PRESTOLITE WIRE ANNOUNCES JOINT VENTURE IN CHINA


SOUTHFIELD, MI – September 15, 2006 – Prestolite Wire Corporation and Apollo Wire & Cable (BVI) Holdings Ltd. are pleased to announce the establishment of the joint venture company Apollo Prestolite Electrical Co, Ltd. The joint venture is a 50/50 partnership between the companies. Manufacturing is scheduled to start in the fourth quarter of 2006 with production of ignition wire and ignition wire sets for the Asian markets, as well as wire and cable assemblies for the Asian and North American markets. The Joint Venture is located on the campus of the current Apollo Wire facilities in Dongguan, Guangdong Province, China and has 100,000 sq. ft. of manufacturing space.

Gregory Ulewicz, President and CEO of Prestolite Wire, says, “We are very excited about this opportunity. A top priority for Prestolite Wire is to further diversify our customer base by expanding our business with Asian customers. By engaging in a partnership with Apollo Wire & Cable, we can assure new and existing customers that we will continue to provide superior service, quality, and value. We look forward to a long and successful relationship with Apollo Wire & Cable”.

Kevin Cheng, CEO and General Manager of Apollo Wire & Cable (BVI) Holdings Co., commented, “We are delighted to partner up with the market leader Prestolite Wire. With the combined force of Prestolite’s proven success in the auto wire harnesses industry and Apollo’s expertise in the China local market and business know-how with the local government’s regulatory requirements, we have the strongest confidence that this joint venture will play a major role in supplying wire and cable for the auto industry in China”.

Prestolite Wire (www.prestolitewire.com) is a leading manufacturer of ignition wire assemblies for the OEM and aftermarket, wire and cable for automotive and industrial markets, and custom wire harness assemblies for automotive and industrial markets. Prestolite Wire has manufacturing facilities in Tifton, GA, Paragould, AR, and Nogales, Mexico. For more information, contact Mike Murphy, 248-386-4412 or mmurphy@prestolitewire.com.

Apollo Wire (www.apolloelectrical.com.cn) is a leading manufacturer of wire products, including wire harnesses, power cord and assembly products serving the OEM, ODM, and retail markets in North America and China. Their manufacturing facilities are in Dongguan, Guangdong Province, China. For more information, contact David Sun, +86-769-8886808 or davidsun@apolloelectrical.com.cn.