EX-99.1 3 karts8kex991062402.txt PRESS RELEASE DATED JUNE 24, 2002 EXHIBIT 99.1 PRESS RELEASE June 24, 2002 For Immediate Release Contact: Theodore Forrest Phone: 985-419-8120 KARTS INTERNATIONAL INCORPORATED ANNOUNCES RECEIPT OF NOTICE OF SEIZURE Hammond, LA - June 24, 2002 The management of Karts International Incorporated, along with the subsidiaries Brister's Thunder Karts, Incorporated (Brister's) and USA Industries, Incorporated (USA) was served Notice of Seizure after failing to remedy the Notice of Demand served on June 10, 2002. Sheriff's sale is set for July 17, 2002 to satisfy plaintiff's demand of Two Million Five Hundred Dollars ($2,500,00.00) and also Two Million Fifty Nine Thousand One Hundred Fifty-two Dollars ($2,059,152.00) plus attorney fees, interest and all costs.