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McLaren Announces Completion of 2 Private Stock Placements

26 April 2000

McLaren Performance Technologies Announces Completion of 2 Private Stock Placements

    LIVONIA, Mich.--April 26, 2000--McLaren Performance Technologies Inc. today announced the completion, within the last 40 days, of two private stock placements.
    The cash value of the private placements totaled $1,600,000.
    Jacqueline Kurtz, company CFO, remarked, "These successful private placements will allow us the funding to move aggressively forward with our programs of enhanced capabilities and new acquisitions, in support of our core business."
    Lawrence Cohen, chairman of the board, added, "The additional working capital will allow us to solidify many of our going forward plans. I am especially gratified by the confidence shown by several of our major investors in the potential of McLaren Performance Technologies, our management and our expanding list of products and services."
    This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives. The forward-looking statements herein are based on current expectations that involve judgements with respect to, among other things, future economic, competitive, and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond control of the company. Although the company believes that the assumptions underlying the forward-looking statements are reasonable, any one of the assumptions could be inaccurate and, therefore, can be no assurance that the forward-looking statements included in this release will prove to be accurate.