GLOBAL AUTOMOTIVE SUPPLIER TO LOCATE IN LAUREL COUNTY

Governor Announces New Plant will Create more than 150 Jobs

Frankfort, Ky.-- Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong, along with officials from ABC Group Inc. of Toronto, Canada, a leading global manufacturer of automotive systems and components, today announced the company's plans to open a new 140,000 square foot manufacturing facility in the Laurel County city of London.  The company anticipates hiring up to 165 people and investing in excess of $19 million in the project.

"I am proud that a nationally and internationally known automotive product leader has chosen to locate in the Commonwealth," said Governor Fletcher.  "ABC Group will bring new job opportunities for hundreds of families in southern Kentucky and provide a real boost to the economy. This announcement underscores my administration's priority of job creation and restoring hope to families in every corner of our great Commonwealth."

The company provides a complete line of thermo-plastic systems and components to automotive original equipment manufacturers and tier 1 suppliers.  Since the group's formation in 1974, the ABC Group has grown from a single plant, operated by its three founding partners, into a worldwide organization with over 30 production facilities located in North America, South America, Europe and Asia.

"ABC Group has sought to expand our regional operations in the South for some time.  After a thorough search, we selected London, Kentucky because of its favorable economic climate, quality workforce and friendly community," said Mike Schmidt, Chief Executive Officer of ABC Group.

"Once again our community has the great fortune to welcome another outstanding company like ABC to be our corporate neighbor," said London Mayor Ken Smith.

Governor Fletcher applauded local and state economic development officials for their hard work and dedication on this project.

The ABC Group has received preliminary approval from the Kentucky Economic Development Finance Authority (KEDFA) for tax credits under the Kentucky Industrial Development Act (KIDA), an incentive program aimed at increasing manufacturing employment in the Commonwealth.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.