McLaren Performance Technologies Announces Appointment to Board of Directors

21 June 2000

McLaren Performance Technologies Announces Appointment to Board of Directors

    LIVONIA, Mich. - Livonia-based McLaren Performance Technologies has announced the appointment of Hayden H. Harris to their Board of Directors. Mr. Harris has been providing assistance to growth companies since 1977 when he founded Ann Arbor, Michigan based Enterprise Management. His consulting company focused on providing management assistance to technology-based companies. In 1987, Enterprise Management, Inc. became the General Partner of Enterprise Development Fund. This has led to the formation of two additional venture capital funds and the firm is now known as EDF Ventures. EDF Ventures funds make equity investments in early stage, pre-public, rapidly growing companies.

    Mr. Harris currently serves as Chairman of Auxein corporation, a specialty agricultural chemical company; as Chairman of DynamOx, Inc., a provider of proprietary environmental equipment and as a Director of Media Station, Inc, a broadband multimedia service provider and TherOx, Inc., a medical therapeutics company.

    As one of his many turn-around consulting jobs Mr. Harris became Chairman, CEO and the majority shareholder of Software Services Corporation a provider of contract software services. In 1998 he led the sale of this company to AppNet Systems, Inc., a leading public e-commerce service provider.

    Previously he served as an officer, director and shareholder of four high growth, technology-based companies. Earlier in his career, Mr. Harris conducted merger and acquisition activities for TRW, Inc. He has an MBA and a BS from the University of Southern California.

    In addition to Mr. Harris' distinguished business career he has been extremely active in a broad base of motorized sports. He began racing outboard hydroplanes as a teenager and advanced to limited inboards where he designed and built boats for himself and others. He also raced sprint cars and midgets on the West Coast. He most recently has been involved in aerobatic aircraft competition flying his modified homebuilt Pitts S1-200 airplane.

    Larry Cohen, Chairman of the Board of Directors stated "We at McLaren are delighted with the broad base of experience, the technical expertise and the tremendous enthusiasm that Hayden brings to our Board. His knowledge of both the business and performance worlds make him a unique and valuable asset." Added President Wiley McCoy, "Hayden has already been a source of valuable input to our management team and we all look forward to working with him in the future."

    Mr. Harris' appointment becomes effective June 16th.