CEC IS AWARDED NEARLY ONE MILLION DOLLARS BY LORINSER TO SETTLE LEGAL CLAIMS

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Claus Ettensberger Corporation announced the settlement of its legal claims against German automotive tuning company Sport-Service Lorinser (Lorinser), affiliates Lorinser, Inc, and Lorinser North America LLC, as well as its owner Manfred Lorinser for an amount of nearly one million dollars.

The lawsuit arose after Lorinser, without notice, terminated CEC as its exclusive North American importer and distributor after 15 years. Additionally, Lorinser hired former and at the time, current, key CEC employees in order to sell directly to wholesale and retail consumers in North America. The lawsuit alleged further claims for, among other matters, breach of contract, misappropriation of trade secrets, interference with business and unfair business practices.

Lorinser's settlement payment to CEC resolves CEC's lawsuit in its entirety. The settlement allows Lorinser and the other defendants to avoid trial on CEC's claims, which was set to take place on October 13, 2006 in the Los Angeles Superior Court. CEC President Claus Ettensberger commented, "Lorinser's termination turned-out to be a blessing in disguise; it has paved the way for our current partnership with BRABUS, the world's largest Mercedes-Benz tuner, and has resulted in an additional CEC tuning center in Newport Beach."