ROBERT ELLIN 1997 PROFIT SHARING PLAN

                                      Exhibit 1

     The Undersigned agree that this Amendment No. 2 to Schedule 13D with
respect to the Common Stock, par value $.01 per share, of Forward Industries,
Inc., to which this agreement is attached and any amendments thereto are filed
on behalf of them.

     This agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original and all of which together shall constitute one
instrument.

Dated:  December 14, 1998

                                              /s/ Xxxxxx X. Xxxxx
                                             -----------------------------------
                                             Xxxxxx X. Xxxxx


                                             XXXXXX XXXXX 1997 FAMILY TRUST


                                             By: /s/ Xxxxxx Xxxxx, Trustee
                                                --------------------------------
                                                Xxxxxx Xxxxx, Trustee

                                             ATLANTIS EQUITIES, INC.,

                                   
                                             By: /s/ Xxxxxx X. Xxxxx
                                                --------------------------------
                                                Xxxxxx X. Xxxxx, President


                                             XXXXXX XXXXX 1997 PROFIT SHARING
                                             PLAN


                                             By: /s/ Xxxxxx X. Xxxxx
                                                --------------------------------
                                                Xxxxxx X. Xxxxx, Trustee


                                                 /s/ Xxxxx X. Xxxxx
                                                --------------------------------
                                                Xxxxx X. Xxxxx


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