Shelby Press Release 21 April 04

[Tom Kirkham]

Carroll Shelby International Inc. Completes First Round of Private Placement
April 21, 2004 4:19:00 PM ET


LOS ANGELES, April 21 /PRNewswire-FirstCall/ -- Carroll Shelby International, Inc. (OTC Bulletin Board: CSBI) announced today that it had completed the private placement of 1,779,448 shares of its common stock for net proceeds of over $4,000,000. Proceeds from the private placement have been earmarked for expanded production of the company's Cobra CSX4000 series and roll out of its recently announced CSX1000 Shelby AC Cobra scheduled for delivery during the 3rd quarter of 2004. In addition, funds will also be used to support the company's efforts in secondary manufacturing, Shelby branded aftermarket styling and performance parts and select strategic acquisitions.

"We are very pleased with the response from the capital markets of our private placement offering," said John Luft, the Company's President. "Investor confidence and support in the Shelby brand and the direction we are taking is evident by the success of the private placement."

About Carroll Shelby International, Inc.

Carroll Shelby International, Inc. is the parent company of Shelby Automobiles and Carroll Shelby Licensing.

Shelby Automobiles Inc. is manufacturing high performance Shelby vehicles under the guidance of the legendary Carroll Shelby and will be involved in prototype manufacturing, design and engineering projects; and plans to increase production and availability of these Shelby products through an expanded dealer network and direct sales under a license agreement with Carroll Shelby Licensing Inc. For more information, call 702/325-4851 or visit the company's web site at www.shelbyautos.com.

Carroll Shelby Licensing Inc., founded in 1988, is the exclusive holder of automotive manufacturer and entrepreneur Carroll Shelby's trademarks and vehicle design rights, which include some of the world's most famous muscle cars and high-performance vehicles, including the car that brought home to the U.S. its first and only FIA World Manufacturers Championship in 1965, the famous Shelby Cobra Daytona Coupe. It also holds trademark rights for Shelby-branded apparel, accessories and collectibles. For additional information about the company or licensing opportunities, call (310) 914-1843, or fax (310) 914-1853 or write to Carroll Shelby Licensing, Inc., 11150 West Olympic Boulevard, Suite 1050, Los Angeles, CA 90064 or visit www.carrollshelbyinternational.com or www.carrollshelby.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

© 2004 PRNewswire