VC Visteon Corporation

Amerigon Subsidiary BSST Announces Definitive Agreement to Develop Array of Climate Control Automotive Products DEARBORN, Mich., Nov. 3 /PRNewswire-FirstCall/ -- Amerigon Incorporated (NASDAQ:ARGN) today announced that its subsidiary, BSST LLC, signed a definitive long-term agreement with Visteon Corporation (NYSE:VC) to develop an array of heating and cooling products for the automotive industry featuring BSST's proprietary, efficient and environmentally friendly advanced thermoelectric device (TED) technology. Visteon is one of the world's leading automotive Tier I suppliers. The agreement formalizes the memorandum of understanding Amerigon announced with Visteon in June 2003, said Amerigon Chairman Oscar (Bud) Marx. It also closely follows the Company's announcement in September that Carrier Corporation, the nation's largest manufacturer of heating, ventilation and air-conditioning (HVAC) systems for residential and commercial applications, had entered into a joint development program with BSST involving TED technology, Marx added. "This Visteon agreement is another important milestone for BSST and Amerigon," Marx said. "The fact that Visteon has agreed to move forward affirms the potential our proprietary TED technology holds for heating and cooling in the automotive industry." BSST President Lon E. Bell, Ph.D., "The challenge for broader application of thermoelectrics has always been to make them more efficient and cost effective, and we have made significant progress towards those ends. The fact that two of the leaders in their respective fields share our view of the future of our TED technology underscores its importance. We are confident that, as we continue to make thermoelectric systems more efficient, we will be able to develop, with our customers, important commercial applications for our solid state heating and cooling technology." Amerigon, through its BSST subsidiary, is a world leader in developing efficient TED technology, which is the basis of its proprietary Climate Control Seat(TM) (CCS(TM)) heated and cooled seat system featured in selected automobiles manufactured by Ford, General Motors, Nissan, Toyota and Hyundai. Amerigon is one of the world's largest users of thermoelectric devices for its CCS products. About Amerigon Amerigon designs, develops and markets its proprietary Climate Control Seat(TM) (CCS(TM)) products for sale to automotive and truck original equipment manufacturers (OEMs). CCS enhances individual driver and passenger comfort in virtually all climatic conditions by providing cooling and heating to seat occupants, as desired, through an active thermoelectric-based temperature management system. Amerigon's subsidiary, BSST, is developing products using its proprietary, high-efficiency thermoelectric devices (TED). It has development contracts with industry leading customers to expand the market for TED-based automotive and non-automotive products. Amerigon maintains sales and technical support centers in Los Angeles, Detroit, Japan, Germany and England. Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company's actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, necessary additional financing may be unavailable, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to the Amerigon's Securities and Exchange Commission filings and reports, including but not limited to its Form 10-QSB for the period ending June 30, 2004 and its Form 10-K for the year ended December 31, 2003. For more information, please contact: Investors, Jill Bertotti, , or Media, Len Hall, , both of Allen & Caron Inc, +1-949-474-4300, for Amerigon. DATASOURCE: Amerigon Incorporated CONTACT: Investors, Jill Bertotti, , or Media, Len Hall, , both of Allen & Caron Inc, +1-949-474-4300, for Amerigon

Copyright