BREED acquires Custom Trim Ltd., expands Steering Wheel Capabilities.

LAKELAND, Fla.--(BUSINESS WIRE)--March 17, 1997--BREED Technologies, Inc. (NYSE:BDT) announced today the acquisition of BTI Investments, Inc., a holding company which owns the Custom Trim Group of companies.

As the industry's primary supplier of leather-wrapped steering wheels, shift knobs and other original equipment components, Custom Trim will operate independently within BREED's newly established Steering Wheels and Interiors Division. The Company will further develop and maintain its cost competitive leather wrapping services, as it brings the global steering wheel market more than 3.5 million leather-wrapped steering wheels a year.

In recent months, BREED has focused heavily on streamlining its steering wheel production operations, after acquiring three worldwide manufacturers of polyurethane, wood and leather-wrapped steering wheels. The Company has largely expanded its customer base and continues to vertically integrate key processes, such as leather-wrapping, to ensure quality and reduce costs.

"BREED has taken on a new role in the global automotive industry," said Johnnie C. Breed, President and Chief Operating Officer. "The acquisition of Custom Trim solidifies our position as the world's largest manufacturer of steering wheels and is a key part of our overall strategy to provide the most complete line of full occupant safety systems. Most importantly, this acquisition will allow BREED to consolidate and reduce overall costs of shift knob and steering wheel leather-wrapping operations while supporting Custom Trim's ability to supply the world market with its renowned leather-wrapping services."

Custom Trim brings an additional 3000 employees and seven manufacturing, sales and engineering facilities to the BREED Technologies family of companies. With a broad base of customers, including Petri AG, Chrysler, Magna, JCI, Lear, Textron and UTA, Custom Trim had revenues of US $108 million for the fiscal year ended July 31, 1996.

Through strategic acquisitions in the last year, BREED has established focused product divisions in the areas of automotive electronics/sensors, steering wheels & interiors and safety restraints. Headquartered in Lakeland, Fla., BREED is a full automotive occupant safety system supplier providing the global automotive market with research and development, engineering, testing and manufacturing capabilities in 55 global facilities. Information about BREED and its products is available on the Internet at http://www.breedtech.com . -0-

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CONTACT: BREED Technologies Inc.

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