BorgWarner Reduces 2008 Earnings Guidance To Reflect Global Auto Industry Free-Fall, Warranty Related Charge

AUBURN HILLS, Mich., Dec. 11 /PRNewswire-FirstCall/ — BorgWarner (NYSE:
BWA) today reduced its earnings guidance for 2008 to a range of $1.85 to $1.95
per share before special items. Guidance was reduced to reflect rapidly
deteriorating conditions in the auto industry that continue in every
geographic region of the world. Previous guidance was $2.25 to $2.35 before
special items.

    Special items will include:
    -- Previously announced nine-month year-to-date charges: goodwill
       adjustment of $(1.27) related to the BERU acquisition, BERU purchase
       accounting adjustment of ($0.04), tax adjustment of $(0.12),
       third-quarter restructuring charge of $(0.16), and a charge related to
       the outcome of retiree healthcare benefits litigation of $(0.03);
    -- Fourth quarter 2008 restructuring charges which are currently being
       quantified;
    -- And a fourth quarter 2008 charge of approximately $0.23 per share due
       to a warranty issue associated with the company's dual-clutch
       transmission products sold in Europe, limited to mid-2007 through May
       2008 production.

“The downward spiral of the auto industry continues to accelerate across
the globe,” said Timothy Manganello, Chairman and CEO of BorgWarner. “The
crisis is not solely a North American automotive industry issue, nor about
perceptions of domestic automakers not having the right products for the
market. Rather, this is a situation where consumers in every geographic
region of the world have become paralyzed by the global financial and economic
crisis. We are actively adjusting our cost structure, but are struggling to
respond fast enough to the daily stream of new customer information on plant
closings, extended holiday shutdowns and production schedule reductions.”

In response, the company will have reduced 2008 global employee levels by
approximately 2,900 people or 17% of its workforce by year-end. Most North
American operations will shut down for extended holiday periods starting the
week of December 15, 2008, and will re-open at various times in January,
depending on customer schedules. In Europe, in addition to workforce
reductions and extended holiday shutdown periods similar to those in North
America, the company has gone to four-day work weeks in many facilities for an
indefinite period of time. The company plans to close a Drivetrain facility
in the United Kingdom when its current four-wheel-drive product ends
production there in 2010 and is evaluating other smaller product lines and
manufacturing facilities for longer-term strategic importance and viability.

“The uncertainty of the financial and economic markets around the world
has made this one of the most difficult times in the history of the auto
industry. This uncertainty has severely impacted our ability to plan for and
manage our day-to-day operations,” said Mr. Manganello. “The earliest we
expect to see any clarity in this situation is the end of the first quarter of
2009. We continue to have a strong balance sheet and ample liquidity. The
fundamentals of our business remain strong with growth driven by a technology
focus on fuel economy and emissions reductions.”

Auburn Hills, Michigan-based BorgWarner Inc. (NYSE: BWA) is a product
leader in highly engineered components and systems for vehicle powertrain
applications worldwide. The FORTUNE 500 company operates manufacturing and
technical facilities in 64 locations in 17 countries. Customers include
VW/Audi, Ford, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler,
Chrysler, Fiat, BMW, Honda, John Deere, PSA, and MAN. The Internet address for
BorgWarner is: http://www.borgwarner.com.

Statements contained in this news release may contain forward-looking
statements as contemplated by the 1995 Private Securities Litigation Reform
Act that are based on management’s current expectations, estimates and
projections. Words such as “outlook”, “expects,” “anticipates,” “intends,”
“plans,” “believes,” “estimates,” variations of such words and similar
expressions are intended to identify such forward-looking statements.
Forward-looking statements are subject to risks and uncertainties, many of
which are difficult to predict and generally beyond our control, that could
cause actual results to differ materially from those expressed, projected or
implied in or by the forward-looking statements. Such risks and uncertainties
include: fluctuations in domestic or foreign vehicle production, the continued
use of outside suppliers, fluctuations in demand for vehicles containing our
products, changes in general economic conditions, and other risks detailed in
our filings with the Securities and Exchange Commission, including the Risk
Factors, identified in our most recently filed Annual Report on Form 10-K. We
do not undertake any obligation to update any forward-looking statements.

Impact of Big Three Automakers on U.S. Job Market Is Grossly Overstated, Says Boston College Researcher

CHESTNUT HILL, Mass., Dec. 11 /PRNewswire-USNewswire/ — The national employment impact of the big three auto manufacturers has been significantly overstated, according to a socioeconomist at Boston College.

Frequently-cited figures imply that about 1 in 10 jobs — or 10 percent of the full-time civilian labor force — will be lost if the big three go into bankruptcy. This indeed would be a sobering statistic: at the end of November 2008 the Bureau of Labor Statistics indicates there were 144.2 million employed persons in the civilian labor force: 26.2 million were part time workers, leaving 118.0 million full-time workers. A loss of 10 percent, therefore, would eliminate some 12 million full-time jobs.

This implication is inappropriate, says John J. Havens, senior research associate and senior associate director of the Center on Wealth and Philanthropy at Boston College, unless one counts every job that is associated, however remotely, with automobile manufacturing, even if that association is limited to just a few hours of work per year.

In fact, the maximum impact if the entire automobile industry in the US were to shut down completely and permanently would be 190,000 jobs in auto manufacturing and 540,000 other jobs throughout the economy. “And only about 60 percent of this number would be affected were the big three to shut down,” he said.

“When jobs are calculated in terms of the number of hours tied to automobile manufacturing,” said Havens, “and the hours are expressed in terms of ‘full-time jobs,’ less than 0.8 percent of the labor force will be affected — substantially less, because competitors or new startups would pick up many jobs if the big three went out of business.”

Citing figures from the Center for Automotive Research, Havens notes that only 190,000 jobs (not full-time equivalents, as used in the other calculations) are located in the entire U.S. automobile manufacturing industry. Suppliers entail another 777,000 jobs, he said, but what is frequently overlooked is that they supply other industries as well.

Auto dealerships constitute the greatest number of jobs within this industry, he said; some 1.235 million total, with about a million jobs in sales alone, most of which are part-time, each amounting to an average of less than 15 hours per week.

“For many sales people, these are weekend, part-time jobs to supplement full-time employment,” added Havens. “Moreover, many dealerships have diversified their product line beyond the big three models, meaning they have other products to fall back on.”

Data from the Bureau of Economic Analysis, he said, tells us that the employment multiplier for the automobile industry varies depending on the type of job. The multiplier indicates how many total jobs in the economy would be lost due to a job lost in any given industry.

“On average, the multiplier for any given job in the automobile industry rarely rises above 3. But for the sake of this argument, let us assume it is 4,” he said. “Even if all 190,000 jobs in the automobile industry were lost, the overall economy would see a decrease of 760,000 jobs with approximately 540,000 of those outside the industry.

“This maximum estimate amounts to 0.5 percent of the labor force,” he said, “not the 10 percent some are claiming. But even this smaller number involves hundreds of thousands of jobs and hundreds of thousands of households.

“The loss of U.S. jobs especially in this quantity is cause for concern,” said Havens, who stresses that the analysis is not intended to minimize the gravity of the economic situation facing the nation or that of individuals facing unemployment.

“It is always important to take a hard look at numbers being reported,” he said, “if only to serve as a benchmark for assessing the effectiveness of public policy.”

John J. Havens received his training in mathematics, economics, and physics at Yale University and his graduate training in economics at the Massachusetts Institute of Technology. He began his research career as an engineer and mathematician at the Metals Research Laboratories of Olin Matheison Corporation, and has since conducted research in urban transportation for the Transportation Research Board of the National Academy of Sciences; in applied policy and data analysis for the American Institute for Research; and for the past 17 years in economic, public policy, and philanthropy analysis for the Boston College Center on Wealth and Philanthropy, (previously known as the Social Welfare Research Institute).

Southeast Michigan Chrysler Jeep Superstore Dealers ‘Go All In’ With More Than 5,100 New Vehicles in Show of Resounding Support for Chrysler LLC

DETROIT, Dec. 11 /PRNewswire/ — Standing strong in the Motor City is the
theme taken on by Southeast Michigan’s Chrysler Jeep Superstores in its
no-holds-barred support of Chrysler LLC and the Detroit automakers. The
Chrysler Jeep Superstores have ordered more than 5,100 new vehicles since
October in a resounding message of confidence and support in Chrysler LLC and
the cars they make.

The Chrysler Jeep Superstores Advertising Association is a group of 39
independently owned Chrysler Jeep Superstores throughout metro Detroit, from
Monroe to Fowlerville and from Clinton to Port Huron. As a group, the
Chrysler Jeep Superstores represent one of the largest dealer associations in
the nation.

“Detroit is a city known for its strength and resilience. We’re standing
up and standing strong by Chrysler LLC,” said Chrysler Jeep Superstores
Advertising Association President James Schebil. “We have confidence in
Detroit’s automakers, and Chrysler LLC in particular.”

“We’re going all in here,” Schebil said. “We, as an industry, create
American jobs. We also create some incredible vehicles. We think our current
customers know that, and that more people will rediscover what we have to
offer in the near term.”

Chrysler LLC makes vehicles for the Chrysler, Jeep and Dodge brands that
are bought and sold by more than 3,300 dealers nationwide. Chrysler dealers
employ more than 140,000 people.

About Chrysler Jeep Superstores: The Chrysler Jeep Superstores Advertising
Association is a group of 39 independently owned Chrysler Jeep Superstores in
Southeast Michigan from Monroe to Fowlerville and from Clinton to Port Huron.
To find out more, visit: www.chryslerjeepsuperstores.com.

Cooper Tire & Rubber Company Announces Tentative Agreement with Texarkana Local 752L

FINDLAY, Ohio, Dec. 11 /PRNewswire-FirstCall/ — Cooper Tire & Rubber
Company (NYSE: CTB) today announced that a new tentative agreement has been
reached between Cooper Tire and the United Steelworkers of America Local 752L,
representing workers at the Texarkana, Ark. facility.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO )

Commenting on the tentative agreement, John Bodart, Acting Vice President,
North American Tire Operations, said, “We were pleased at the cooperation with
our union leadership in coming to the table early to help put Cooper Tire in a
more competitive position. This new contract will be factored into the network
capacity analysis now being done for all of our manufacturing plants in North
America.”

United Steel Workers Local 752L are currently working under an agreement
which would not have expired until 2010.

David Boone, Local 752L President, was also satisfied that a tentative
agreement could be reached, “We stepped up to demonstrate that Texarkana fully
understands the challenging situation that Cooper Tire is in and to show that
we have the ability to make changes necessary to make sure that our plant is
as competitive as possible when all of the plants are evaluated.”

An informational meeting for members will take place Dec. 12 at the Four
States Fairgrounds, with a vote taken at the Union Hall on Dec. 13.

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company is a global company that specializes in the
design, manufacture, marketing and sales of passenger car, light truck, medium
truck tires and subsidiaries that specialize in motorcycle and racing tires.
With headquarters in Findlay, Ohio, Cooper Tire has manufacturing, sales,
distribution, technical and design facilities within its family of companies
located in 10 countries around the world. For more information, visit Cooper
Tire’s web site at: www.coopertire.com.

Federal-Mogul Appoints Alston German, Vice President and Chief Information Officer

SOUTHFIELD, Mich., Dec. 11 /PRNewswire-FirstCall/ — Federal-Mogul
Corporation (Nasdaq: FDML) President and Chief Executive Officer Jose Maria
Alapont today announced the appointment of Alston German to the position of
vice president and chief information officer and a member of the Federal-Mogul
Strategy Board. German will report directly to Alapont and will be located in
Southfield, Michigan.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081002/FEDERALMOGULLOGO )

“Alston’s international experience in information systems and the
automotive industry makes him an excellent choice to lead the information
services team to support the company in achieving its sustainable global
profitable growth strategy,” said Alapont.

German joined Federal-Mogul in 1994 as a senior information systems (IS)
consultant. Since then, he has held positions of increasing responsibility,
including valve train and transmission IS director, and then business unit IS
director, while also corporate IS director, Asia Pacific region. Most
recently, he was IS director, global SAP, where he led the implementation of
SAP across Federal-Mogul’s worldwide operations. Prior to joining
Federal-Mogul, German progressed through various positions, including
information technology manager, powertrain division, with a United
Kingdom-based automotive supplier.

German earned a higher national diploma in mechanical engineering from the
University of Central England, United Kingdom, and a post-graduate diploma in
management studies from the University of Wolverhampton, United Kingdom.

About Federal-Mogul

Federal-Mogul Corporation is a leading global supplier of powertrain and
safety technologies, serving the world’s foremost original equipment
manufacturers of automotive, light commercial, heavy-duty, agricultural,
marine, rail, off-road and industrial vehicles, as well as the worldwide
aftermarket. The company’s leading technology and innovation, lean
manufacturing expertise, as well as marketing and distribution deliver
world-class products, brands and services with quality excellence at a
competitive cost. Federal-Mogul is focused on its sustainable global
profitable growth strategy, creating value and satisfaction for its customers,
shareholders and employees. Federal-Mogul was founded in Detroit in 1899.
The company is headquartered in Southfield, Michigan, and employs nearly
50,000 people in 35 countries.

Federal-Mogul’s aftermarket products are sold under a variety of brands,
including but not limited to, AE(R) engine products, ANCO(R) wipers,
Champion(R) spark plugs and wipers, Fel-Pro(R) gaskets, Ferodo(R) brake pads,
Glyco(R) bearings, Goetze(R) piston rings, Moog(R) chassis products,
National(R) wheel-end components, Nural(R) pistons, Payen(R) gaskets, Sealed
Power(R) engine products and Wagner(R) brake and lighting products. Visit the
company’s Web site at www.federalmogul.com .

CONTACT: Paula Silver – 248-354-4530

* Please note accent over ‘e’ in Jose Maria Alapont

LG Chem and STMicroelectronics Drive to Improve Battery Technologies for Hybrid Electric Vehicles

GENEVA, Dec. 11 /PRNewswire-FirstCall/ — STMicroelectronics (NYSE: STM), one of the world’s leading semiconductor suppliers, and LG Chem, the largest Korean chemical company, have unveiled details of a new automotive battery pack that significantly extends the potential of electric and hybrid electric vehicles (HEVs), reducing both petrol consumption and CO2 emissions. The new battery pack combines LG Chem’s lithium ion (Li-ion) battery technology and with a state-of-the-art battery management chip manufactured by ST.

Hybrid electric vehicles, which combine a conventional petrol-fueled Internal Combustion Engine with an electric-motor powered by a rechargeable battery, are becoming an increasingly important part of the automotive market because they can deliver greater fuel efficiency and reduce atmospheric pollution. Typically, today’s HEVs use batteries based on Nickel Metal Hydride (NiMH) technology, which use simpler control circuits but are heavier and operate at lower voltages.

Li-ion batteries are widely used in portable consumer electronic equipment because they offer one of the best energy-to-weight ratios — more than twice that of NiMH batteries — with a very low self-discharge while not in use. However, their use in higher power applications has so far been limited because the charge/discharge cycle of Li-ion batteries must be carefully managed to protect the batteries from abuse condition. For this reason, Li-ion batteries must be combined with sophisticated and highly reliable electronic battery-management circuits in high-power applications.

The new Li-ion battery pack from LG Chem manages the charge/discharge cycle by incorporating an advanced battery-management chip, manufactured by ST, which enables safe and long-term reliability of Li-ion battery technology at affordable cost, even in applications as demanding as automotive powertrain systems.

“Accurate and reliable control of the battery charging and discharging cycles makes Li-ion technology applications the established choice for low-power consumer applications as well as a leading contender for future high-power,” said Ph.D. MH Kim, the vice president of the Battery Research Institute of LG Chem. “As the world’s number one supplier of power-management devices and one of the top suppliers of silicon chips to the automotive industry, ST was the natural choice to develop the silicon side of the battery pack to complement LG Chem’s advanced Li-ion battery technology.”

ST’s battery-management chip is manufactured with the Company’s proprietary BCD (Bipolar-CMOS-DMOS) technology, which combines digital logic circuits, precise analog measurement circuits and power-handling transistors in one silicon chip. A Battery Management System with these chips accurately controls the charging and discharging cycles of the battery to ensure safe operation and long battery life. Each chip can handle up to ten Li-ion cells and also includes an interface for communicating with other ST battery-management chips in a system. With this communication capability, as many as 32 battery-management chips can be connected in cascade to manage batteries that deliver up to 1600V to the electric motors.

BCD, often called smart power, is a semiconductor technology that allows ST to manufacture three fundamental components of electronic circuits on a single low-cost chip — digital logic for high-speed computation, analog circuits for high-precision measurement and control, and power transistors that manage the flow of high electric currents. ST pioneered the technology and has led the market ever since, with its smart-power products used in high volume applications ranging from printers and fax machines to hard disk drives and the devices that manage the movement of windows and mirrors in cars.

“Reducing the consumption of fossil fuels and carbon-dioxide emissions is an integral part of ST’s product development strategy,” said Marco Monti, General Manager, Power Train and Safety Division, Automotive Product Group, STMicroelectronics. “We are proud that we’ve been able to adapt our power management and analog expertise with LG Chem to create a new solution that will enable Li-ion batteries to address increasingly higher power applications, from e-bikes to the most demanding public transport vehicles.”

The LG Chem/ST solution reduces the cost and weight and increases the reliability of the Li-ion battery pack, enabling Li-ion technology to address new applications from electric scooters and bicycles to heavy trucks

About STMicroelectronics

STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today’s convergence markets. The Company’s shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2007, the Company’s net revenues were $10 billion. Further information on ST can be found at www.st.com.

Let’s Jump Start the Economy …

    SANFORD, Fla., Dec. 11 /PRNewswire-USNewswire/ --

    The following letter is being issued by Jeno F. Paulucci, Entrepreneur:

    An Open Letter to:
    President George W. Bush
    President-elect Barack Obama
    Speaker of the House Nancy Pelosi
    Majority Leader Harry Reid
    Members of Congress

    Let's Jump Start the Economy ...

… while we respect the fact that President-elect Obama is planning to
develop two million plus new jobs through a program of infrastructure work …
roads, bridges, airport and so forth. However, results will not be immediate.
Drafting and engineering studies will take six months to a year. This does
not mean immediate jobs.

Secretary Paulson and Chairman Bernake are not getting much result with
their trillion dollar program to alleviate the credit crunch … so what is
left?

We need to jump start the economy by getting people to think more
optimistically by giving the consuming public opportunity to buy and to buy
American-made goods. We need to get jobs started again in manufacturing
plants, car dealers and in the housing market.

Therefore, we propose the following:

Years ago, during the Depression on the Iron Range of Northeastern
Minnesota, when the cities and towns went broke, they issued scrip to their
workers. The scrip was like a currency which could be used the same as
dollars and then eventually the cities and towns redeemed them from those who
accepted the scrip.

That’s a little different from what I am talking about today. If we
really want to jump start the economy, I would recommend bringing back scrip,
where the U S Government would issue, let’s say up to $500 billion worth of
scrip, which would go to those who make less than $250,000 per year, but the
scrip would only be good for purchasing American made products and services
… not to pay debt … and the scrip would have an expiration date on it
of about six months.

The person receiving the scrip could only buy American made goods and
would have to spend it to buy a home, to buy a car, to buy clothes or food or
other American made products.

The seller would receive the scrip for the purchase, the same as currency,
bring it to the bank, the banks would then go to the Federal Reserve Bank and
redeem it for cash.

What this accomplishes is that it forces, within a limited period of time,
the recipient of the scrip to spend it.

Then car dealers can sell cars, homes can be purchased — at least down
payments could be made with the cash that the recipient has in addition to the
scrip.

This could bring in a tax revenue — sales, income tax, fuel tax, etc., of
20% – 25% of the amount of scrip issued for federal and state governments.

This is my way of answering Professor Wright, of Harvard, when he says the
previous stimulus didn’t work and said that the people paid off debt with the
money. The scrip would not allow them to pay off debt, it would force people
to buy American made goods and services and thus jumpstart the economy.

    Let's restore consumer confidence!

    Kindest Regards,

    Jeno F. Paulucci

    JFP/cd

By way of introduction, at age 90, Jeno remains active with his
Michelina’s frozen entree company. He was selected by Ernst & Young as the
Number One Entrepreneur in the world in their 20-year history of selecting the
Entrepreneur of the Year for humanitarian activism, philanthropy and
leadership.

American Axle & Manufacturing Announces Joint Venture with JAC Group Subsidiary in China

DETROIT, Dec. 11 /PRNewswire-FirstCall/ — American Axle & Manufacturing
Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that
it has entered into an agreement, through one of its subsidiaries, to form a
joint venture with Hefei Automobile Axle Co, Ltd., (HAAC), a subsidiary of the
JAC Group (Anhui Jianghuai Automobile Group Co, Ltd). The new company, Hefei
AAM Automotive Driveline & Chassis System Co., Ltd., will manufacture and sell
rear beam axles, front axles, power transfer units (PTU), Rear Drive Modules
(RDM) and suspension modules for passenger cars, sport utility vehicles (SUVs)
and multi-purpose vehicles (MPVs) for the China market.

Each party will own 50 percent of the joint venture. Subject to
regulatory approval in China, the joint venture is expected to commence
operations in the first quarter of 2009.

The Hefei AAM manufacturing facility, situated approximately 400
kilometers west of Shanghai, is located in the state level economic
development zone of Hefei, the capital of Anhui Province, China.

“The Hefei AAM joint venture is AAM’s second manufacturing operation in
the fast-growing China market. The new products to be manufactured in this
facility, as well as the new customers to be served by this joint venture,
support our long-term strategic goals of expanding and diversifying AAM’s
product portfolio, customer base and global manufacturing and sourcing
footprint,” said AAM Co-Founder, Chairman & CEO Richard E. Dauch. “AAM is
pleased to partner with the JAC Group in this important business venture and
we look forward to many years of successful cooperation.”

The new joint venture will provide systems and components for JAC
Automotive, a premier Chinese automotive OEM. The main products of JAC
Automotive include a recently launched new generation of passenger cars, SUVs,
MPVs and commercial vehicles.

AAM is a world leader in the manufacture, engineering, design and
validation of driveline and drivetrain systems and related components and
modules, chassis systems and metal-formed products for trucks, sport utility
vehicles, passenger cars and crossover utility vehicles. In addition to
locations in the United States (Michigan, New York, Ohio and Indiana), AAM
also has offices or facilities in Brazil, China, Germany, India, Japan,
Luxembourg, Mexico, Poland, South Korea, Thailand and the United Kingdom.

Certain statements contained in this press release which are not
historical facts contain forward-looking information with respect to the
Company’s plans, projections or future performance, the occurrence of which
involves risk and uncertainties that could cause the company’s actual results
or plans to differ materially from those expected by the company which include
risk factors described in the Company’s filings with the Securities and
Exchange Commission.

    For more information...
    Renee B. Rogers                          Jamie M. Little
    Manager, Corporate Communications        Director, Investor Relations
    & Media Relations                        (313) 758-4831
    (313) 758-4882                           jamie.little@aam.com
    renee.rogers@aam.com

    Or visit the AAM website at www.aam.com

Mrs. America 2009 Gets NASCAR Autographs for Prevent Child Abuse Charity

GRANDVIEW, Mo., Dec. 11 /PRNewswire/ — Maureen MacDonald of Raleigh, N.C.
was recently crowned Mrs. America 2009, and is putting that title to use in
raising donations for the Prevent Child Abuse America charitable organization.
In October, Mrs. MacDonald was given exclusive access by Speedway Children’s
Charities to the NASCAR drivers meeting at the Bank of America 500, held at
Lowe’s Motor Speedway in Charlotte, N.C. She took with her a plain white
helmet and a Sharpie marker, and was able to obtain the signatures of 42
NASCAR drivers and personalities. The now-covered helmet is being sold to the
highest bidder via an online auction at http://www.GoMotorBids.com, with all
net proceeds benefiting the Prevent Child Abuse America cause.

“Mrs. MacDonald was able to get an impressive list of autographs,” said
Russ Dickey, marketing director for GoMotorBids. “All the big drivers are on
there: Dale Earnhardt Jr., 2008 Champion Jimmie Johnson, Tony Stewart, Carl
Edwards, Jeff Gordon, plus other legendary names like Roger Penske and Bruton
Smith. It’ll be the centerpiece of any racing collection for sure.” The
auction closes on Sunday, December 14th. For more information, visit
http://www.GoMotorBids.com

Photo:

http://admin.gomotorbids.com/productimage/00705000/705016.jpg

    Contact:

    Russ J. Dickey
    Director of Marketing
    816-778-0416
    russ.dickey@gomotorbids.com

This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.

DirectView Technology Group’s Wholly Owned Subsidiary to Compete Against Major Global Brand in the Vehicle Recovery Market

BOCA RATON, Fla., Dec. 11 /PRNewswire-FirstCall/ — DirectView Technology
Group, Inc. (Pink Sheets: DVWG) a Company focused on ownership and management
of leading technology companies, is pleased to announce that the Company’s
wholly owned subsidiary, Homeland Integrated Security Systems, has launched a
campaign to compete with global leader LoJack Corp., which is traded on the
Nasdaq Stock Exchange under the symbol “LOJN”, in the stolen vehicle recovery
market. The Company has unveiled new product comparison models to LoJack for
its CT-150 and CT-450 vehicle recovery units. Homeland Integrated Security
Systems will post the comparisons on its website www.hissusa.com as part of
its new marketing and sales campaign in order to gain market share. The
company will also be making a public release with the head to head comparisons
in the near future.

The CT-150 and CT-410 can help recover stolen vehicles using a combination
of GPS and cellular platforms to track the vehicle’s location worldwide. The
Cyber Tracker units can also alert the owner if the vehicle is moving and
trigger a variety of alarms including disabling the vehicle when violating an
off-limits zone. Compared to LoJack, the Cyber Tracker units are easier to
install, maintain can be used worldwide and are more affordable. LoJack can
only be used in jurisdictions where police forces have installed LoJack
tracking technology. Cyber Trackers can be tracked from any device that has
internet access including Blackberry devices and PDA’s with internet access.

LoJack created the stolen vehicle recovery category more than 20 years ago
and has since earned a 90 percent recovery success rate. Globally, more than
250,000 LoJack-equipped stolen vehicles worth over $5 billion have been
recovered using LoJack technology. According to the most recent FBI Uniform
Crime Report, 1.1 million motor vehicles were reported stolen, resulting in
$7.4 billion in lost assets.

Roger Ralston, CEO of DirectView Technology Group, Inc. stated, “We are
confident that the Cyber Tracker is very competitive to any product on the
market. We are now offering a fresh, updated approach to vehicle recovery and
asset management. Our technology allows for individuals, police and other
agencies to easily locate vehicles and assets by simply using a cell phone,
PC, Blackberry or any internet connected device. We believe that our products
will allow end users to enter the 21st century of vehicle and asset tracking
capability. We are committed to improving shareholder value and opportunity
and we feel this is a great stride in doing just that.”

DirectView Technology Group will be hosting a nationwide teleconference
December 18, 2008. There is expected to be a high demand for the call-in lines
for this Nationwide Teleconference and space will be limited. Please call
1-866-THE-APPL(E) or go to www.DirectViewTechnologies.com today to reserve
your place and receive the information that will enable you to participate in
the conference.

About DirectView Technology Group, Inc.:

DirectView Technology Group, Inc. is a company whose focus is on ownership
and management of leading and emerging technology companies. There are
currently two companies in its portfolio.

DirectView Video Technologies, Inc., a wholly-owned subsidiary of
DirectView Technology Group, Inc., is a full-service provider of video, audio,
multipoint videoconferencing, document conferencing, data and IP
videoconferencing services to businesses and organizations in the United
States. The Company distributes award-winning videoconference products and
peripherals to organizations such as professional service firms, investment
banks, high tech companies, law firms, state and local government agencies,
investor relations firms, and other domestic and multinational companies.

Homeland Integrated Security Systems is a technology-based company that
with various technologies, which include GPS vehicle and asset tracking and
management. The Cyber Tracker technology product line has applications for
data and tracking functions across a variety of industries, utilizing CDMA,
IDEN, and GSM technologies. In addition, the use of satellite technology in
conjunction with the Cyber Tracker is under development.

Statements contained in this news release, other than those identifying
historical facts, constitute “forward-looking statements” within the meaning
of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor
provisions as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company’s future
expectations, including but not limited to revenues and earnings, technology
efficacy, strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be expressed
or implied by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.

    Contact:
    DirectView Technology Group, Inc.
    888-704-8700
    www.DirectViewTechnologies.com
    or Call
    Investor Relations
    + 1-866-THE-APPL(E)