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VECTOR AEROMOTIVE CORP. ANNOUNCES FUNDING COMMITMENT

    WILMINGTON, Calif., Sept. 15 /PRNewswire/ -- The Vector Aeromotive Corp.'s (NASDAQ: VCAR) board of directors today received confirmation of a $1 million cash commitment to provide interim funding for the luxury sports car maker.
    "When this funding is added to the company's existing cash assets, Vector will begin to implement the board's business plan," said John Pope, a Vector director.
    The financial arrangements came today as a result of the board of directors' successful confirmation of the termination of its former president Gerald A. Wiegert by a Los Angeles Superior Court on Tuesday, Sept. 14, 1993.
    Today, for the first time since March of 1993, the board members gained unlimited access to the Vector headquarters and manufacturing facilities, as a result of the court ruling.
    According to Pope, additional announcements will be forthcoming relative to the company's restart of automobile production and future product plans.
    Vector Aeromotive Corp. is publicly traded and is located in Wilmington near the international Port of Los Angeles.
    -0-             09/15/93
    CONTACT:  Robert Braner or John Pope of Vector Aeromotive, 310-522-5500
    (VCAR) CO:  VECTOR AEROMOTIVE CORP. IN:  AUT ST:  CA


-- LA032 -- X271 09/15/93
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Publication:PR Newswire
Date:Sep 15, 1993
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