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Laforza Automobiles in Negotiations to Acquire Italian Factory

6 September 2000

Laforza Automobiles in Negotiations to Acquire Italian Factory

    ESCONDIDO, Calif.--Sept. 6, 2000--Laforza Automobiles Inc. (Pink Sheets:LFZA) announced today that it is negotiating with Magnum Industriale SPA, in Italy, to acquire all of the assets, including tooling, inventory and intellectual property.
    Magnum has, to date, been Laforza's source of supply for Laforza bodies, frames and accessories.
    The acquisition is expected to provide additional sales opportunities for Laforza, particularly of the armored Magnum Classic, a level III and IV armored vehicle that is in use in several international cities.
    "With the Magnum acquisition, we hope to re-direct the resources of the company toward the manufacture and marketing of personal security vehicles," said David Hops, Laforza president and chief executive officer.
    "The world has become an increasingly dangerous place for wealthy individuals, business executives, and government officials," Hops added. "Our objective is to provide a new class of vehicle for personal security that looks and performs like a luxury SUV."
    Laforza currently manufactures and distributes a high-end luxury sport utility vehicle under the Laforza name-plate.
    Typical armored vehicles are custom-made, adding an average of $40,000 to $100,000 to the base price of an automobile. The Laforza Magnum is projected to have a base sticker price of $100,000. Pending the outcome of the proposed acquisition of the Magnum facilities and assets in Italy, Laforza expects a capacity of 200 vehicles per year.