Announcement

[CRW_Mgmt]

Press Release (Arlington, Texas) August 7, 2008

In response to recent post and comments on Hurricane Motorsports web site and other sites on the internet CRW Management LP has made the following statement:

In recent days many comments and postings have been made that were misread as statements from myself (Ray White) or my son (Chris White). When in fact we have not made any press releases or statements as to the operation of Hurricane Motorsports or its move to Texas. We did in fact purchase the complete operation of Hurricane Motorsports from Michael Arps and Richard Burroughs in the month of June 2008. At that time Mr. Jay Nordstrom assisted us in the purchase and preliminary move steps. I did offer Mr. Nordstrom a position as Technical advisor and Consultant with the new operation.

The press release that was posted did have some information that I had stated in my rough draft. However after I left the office and was on the road to handle business for one of my other companies the Press release was modified with information that was not approved by myself or my son. The Corporation that was formed in the State of Texas (Hurricane Motorsports LLC) shows myself as President and Chris as Vice-President. Some statements were posted and were correct as to how we had planned on moving forward with the company, others were given a different view that I had not planned on discussing in any public format. My philosophy in business is that what is discussed behind closed doors is company business and only when all parties involved are comfortable with the product do you make announcements.

Now let me address a few of the items which have been posted, talked about and misunderstood in recent days:
It has been stated that there are multiple owners in the new Hurricane Motorsports Company. When in fact CRW Management has paid all cost for the purchase, moving expense and warranty repairs to cars that were delivered at time of sale for invoices presented to our company.

Another posted comment states that we have been ignoring the customer request and not sending out a press release shows that we don’t care about the Cobra family or our companies future. First of all we have been working day and night to get all assets of the company moved from Lee’s Summit, MO to Arlington, Texas. These processes have been completed and as I prepare this statement have company staff working on installation of and maintenance of all equipment, molds and jigs to begin production of the first Hurricane Motorsports –Texas Chassis and Body.

As for the statement that not making a post or press release is not caring for our customer base and future business. With my 25 plus years of business management I do understand that the customer is the most important part of a successful business. I also understand and believe that when you make public statements or press releases you must be ready to provide the products or service when you say you will. In attempting to be sure we were ready to support the dates and time lines for such announcements we have chosen to wait to make a public statement as to when production will begin.

As for not responding to a customer’s post for information about our products and services. Chris and I don’t feel it should be public record as to what was discussed about someone’s order or request. We have a policy of making personal contact by phone or email direct to the customer or future buyers of our products.
And last and very important to our future: Hurricane Motorsports LLC has not placed any contracts on property in the Dallas. I did have a contract for one property with one of my other companies that I am involved with that I choose to not close on due to information provided from outside sources and public records. As stated before I am involved in several business and do purchase properties for them. I am in fact going to be closing on one such property this month.

As you can see on our website we have in fact obtained a building and offices are set up to care for our customers needs and request.

The last comment that needs to be addressed is the statement that Two (2) Board of Directors have left the operation in the last week. Since Chris and I are the only listed officers of the corporation I find it hard to have Board members walking out on us.

Should anyone have further question or concerns please feel free to contact myself or Chris by one of the following methods.

Ray White
Office – 817-466-2380
Cell – 817-789-9452
Email – rwhite@hurricane-motorsports.com

Chris White
Office – 817-466-2380
Cell- 817-874-6379
Email – cwhite@hurricane-motorsports.com