Edelbrock Corp., Torrance, Calif., Announces Stock Repurchase

11 October 1999

Edelbrock Corp., Torrance, Calif., Announces Stock Repurchase

    TORRANCE, Calif.--Oct. 8, 1999--Edelbrock Corp. Friday announced that the board of directors of the company authorized a systematic program for the repurchase of up to 50,000 additional shares of its common stock, having a par value of $0.01 per share, for cash, in the open market on the NASDAQ National Market system and in privately negotiated transactions.
    The 50,000 shares would represent approximately one percent of the company's 5.2 million outstanding shares of common stock. The company had earlier re-purchased 50,000 of its shares at an average price of $14.51 at a total cost of $725,500 reflecting management's confidence in Edelbrock's future. Such re-purchases will benefit earnings per share comparisons in future periods.
    Vic Edelbrock, Edelbrock's chief executive officer and chairman, stated that the board of director's decision reflects the company's opinion that Edelbrock Corporation common stock is undervalued in the market and represents a good investment.
    The repurchased shares will be accumulated by the company and held in treasury for the purpose of providing available shares for possible resale in future public or private offerings and any other actions that its board of directors considers appropriate. The purchases will be made from internal working capital of the company and none of these funds will be borrowed.
    The repurchases will commence on Oct. 12, 1999, and will be carried out in accordance with certain volume, timing and price constraints imposed by the Securities and Exchange Commissions' rules applicable to such transactions. The amount, timing and price of purchases will otherwise depend on market conditions and other factors.
    Founded in 1938, Torrance-based Edelbrock Corp. is recognized as one of the nation's premier designers, manufacturers and distributors of performance replacement parts for the automotive and motorcycle aftermarkets. In addition to three production facilities in Torrance, the company owns and operates a state-of-the-art aluminum foundry and its QwikSilver Division for motorcycle aftermarket parts in San Jacinto, Calif., at which it manufactures many of its quality products.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve known and unknown risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include such factors as the financial strength and competitive pricing environment of the automotive and motorcycle aftermarket industries; product demand; market acceptance; manufacturing efficiencies; new product development; the success of planned advertising, marketing and promotional campaigns; the success of the company's, its vendors' and its suppliers' year 2000 compliance programs; and other risks identified herein and in other documents filed by the company with the SEC.