AimRite Holdings Receives Financial Commitments.SAN DIEGO--(BUSINESS WIRE)--June 17, 1998--AimRite Holdings Corporation (NASDAQ/BB:AIMH AIMH Amelia Island Museum of History (Florida, USA) ) is pleased to announce that two companies have agreed to finance the costs associated with the initial production of the COAST(TM) computer controlled suspension system Noun 1. suspension system - a mechanical system of springs or shock absorbers connecting the wheels and axles to the chassis of a wheeled vehicle suspension . One company has agreed to fund the first production system that forms the basis for all production applications, including passenger cars, sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. , light duty pickup trucks & vans, RVs and heavy-duty trucks & buses. The other company has agreed to cover the costs of applying COAST to the first of several OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and vehicle applications. These financial commitments will provide AimRite with the ability to maintain its momentum towards achieving their 1999 sales projections. The production COAST computer controller will use the new SAE automotive standard Controller Area Network (CAN) for communications and incorporate Flash RAM for quick program modifications. This will allow for easy software maintenance and future upgrades on customer vehicles via a laptop PC and software supplied by AimRite. This technology is comparable to other computer controlled vehicle features, such as ABS braking and fuel management systems found on all new vehicles currently produced. In the future, we expect that the COAST system will become universally available on all vehicles because of the safety it offers, just like the ABS braking system has. The COAST (Computer Optimized Adaptive Suspension Technology) suspension system uses Variable Constant Force(TM) to dramatically improve vehicle stability, ride comfort and performance for virtually all automotive applications. According to company estimates, the initial production after-market applications for COAST in the sport utility vehicle industry alone comprise a potential of an estimated 3.5 million vehicles, including the Chevrolet/GMC Suburban, Tahoe & Yukon, Ford Lincoln Navigator, Expedition & Explorer, as well as many others. AIMRITE HAS A WEBSITE THAT CAN BE VISITED AT WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. .AIMRITE.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. . This release is intended as a forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to produce the COAST Suspension Technology in the future, (ii) Unexpected changes in the suspension market, (iii) The success of the Company's expansion and marketing strategies (iv) Competition with conventional suspension systems (v) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs and (vi) unexpected challenges to the patents.
CONTACT: Prima Capital-Corporate Communications
800/600-8599
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