Carroll Shelby Licensing Asks Court to Enforce Agreement with SAAC - January 29, 2008

[rshelby]

CARROLL SHELBY LICENSING ASKS COURT TO ENFORCE TERMS OF AGREEMENT WITH ORGANIZATION FORMERLY KNOWN AS SAAC

Gardena, Calif. – January 31, 2008 – Carroll Shelby Licensing Inc., (CSL) and Carroll Hall Shelby Trust (Shelby Trust) filed a lawsuit in Los Angeles Superior Court on January 29, 2008, against the organization formerly known as the Shelby American Automobile Club (SAAC), which is owned and operated by Ken Eber and Rick Kopec. In the lawsuit, CSL and the Shelby Trust filed for Declaratory Relief, Breach of Contract and Preliminary and Permanent Injunction against the organization owned by Eber and Kopec.

As outlined in a news release dated December 7, 2007, CSL announced that it had determined not to renew its written license agreement with the organization then known as SAAC. That decision was based, among other business considerations, on a continued disregard for the license agreement requirements. The annual, year-to-year agreement was personally signed by Eber and Kopec on behalf of their club in 1999.

In light of the organization’s repeated claims that the group did not recognize and had no intention of recognizing the termination of the licensing agreement and that it planned to continue the unauthorized use of trademarks owned by the Shelby Trust and licensed exclusively by CSL. Officials with the Shelby Trust and CSL had no other recourse than to file the suit. In their filing, CSL and the Shelby Trust seek a declaration from the court that will compel the enforcement of the terms of the licensing agreement both before and after its termination.

About Carroll Shelby Licensing, Inc.
Automotive manufacturer and entrepreneur Carroll Shelby is one of the most famous and successful high performance visionaries in the world. In 1998, he founded Carroll Shelby Licensing Inc., which is the exclusive holder of trademarks and vehicle design rights for some of the most famous muscle cars and high-performance vehicles. CSL 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 visit www.shelbylicensing.com.

[DeLa1Rob]

Only fair since SAAC filed suit.

robin