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Trident Rowan Group Hires IMI as Financial Advisor

4 January 2000

Trident Rowan Group Hires IMI as Financial Advisor to Pursue Strategic Alternatives for Moto Guzzi Corporation

    NEW YORK--Jan. 4, 2000--Trident Rowan Group, Inc. (OTC BB: TRGI) ("TRG") today announced that it has recently retained Banca di Intermediazione Mobiliare IMI Spa, a leading Italian investment bank, to pursue strategic alternatives to enhance shareholder value in its shareholding in Moto Guzzi Corporation (OTC BB: GUZI). TRG owns 3.5 million shares of Moto Guzzi or approximately 62 percent of Moto Guzzi's total outstanding common shares.
    IMI has been authorized to consider a number of alternatives, including strategic alliances, financings, mergers, and the sale of some, or all, of Moto Guzzi.
    Mark Hauser, Trident Rowan Group's co-chief executive officer, commented, "We are enthusiastic about the engagement of IMI. In recent months, we have received various proposals regarding Moto Guzzi and with IMI's help we can now explore these alternatives as well as others to better realize the full value of TRG and its investment in Moto Guzzi."
    Emanuel Arbib, Trident Rowan Group's co-chief executive officer, added, "This mandate combined with the financing announced earlier, should position us to enhance the value of our shareholding in Moto Guzzi. We had been in discussions with several international investment banks in the last few months in order to effectively explore all available alternatives in connection with our control stake in Moto Guzzi. We decided to retain Banca IMI because of its highly experienced investment banking team, which has worked, even very recently, in transactions involving motorcycle companies. In addition, as one of Italy's two leading investment banks, IMI will bring us a wealth of contacts in the Italian marketplace."
    Separately, TRG also announced that it had appointed a new Board of Directors at its recent annual meeting. The new board is comprised of Gianni Bulgari, Howard E. Chase, Mark Hauser, Emanuel Arbib, Andrea della Valle, Duncan Chapman, and Mark Segall. Furthermore, to continue its asset realization program, the company recently sold its interest in its Sardinia property, and also its shareholding in TIM, its temporary management group. In connection with the retention of IMI, TRG has also hired the Italian law firm of Carnelutti & Partners to serve as TRG's Italian legal advisors.
    Trident Rowan Group, through subsidiaries, is a manufacturer of luxury and high-performance motorcycles and welded steel tubes.

    "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements in this release which are not historical facts are forward-looking and involve risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, increased investment to support product introductions, market acceptance of products, product transitions by the company and its competitors, currency fluctuations, changes in product sales mix, and other risks described in the company's registration statement and other Securities and Exchange Commission filings.