Zeewolde, The Netherlands, 29 September 2011
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Swedish Automobile N.V. (Swan), announces it has reached conditional agreement with North Street Capital, LP (NorthStreet) about the main terms of the sale of the Spyker sportscar business.

The indicative terms of the transaction envisage net proceeds to Swan of approximately EUR 32million if and when the sale would become wholly unconditional.
Since the Spyker assets arepledged to Tenaci Capital B.V. (Tenaci) the net proceeds of a sale will be used to redeem Swan's debt to Tenaci.
North Street has a long term view on the development of the Spyker brand as an ultra high-end super sportscar manufacturer and has the resources to see such development through.
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PASSION FOR HERITAGE
At the dawn of motoring, a Dutch car company was building cars and became a benchmark for their foreign counterparts. Combining technological innovation with a drive for engineering perfection and superb quality, Spyker cars won gruelling races, set speed records and became known as the most prestigious cars of their time.

In 1898, two brothers, Jacobus and Hendrik- Jan Spijker, coach builders in Amsterdam, built their first Benz-engined motor car that won them immediate acclaim for the craftsmanship of their bodywork. In the same year Spijker built the famous golden state coach, still in use today, to commemorate the forthcoming coronation of the Dutch queen, Wilhelmina.

This was the turning point in their business career: from that moment on the Spijker brothers dedicated their company entirely to the manufacture of motor cars.
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