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Harman Has Strong Quarter, Bows New Branding Campaign

Stamford, Conn. – Harman International launched a major
marketing campaign and reported strong quarterly results today.

Harman will tell the public its 15 consumer, professional and
automotive infotainment brands all belong to a single company with more than $3
billion in annual revenues.

To promote its house-of-brands strategy, Harman placed full-page
ads in today’s Financial Times, The New York Times and Wall Street Journal. A
four-page wraparound appearing on the May issue of Fortune will follow. Consumer
product packaging, literature and advertising will integrate the “by Harman”
tag with all brand logos, and additional marketing efforts are in the works.

 “By strengthening the
association among these brands under one high-profile umbrella, we will
demonstrate the Harman passion for innovation and financial strength are the
unifying factors for value-added audio and infotainment solutions of virtually
any scale,” said chairman/CEO Dinseh Paliwal.

The announcements accompanied the release of a third-quarter
financial report showing Harman operated in the black for the third consecutive
quarter following several quarters of major losses.

 Harman’s worldwide net
sales grew 42 percent in the fiscal third quarter to $848 million and by 14
percent for the first nine months to $2.54 billion. Net income hit $18 million
in the third quarter, compared with a year-ago loss of $69 million, and net
income for the nine-month period hit $25 million, compared with a year-ago loss
of $427 million.

The only division to post a third-quarter operating loss was the
consumer division, which lost $1 million for the quarter but posted a $6
million operating profit for the nine-month period. The third-quarter loss was
down from the year-ago $8 million loss, and the $6 million nine-month operating
profit contrasts with a year-ago loss of $35 million.

Consumer sales were up 18 percent in the quarter to $81 million
and up 2 percent for the nine months to $292 million.

(For further details go to
TWICE on May 3.)