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Investor Group Submits Bid for Assets of Breed Technologies

27 March 2000

Investor Group Led by Two Prominent Auto Industry Executives Submits Bid for Assets of Breed Technologies

    LAKELAND, Fla.--March 27, 2000--An investor group led by auto industry executives Ernie Green, chairman and chief executive officer of Dayton, Ohio-based EGI and Johnnie Cordell Breed, co-founder, chairman and chief executive officer of BREED Technologies, Inc. (OTC: BDTTQ) has submitted a bid to purchase substantially all of the assets of BREED Technologies, Inc. which is currently operating under the protection of Chapter 11 of the United States Bankruptcy Code.
    The details of the bid submitted on Friday to BREED's board of directors were not disclosed. A spokesperson for the investor group said they would have no further comment on the nature of the bid while it was still under consideration.
    BREED Technologies, one of the world's most fully integrated suppliers of complete automotive occupant safety systems, has approximately 16,000 employees in 42 facilities around the world.