the fast-growing high-performance automotive and specialty chemical industries through its 22% equity ownership in PBT Brands Inc., a leading manufacturer, distributor, and marketer of premium functional chemical products to the automotive maintenance and repair markets, and Advanced Chemistry and Technology, Inc. (AC Tech), which develops and manufactures sealants for the aerospace and aircraft industry.