EXHIBIT 99.1 ------------Exhibit 99 • July 1st, 1997 • Turbodyne Technolgies Inc • Motor vehicle parts & accessories
Turbodyne Technologies Inc. ("Turbodyne") acquired Pacific Baja Light Metals Holding Inc. ("Baja") pursuant to an agreement (the "Agreement") with Baja and Baja's principal shareholders dated March 15, 1996, as amended on July 15, 1996. Under the terms of the Agreement, Baja merged with Turbodyne's wholly-owned subsidiary, Pacific Baja Acquisition Corp., to form Pacific Baja Light Metals Corp, with the result that Pacific Baja Light Metals Corp. is now a wholly-owned subsidiary of Turbodyne. Turbodyne will include the financial results of Baja on a consolidated basis effective July 2, 1996 in its financial statements for the year ended December 31, 1996.
