CAM Designs To Produce Sports Car For AC Car Group Ltd

Business Wire, Oct 14, 1997

COVENTRY (UK)/NEW YORK--(BUSINESS WIRE)--October 14, 1997--CAM Designs Inc. (Nasdaq: CMDA) today announced it has contracted with AC Car Group Ltd., a subsidiary of Pride Automotive Group, Inc. (Nasdaq: LEAS), to produce its AC Ace V8 sports car. CAM Special Vehicles, the Company's niche vehicle build group, will productionize and assemble these vehicles from components provided by AC Cars. CAM will first assemble six pre-production vehicles and in January 1998 commence a 100-unit production schedule for the first year of the contract for cars intended for UK and mainland Europe markets. During this first production year, AC Car Group Ltd. will seek the vehicle's compliance with US engineering and environmental standards to ultimately accelerate production starting in 1999 to reach the American market. The accelerated program could entail as many as 500 cars annually.

Commenting on the announcement, John R. Davidson, CAM Designs' Chief Executive Officer, stated, "We are delighted that AC Car Group Ltd. determined CAM Designs' specialized niche vehicle production capability to be a suitable match for the 150 mph ACE sports car. The sheer volume of potential production requires a manufacturing process that combines high quality hand-build with volume process engineered techniques. AC is Britain's oldest carmaker, tracing its history back to 1901 and we are pleased to be a part this project. We are discussing additional elements of participation for the Company for the AC Ace project which could increase substantially the value of this contract."

CAM Designs Inc. is a leader in the design, engineering, manufacturing and prototyping for the automotive and aerospace industries. The Company also provides design and engineering personnel placement to these industries. -0-

Statements made herein that are forward-looking in nature within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions, particularly in the automotive industry, consumer and industry acceptance of new products, delays, cost overruns and changes associated with the performance of contract conditions, and regulatory risks.

CONTACT: Robert A. Righton, C.F.O.,

CAM Designs Inc.,

tel. 011 44 1203 407700

or

Hal Levine,

The Levine Group,

tel. (212) 682-8875