LEGENDARY ENTREPRENEUR CARROLL SHELBY PASSES AWAY

Carroll Shelby has passed away at the age of 89. The legendary tuner and proprietor of the famous marque that bears his name had been in the hospital for several weeks, suffering from pneumonia. Shelby addressed his fans fourteen days before his death, saying that he was resting comfortably and being taken care of by his children.

 CARROLL SHELBY PASSES AWAY

Anyone familiar in the least with automotive history is well aware of Shelby's vast vehicular exploits, so we'll just touch on them here. Carroll was a successful race car driver in the 1950s before creating his own racing team to take on the likes of Ferrari, using Ford-powered sportscar called the Cobra. Suffice it to say, Shelby and his Cobra were extremely successful. Later, Shelby's name would become synonymous with the fastest and most powerful Ford Mustang models ever created.


Shelby is survived by his three children Patrick, Michael and Sharon, his sister Anne Shelby Ellison of Fort Worth and his wife Cleo



Press Release 


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.