CEO of Lotus announces his retirement

Michael J. Kimberley, COE of Lotus Group, is retiring after being in the motor industry for over 50 years. An executive committee comprising current Group Lotus board members supported by the shareholder, Proton Holdings Bhd, will assume day-to-day control of the business until a successor is appointed.

Mike, who will turn 71 this August, has been suffering from severe back pain for a number of months and underwent surgery in late 2008 which was only partially successful. He was then advised by his doctors to retire so as not to jeopardize his long term health. Under these circumstances, the board has regretfully accepted his resignation.

Dato' Syed Zainal, Managing Director of Proton Holdings Bhd, said: "It is a great shame that Mike's health has forced his departure earlier than any of us would have liked. He has been a great asset to Lotus over four decades. Since his return in 2006, we have seen a huge turnaround in the fortunes of this great company. He leaves Lotus with our deep gratitude and our very best wishes for his retirement."

Under Mike's leadership, Lotus has produced the recently launched award-winning Lotus Evora, and has also overseen the expansion of Lotus Engineering, one of the world's most respected high-technology engineering consultancy businesses. Group Lotus now has a positive and stable platform despite the global economic downturn and is delivering against its defined growth targets in the company's strategic business plan.

Mike is confident that he leaves Lotus in great shape with a strong management team fully supported by their shareholder in Malaysia. "It'll be very hard to leave knowing that there are such exciting times ahead but I'll take with me many very happy memories. I want to extend my thanks to the company's shareholder for their unfailing support, my management team and the wonderful staff both at Hethel and at our various operational locations throughout the world. Most of all I want to thank our Lotus customers and loyal fans worldwide for their support over the years." adds Mike. Mike will leave Lotus on 17 July 2009. A short history of Mr Michael Kimberley

Michael J. Kimberley ("Mike") C.Eng., F.I. Mech. E., F.R.S.A., F.I.E.D, F.I.M.I has had a remarkable career in the motor industry over the last 56 years, working with some of the greatest engineers, innovators and leaders of the worlds motor companies.

Starting as an apprentice with Jaguar in 1953, Mike rapidly progressed to become Section Leader, Special Projects at Jaguar in 1965 leading the team which developed the Jaguar XJ13 Le Mans car, under such famous names as Jaguar founder Sir William Lyons and Jaguar race director Frank (Lofty) England.

In 1969, he joined Lotus as Manager of Continuous Engineering, with the Lotus Europa Twin Cam being one of his most notable projects. Mike rose steadily but rapidly through the Lotus ranks, joining the Board of Lotus at age 37, and becoming Managing Director of Lotus Cars in 1976 and Managing Director of Lotus Engineering by 1980, being responsible for such Lotus icons as the Esprit, Eclat and Elite.

During the 1970s and 80s, Mike had the unique experience of having worked closely with the company's founder Colin Chapman, with whom Mike set up the world class Lotus Engineering consultancy to enable Lotus to work for many other cars companies around the world.

After Colin Chapman's tragic and untimely death in 1982, Mike became C.E.O of Group Lotus plc, as well as holding board positions with a number of Lotus associated companies such as Chairman of Millbrook Proving Ground and President of Moog Systems Inc. Mike became Chairman of Group Lotus plc before leaving Lotus in 1992 to become Executive Vice President of General Motors Overseas Corporation based in South East Asia. Two years later, Mike became director of the Vector Aeromotive Corporation, and in 1994, he became President & Managing Director of Automobili Lamborghini S.p.A.

In the mid 1990s, Mike left Lamborghini and worked directly for Tommy Suharto as a board member of Timor Putra Nasional (owners of Lamborghini),and was later appointed to the Lotus Group International Limited and Group Lotus plc Boards as well as other Boards of Proton, as acting Chief Executive Officer of Group Lotus plc in May 2006. He was then confirmed as Chief Executive Officer of Group Lotus plc in September 2006.

Mike (70) is married with 3 children and 3 grand children and lives in Norwich.