Letter from Bianchi about the appointment of a new President

Dear Bianchi Customer,

We are pleased to announce the appointment of Nick Andrade as the new President of Bianchi U.S.A.

Nick has been in our industry for over thirty years with an extensive background in sales, sales management, dealer relations and all general management issues. Our management team will have a strong addition through the contribution of Nick's skills and experience; an addition which will bring Bianchi U.S.A. to the next level within the industry.

We at Bianchi are excited with the prospects of our new president, and hold strong convictions that the Bianchi brand can and will grow, both in the overall market, and more specifically, your store and your market.

With the show season beginning, we invite you to stop at the Bianchi U.S.A.booth at one of the upcoming trade shows. Bianchi will display at Interbike West (Sept. 10-14), at Interbike East in Philadelphia (Sept. 30-Oct. 2), and also at the Chicago Area Bicycle Dealer Association Show (Oct. 28-30).

Bianchi staff will be present at these trade shows to introduce you to the entire 1996 Bianchi line, as well as to answer any questions which you might have in relation to any aspect of our company's business or future plans.

We all lok forward to seeing you very soon.

Sincerely,

Rod Jewett

Executive Vice President