Amid Harsh Weather Conditions and Downturn Economy Davin Wheel Company Increases Sales; New Manufacturing Plant Credited with Increased Sales, Production and Quality.

Business Editors/Automotive Writers

PROVIDENCE, R.I.--(BUSINESS WIRE)--April 10, 2003

Nearly unaffected by the record snowfalls on the East Coast and the drop in consumer spending, Davin Wheels, the originator of the world's first continuous motion wheel, is reporting a 400 percent increase in its first quarter sales over the previous year's first quarter. Davin attributes much of this success to its new manufacturing plant in Norwalk, Calif., which opened in November 2002.

Profitable since 2001, Davin has experienced steady growth and is on track to more than double their 2002 sales, which totaled more than $3.6 million. Although Davin produces a limited number of its wheels to keep demand high, sales for 2003 are projected to reach $8.5 million.

A large contributor to the rise in Davin's sales is its new 12,000 square foot manufacturing plant in Norwalk. Prior to opening the facility, production of the wheel was outsourced, which decreased production capacity and affected Davin's ability to manage output. By manufacturing all wheels at the new plant, Davin controls the quantities produced, the production schedule and quality of the products.

"In 2002 we evaluated our business and took the time to make the changes that would have long-term benefits," said Ian Hardman, CEO, Davin Wheel Company. "In addition to acquiring our own manufacturing facility, we streamlined our processes, added employees and initiated a full branding and marketing campaign. Our sales are now starting to reflect the fruits of our labor."

Davin's first quarter was also highlighted by several other milestones. In January, Davin became the first company to introduce authentic wood and carbon fiber materials to its wheels with the release of the Revolution 4.0 line. Davin also sponsored the National Basketball Players Association Gala during the 2003 NBA All-Star Weekend in Atlanta.

Davin is poised to revolutionize the automotive aftermarket industry once again with the April 2003 release of the first spinning wheel for the Hummer H2. Creating a safe custom wheel for the H2 is a breakthrough in design and engineering due to the massive weight of the vehicle.

About Davin Wheel Company

Davin Wheels, founded in 1998, designs and manufactures high-end custom wheels for the elite auto enthusiast. As the inventor of the world's first continuous spinning wheel, Davin combines style and sophistication with cutting-edge technology and design. Davin has revolutionized the automotive aftermarket industry with patented applications and unique business practices.

Davin first introduced its innovative spinning technology with the debut of Revolution 1.0 at the LA Auto Show in January 2001. Since then, Davin has sold out each subsequent Revolution line. In 2002, Davin introduced the BLAK series as mid-tier, luxury sport custom product, which includes the Onyx and Eclipse models. The Davin Wire series, created in partnership with Dayton Wheel Products, launched in 2003.

Davin is a privately-held company headquartered in Providence, R.I. Its clients include Shaquille O'Neal, Master P, Benito Santiago, Terell Owens and Roy Jones, Jr.

For more information, please visit www.davinwheels.com or call 1-877-71-DAVIN.