Universal Automotive Industries, Inc. Extends Term of Warrants

14 December 2000
Universal Automotive Industries, Inc. Extends Term of Warrants
    CHICAGO, Dec. 14 Universal Automotive Industries, Inc.
, announced today that on December 8, 2000, it amended
its Warrant Agreement with Continental Stock Transfer & Trust Company dated
December 22, 1994, as amended on November 9, 1999, extending the Exercise
Deadline to the earlier of December 31, 2001 or the business day immediately
preceding the Call Date, as defined in the Warrant Agreement.
    As of November 9, 1999, the Company reduced the exercise price to $2.25
per share and extended the Exercise Deadline to December 31, 2000.  The
Company decided to further extend the Exercise Deadline to afford warrant
holders a longer period to take advantage of the opportunity to exercise their
warrants and further invest in the Company's common stock.  Any cash received
by the Company in connection with the exercise of warrants will be used for
general corporate purposes.
    "The Company is pleased to extend the warrant Exercise Deadline to offer
our warrant holders the opportunity to further invest in the Company and
possibly increase the return on their investment," commented Arvin Scott,
President and CEO of the Company.
    The Company prepared and filed a registration statement on Form S-3 with
the Securities and Exchange Commission for the shares underlying the warrants
in January, 2000 that became effective on February 4, 2000.  We are preparing
an amendment to this registration statement to provide for the extension of
the exercise date.
    The Company is a manufacturer and distributor of brake rotors, drums, disc
brake pads, relined brake shoes, wheel cylinders and brake hoses for the
automotive aftermarket.  The Company markets approximately 50% of its product
under its UBP trademark (Universal Brake Parts) and as the Ultimate brand,
with the balance under its customers' private labels.  For further
information, contact the Company c/o Jerome J. Hiss, CFO (708-293-4050).
    This news release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to
be covered by safe harbors created hereby.  Such forward-looking statements
involve known and unknown risks, uncertainties (including those risk factors
referenced in the Company's filings with the Securities and Exchange
Commission), and other factors that may cause the actual results, performance
or achievements of the Company to be materially different from any future
results, performance, or achievements of the Company expressed or implied by
such forward-looking statements.