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Miles Electric Vehicles is continuing to beef up its executive lineup, this time naming a new Co-Chairman alongside founder Miles Rubin. Steven "Mac" Heller has been on the board since last November. Heller was formerly head of mergers and acquisitions as well as the investment banking group at Goldman Sachs. Heller's financial experience is expected to help Miles as it moves to launch production of its highway-speed electric sedan next year.

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[Source: Miles EV]


PRESS RELEASE:

Mac Heller Named Co-Chairman of Miles Electric Vehicles Board of Directors

Former Goldman Sachs Co-Head of Investment Banking Backs EV Manufacturer

Santa Monica, Calif., March 31, 2009 – Steven "Mac" Heller has been named Co-Chairman of the Board of Directors of Miles Electric Vehicles, a California-based all-electric vehicle manufacturer. Heller joins Miles Rubin, Founder, as Co-Chairman. With his extensive background in the financial services industry and specific experience in investment banking, Heller's leadership will be invaluable to the company.

"We are very pleased that Mac has decided to become even more involved in the company's development as Co-Chairman of our dynamic Board of Directors," said CEO, Kevin Czinger. "With over 20 years of investment banking experience, Mac's deep financial knowledge will be particularly valuable to Miles Electric Vehicles as it prepares to launch its full performance, all-electric sedan in 2010," he said.

Heller, a graduate of Harvard College and Harvard Law School, began his career at Goldman Sachs in 1982 and advanced through the executive ranks to become the head of Goldman's global mergers and acquisitions business in 1996. In 1999, Heller was also named co-head of Goldman Sachs' investment banking division where he played a lead role in growing the business to its global stature until his retirement in 2002. Since his retirement, Heller has been a private investor and has been active in not-for-profit roles for Harvard University and other organizations.

Miles Electric Vehicles Board members include Miles Rubin, Co-Chairman and Founder; Mac Heller, Co-Chairman; Kevin Czinger, CEO; Alan Chesick, Legal Counsel; John Bryson, former CEO and President of Edison International; and Daniel Weiss, Managing Partner at Angeleno Group.

ABOUT MILES ELECTRIC VEHICLES:

Headquartered in Santa Monica, Calif., Miles Electric Vehicles expects to be the first to market with a cost effective, safe and practical, all-electric full performance sedan. MILES brands, designs, markets and distributes electric vehicles utilizing a strategy which, by outsourcing component development and manufacturing to a key set of Chinese and Western partners, allows MILES to develop vehicles rapidly in a flexible manner – avoiding the traditionally capital-intensive nature of the automobile business. The company is currently successfully marketing a line of low speed, all-electric cars and trucks, which combine the best of US electric motor and controller technology with China's advanced battery and vehicle manufacturing capabilities. To date the company has built a prestigious fleet customer base that includes the City of Chicago, Stanford University, NASA, UC Berkeley, Wal-Mart, UCLA, Cal State Polytechnic University, Lockheed Martin and others.