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Leatt Corp. Requests FINRA Investigation of Odd Trade



            Leatt Corp. Requests FINRA Investigation of Odd Trade

PR Newswire

CAPETOWN, South Africa, Nov. 12, 2012

CAPETOWN, South Africa, Nov. 12, 2012 /PRNewswire/ -- Leatt Corporation
(OTCQB: LEAT), a global developer, marketer and distributor of the personal
protective equipment for sports enthusiasts, said today that it believes that
a trade of its securities on Friday, November 9, 2012, was most likely made in
error, and that it has asked the Financial Industry Regulatory Authority
(FINRA) to investigate that trade.  Leatt will be announcing its third quarter
results on Thursday, November 15, 2012, and the Company believes that there is
no fundamental or business reason for the sudden drop in the price of its
shares.

The Company implemented a 1-for-25 reverse stock split which was cleared by
FINRA on October 2, 2012, subject to the usual 20-day trading under a
temporary ticker, LEATD, indicating the split.  Prior to the reverse split,
the price of the Company's common stock ranged from $0.02 - $0.04, and the
first trade after the reverse split was at $1.00.  While the Company's common
stock did not trade often during the period after the reverse split, when it
did trade, the price varied between $1.00 and $0.51.  Prior to the odd trade
on November 9, 2012, which was for 720 shares, the last quoted price of the
Company's common stock was $0.51, but the odd trade was executed at $0.02 per
share.  Although the total that changed hands was $14.40, it closed the stock
down 96% on that day.

Leatt believes that one of the market makers parked on the security may have
mistakenly kept the pre-reverse split quote after the reverse split had
already been executed, and that an out-of-date LEAT quote may have been
responsible for the precipitous decline in price on a trade for $14.40. 
However it happened, the Company believes that there is no fundamental reason
for a drop in valuation.

"We are concerned that a trading error for such a small amount may have
derailed much of our efforts to increase shareholder value over the past
year," commented Sean Macdonald, the Company's Chief Executive Officer and
Chief Financial Officer.  "We hope that FINRA will investigate the matter and
take appropriate corrective measures."

About Leatt Corporation

Leatt Corporation develops, distributes and markets personal protective
equipment and ancillary products for all forms of sports, especially extreme
motor sports. The Leatt-Brace® is an award-winning neck brace system
considered the gold standard for neck protection for anyone wearing a crash
helmet as a form of protection. It was designed for participants in extreme
sports or riding motorcycles, bicycles, mountain bicycles, all-terrain
vehicles, snowmobiles and other vehicles.

For more information, visit: www.leatt-corp.com | www.leatt.com

Forward-looking Statements

This press release may contain forward-looking statements regarding Leatt
Corporation (the "Company") within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact included herein are "forward-looking
statements" including statements regarding: the significance of FINRA's
investigation of the odd trade and the likelihood that it will take corrective
measures with respect thereto; the general ability of the Company to achieve
its commercial objectives; the business strategy, plans and objectives of the
Company and its subsidiaries; and any other statements of non-historical
information.  These forward-looking statements are often identified by the use
of forward-looking terminology such as "believes," "expects," "anticipates,"
"seeks," "should," "could," "intends," or "projects" or similar expressions,
involve known and unknown risks and uncertainties. These statements are based
upon the Company's current expectations and speak only as of the date hereof.
Any indication of the merits of a claim does not necessarily mean the claim
will prevail at trial or otherwise. Financial performance in one fiscal period
does not necessarily mean continued or better performance in the future. The
Company's actual results in any endeavor may differ materially and adversely
from those expressed in any forward-looking statements as a result of various
factors and uncertainties, which factors or uncertainties may be beyond our
ability to foresee or control. Other risk factors include the status of the
Company's common stock as a "penny stock" and those listed in other reports
posted on The OTC Markets Group, Inc.

Contacts:

Leatt Corporation
Sean Macdonald
Chief Executive Officer
Sean.Macdonald@leatt-brace.com 
+ (27) 21 557 7257

Allen & Caron, Inc.
Rudy Barrio (Investors)
r.barrio@allencaron.com 
(212) 691-8087

Len Hall (Media)
len@allencaron.com 
(949) 474-4300

SOURCE Leatt Corporation

Website: http://www.leatt-corp.com
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