Carroll Shelby passes away at age 89

From AB


LEGENDARY ENTREPRENEUR CARROLL SHELBY PASSES AWAY

Dallas – May 11, 2012 – Carroll Shelby International, Inc., (OTC:
CSBI.PK) announced today that Carroll Hall Shelby, a man whose vision
for performance transformed the automobile industry, has died at age
89. Mr. Shelby passed away yesterday at Baylor Hospital in Dallas. The
cause of death was not disclosed.

Born on Jan. 11, 1923, Carroll Shelby was one of America's greatest
success stories. Championship-winning racecar driver, "flying
sergeant" wartime pilot, philanthropist, entrepreneur, car
manufacturer and racing team owner, he embodied the ingenuity,
tenacity and grit to overcome any obstacle. He is perhaps the only
person to have worked at a visible level with all three major American
automobile manufacturers.
Carroll Shelby founded Carroll Shelby International, a publicly held
corporation involved in many industries. His licensing arm has
agreements with industry giants, such as Mattel, Sony, Ford Motor
Company and Electronic Arts. His car company, Shelby American, has a
thriving parts business as well as a line of muscle cars including the
Shelby GT500 Super Snake, Shelby GT350 and Shelby GTS. The Las
Vegas-based company also manufactures a limited number of the 1960s
Shelby 289 "street," 289 FIA, 427 S/C and Daytona Coupe
Cobras.

Shelby considered his greatest achievement to be the establishment of
the Carroll Shelby Foundation™. Created in 1992 while Shelby was
waiting for a heart transplant, the charity is dedicated to providing
medical assistance for those in need, including children, educational
opportunities for young people through automotive and other training
programs and benefitting the Carroll Shelby Automotive Foundation.

Shelby remained active in the management of each of his companies and
the Foundation until his death, even though he endured both heart and
kidney transplants in the last two decades of his life.

"We are all deeply saddened, and feel a tremendous sense of loss
for Carroll's family, ourselves and the entire automotive
industry," said Joe Conway, president of Carroll Shelby
International, Inc. and board member. "There has been no one like
Carroll Shelby and never will be. However, we promised Carroll we
would carry on, and he put the team, the products and the vision in
place to do just that."

Shelby is survived by his three children Patrick, Michael and Sharon,
his sister Anne Shelby Ellison of Fort Worth and his wife Cleo.
Funeral plans are not currently available. Donations to the Carroll
Shelby Foundation are encouraged in lieu of flowers. Information about
the Carroll Shelby Foundation is available at
www.carrollshelbyfoundation.org.

About Shelby American, Inc.

Founded by legend Carroll Shelby, Shelby American manufactures and
markets performance vehicles and related products. Now a subsidiary of
Carroll Shelby International, Inc., the company manufactures authentic
continuation Cobras, including the 427 S/C, 289 FIA and 289 street car
component vehicles. The company offers the GT350, GT500 Super Snake
and GTS post-title packages for the current generation Ford Mustang.
For more information, visit www.shelbyamerican.com.

About Carroll Shelby Licensing

Automotive manufacturer and entrepreneur Carroll Shelby is one of the
most famous and successful high performance visionaries in the world,
and he has spent the last 50 years establishing and protecting his
name, trademarks and car design rights. He founded Carroll Shelby
Licensing Inc., which has the exclusive right to license the Shelby
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
more information about the company or licensing opportunities, call
(310) 914-1843, or fax (310) 538-8189 or write to Carroll Shelby
Licensing, Inc., 19021 S Figueroa St., Gardena, CA, 90248, or visit
www.carrollshelby.com, www.shelbylicensing.com or
www.carrollshelbyinternational.com.

About The Carroll Shelby Foundation

The Carroll Shelby Foundation was created by legendary racer and
automotive manufacturer Carroll Shelby. Headquartered in Gardena,
Calif., the Foundation is dedicated to providing medical assistance
for those in need, including children, educational opportunities for
young people through automotive and other training programs and
benefitting the Shelby Automotive Foundation. For more information
visit CarrollShelbyFoundation.org.

Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995

This release may contain forward-looking statements involving risks
and uncertainties that may cause actual future events or results to
differ materially and adversely from those described in the
forward-looking statements. CSI disclaims any obligation to revise or
update any forward- looking statement that may be made from time to
time by or on its behalf.
 
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