mindset. The Automobile of the Future Comes From Switzerland

Spirt Avert is disclosing the first details of the automobile currently in development at mindset. A first prototype is expected for autumn 2008.

Six months after Murat Günak was appointed CEO of mindset AG – a company set up by investment holding Spirt Avert AG to engage in the development, production and distribution of an alternative automobile concept – the design for the planned automobile has been agreed.

The rapidly rising price of oil and the widespread measures to reduce CO2 emissions in continental Europe – along with a change of values in the automobile market – attest to an urgent demand for innovative and sustainable automobile concepts.

The automobile under development at mindset is based on the zero-emission-vehicle principle and will set itself apart from the more widely-known experiments in the area of electric cars, as well as from the traditional hybrid car models.

mindset AG has committed to an ambitious project plan. Full-scale models of the exterior and interior as well as an experimental vehicle will be introduced and tested at the end of January 2008. A fully-functional prototype is to follow in the autumn of 2008. The market launch is scheduled for the second half of 2009.

The overall development is directed from the company’s headquarters in St. Niklausen, near Lucerne in Switzerland, and is supported by various international automobile suppliers. Lorenzo R. Schmid, chairman of the supervisory board of Spirt Avert AG, which is traded on the Swiss stock market (SWX) and is the sole owner of mindset AG, speaks deliberately of a “Swiss car�?.

Negotiations are currently taking place with various automobile manufacturers in Germany, France and Italy. Schmid’s declared goal is “to profit from the acute problem of overcapacity in the automobile sector�?, which “does not exclude the takeover of an established production site�?.

About mindset

The entrepreneurial goal of mindset AG, located in St. Niklausen near Lucerne in Switzerland, is the development, production and distribution of an alternative automobile concept. Mindset was founded in July 2007. Besides in-house engineers working in automobile construction, battery management and design, various external development teams have been contracted. Murat Günak is CEO of mindset AG.

About Murat Günak

Born 1957 in Istanbul, Murat Günak is CEO of mindset AG. Until 2007 he was vice-president and director of design at Volkswagen AG where he was responsible for all brands of the Wolfsburg-based automobile group. After studying at the Royal College of Art in London, Günak worked for Ford and Daimler-Benz before being appointed director of design at Peugeot/Citroen (PSA) in 1994. From 1998 to 2003 he fulfilled the same role at DaimlerChrysler where he was responsible for the Mercedes-Benz, Maybach and SLR brands.

About Spirt Avert

Spirt Avert AG, formerly Nextrom Holding, is an investment holding company listed on the Swiss stock exchange (SWX-symbol: SPA). The company acquires controlling shareholdings in privately owned enterprises (pre-IPOs) and Swiss-listed small and mid-caps. After a capital increase in 2007, Spirt Avert AG founded mindset AG of which it holds 100% of share capital. Mindset represents the main focus of its parent company’s industrial activity. Lorenzo R. Schmid is chairman of the supervisory board of Spirt Avert AG.

About Lorenzo R. Schmid

Lorenzo R. Schmid, born 1960 and a citizen of Davos, is chairman of the supervisory board of Spirt Avert AG. After training at Bank Leu in 1976 and working as a financial analyst at Zürcher Kantonalbank, the Japanese broker Nomura and the Franco-Canadian broker Lévesque Beaubien, Schmid founded CommCept AG in 1986. In 2005 CommCept took over the loss-making Nextrom group, which became Spirt Avert AG in 2006.

The Automobile. A Low-Emission and Energy-Saving concept.

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The new car by mindset is a fully-fledged automobile, which combines an electric motor and a combustion engine in a unique, dual serial-hybrid engine.

The main energy source is a lithium-ion-battery setting the standard in terms of security, performance and durability. The driver can choose between two modes of driving.

In the electro-mode the built-in electric motor is used. A fully-charged battery guarantees a cruising range of over 100 km (62 miles)*. This is more than sufficient for city traffic and daily commutes.

In the hybrid mode an optional, compact combustion engine is activated additionally, which, at a constant optimal engine speed, functions as an electricity generator for the battery charge. Thus the cruising range is increased to over 800 km (500 miles)**.

CO2 emission depends on which drive mode is used but, in any case, by far outperforms any traditional automobile. In electric mode, the mindset automobile is emission-free when driven locally***, in hybrid mode, emission increases to a maximum of 70g/km.

In order to further improve the vehicle’s ecobalance, a new and extremely efficient system for the recuperation of brake energy comes as standard. Solar energy can also be used. Based on current technologies, mindset’s automobile has, in addition, a certain emission- and cost-free mileage each day, thanks to a transparent skin made of solar cells.

* ECE combined

** motorway driving at 120 km/h (75 m/h) and a full tank of 30 litres (8 gallons)

*** When taking into account emissions through electricity generation, the total eco balance is between 1 and 55 g/km

The Design Concept. In a Class of its Own.

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The construction and architecture of mindset demonstrates the unique characteristics of a new class of automobile.

Murat Günak calls it ‘Commuter’*, a generation of vehicles, which “have been optimally adjusted to the conditions of daily traffic today and in the future, and not just for urban areas�?.

The high-profile and narrow wheels, especially developed for mindset, are an aesthetic highlight that gives the slim body superior appeal.

Lightweight construction was the primary development goal. The aluminium structure (spaceframe) in combination with composite body materials allows for a 30% reduction in weight compared to conventional construction methods.

Lorenzo R. Schmid has raised the bar high for this project: “Mindset will re-define the meaning of a quality driving experience and everyday automotive life.�? A bench seat for driver and front-passenger defines an interior profile that is continued through a customisable rear compartment.

* ‘Commuter’ was the name for luxury speed boats with an enclosed cabin, which were developed in the 1920s in order to create a more efficient and pleasant journey for mobility-conscious New Yorkers who had to commute daily between the river residencies of the Hamptons and the skyscrapers of Manhattan.

Technical data – per 07 January 2008

Main features

Body

– 2+2 Coupé

– Aerodynamic lightweight body

– Low Consumption–Zero Local Emission Vehicle

Construction

– Aluminium space frame

– Reinforced plastics body panels

Drivetrain

– Serial-Hybrid-System (Plug-In)

– Front wheel drive

– Electric engine

– Optional „Range Extender“

– Li-Ion-Battery

– Braking Energy Recuperation

Active safety

– ABS, ESP, ASR, 4 Disc brakes

Passive safety

– Side Impact Protection

– Safety cell

– Two front airbags

Main engine – electric mode

– Type: Hybrid-Synchron-Engine

– Output: ~ 70kW

– Torque: ~ 220 Nm

– Gearbox: Single Stage

Range extender – hybrid mode

– Type: V2 Internal combustion engine

– Output: ~17,5 kW

– Fuel, capacity: 95 RON petrol, ~30 litres

Size & weight

– Length, wheelbase: ~ 4200 mm, 2760 mm

– Curb weight: < 800 kg

– Curb weight with „Range Extender“: < 900 kg

– Payload: ~ 300 kg

– Wheels & tyres: 4,5J x 22, 155/60 R22

Performance

– Top speed: 140 km/h – electronic set limit

– Acceleration: 0-100 km/h: ~ 7 seconds

– Cruising range in electric mode: > 100 km (ECE combined)

– Charging time: 2 hours

– Cruising range in hybrid mode: ~ 800 km

– Combined consumption: ~ 3,8 l/100km @120 Km/h

C02 emissions

Electric mode:

– 0 g/km – local

– 1-55 g/km ecobalance, depending on power source

(ranges between 1 g/km with hydroelectric power and 55g/km with UCTE-power balance)

Hybrid mode:

– 14-70 g/km

For further information please contact:

Mr. Lorenzo Schmid, Chairman of the Board

Phone +41 41 368 98 38

lorenzo.schmid@spirtavert.ch

About Spirt Avert AG:

Spirt Avert AG is the listed entity of mindset ag

mindset is a new type of automobile that sets itself apart – both technically and aesthetically – from conventional automotive concepts. The development and marketing of the zero-local-emission-vehicle mindset constitutes the core activity of the company. The development team have at their disposal decades of experience in the design, production set-up and marketing of electric vehicles. The key personnel bring together the passion for the project and a proven ability in automotive know-how. The board of directors and the management of the two companies are broadly the same.

The market for a reliable, zero-emission-vehicle based on proven technology has been long documented and is being supported at government level. The pent-up demand from the public for a “politically-correct car” is enormous.

To change your user profile or to unsubscribe from our mailing list, please send an email to investor@spirtavert.ch. For more information about Spirt Avert AG and further press releases, please visit our website www.spirtavert.ch. For more information about mindset ag, please visit our website www.mindset.ch.

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