Forward Industries' Largest Shareholder, Terence Bernard Wise, Continues Campaign to Elect New Independent Directors & Sets the

  Forward Industries' Largest Shareholder, Terence Bernard Wise, Continues
  Campaign to Elect New Independent Directors & Sets the Record Straight on
  Derivative Suit Against Chairman Frank LaGrange Johnson & Other Directors
  for Breach of Duty

Wise Assures Forward Shareholders that he is Committed to Removing Chairman
Frank La Grange Johnson and his Supporters from the Board and Electing New,
Highly Qualified, and Independent Directors Capable of Creating Value for
Forward's shareholders at the 2014 Annual Meeting

Wise Sets the Record Straight on Forward's Self-Serving and Inaccurate Press
Release

Business Wire

SAFFRON WALDEN, United Kingdom -- August 15, 2014

Terence Bernard Wise, the largest shareholder and member of the board of
directors of Forward Industries, Inc. (NASDAQ:FORD), a designer and
distributor of custom carry and protective solutions, issued a statement today
confirming that he is continuing with his efforts to replace Chairman Johnson
and his supporters on the Board at the 2014 Annual Meeting and commenting on a
press release issued by Forward, mischaracterizing the status of the
derivative case filed against Johnson and affiliated members of Forward's
Board for breach of fiduciary and director duties.

"The press release and statements put out by Chairman Frank LaGrange Johnson
and Forward in response to my efforts to elect new, independent and qualified
directors to Forward's board are misleading, without merit and nothing more
than an attempt to confuse a clear record and deflect attention from the real
issue – the fact that Mr. Johnson and his management team have presided over a
significant and inexcusable decline in shareholder value and will stop at
nothing to preserve their control of the Board."

As previously disclosed, Mr. Wise filed a derivative suit on behalf of Forward
in the Supreme Court of the State of New York against Frank LaGrange Johnson
and affiliated directors after learning of the filing of a false and
misleading listing application with NASDAQ, contemplating the issuance of
shares representing over 20% of Forward's outstanding common stock at a 10%
discount to market value and without Board or shareholder approval. Mr. Wise
continues to believe that Johnson and his supporters on the Board have engaged
in entrenchment tactics aimed at disenfranchising shareholders in advance of
Forward's 2014 Annual Meeting in violation of their fiduciary duties, and
continues to aggressively pursue the claims before the Supreme Court. Mr.
Johnson and the other defendants represented in the Supreme Court that the
false and misleading NASDAQ application had been withdrawn and that no stock
issuance was imminent, thus obviating the need for a temporary restraining
order. Thereafter, following a special meeting of the Board, Mr. Wise withdrew
his motion for immediate injunctive relief, without prejudice to making a
subsequent application if necessary, based on representations and statements
by Mr. Johnson and the other defendant directors that there was no imminent
plan to issue new preferred shares or otherwise engage in any dilutive or
extraordinary transaction in advance of the 2014 Annual Meeting without
appropriate approvals. Mr. Wise will again seek injunctive relief in the event
that the Board's representations and statements prove to be false and the
interests of the Company are again threatened by imminent and improper
conduct.

ADDITIONAL INFORMATION:

Terence Bernard Wise, together with the other participants named herein,
intends to file a preliminary proxy statement and accompanying proxy card with
the Securities and Exchange Commission (the “SEC”) to be used to solicit votes
for the election of his director nominees at the 2014 annual meeting of
stockholders of Forward Industries, Inc. ("Forward"), a New York corporation.

FORWARD STOCKHOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT WHEN IT
BECOMES AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY
STATEMENT AND OTHER PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE
SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS
PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE,
WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO
INNISFREE M&A INCORPORATED TOLL-FREE AT (888) 750-5834 (BANKS AND BROKERS MAY
CALL COLLECT AT (212) 750-5833).

The Participants in the proxy solicitation are Terence Bernard Wise, Howard
Morgan, Michael Luetkemeyer, Eric Freitag, Sangita Shah, N. Scott Fine and
Darryl Keys (collectively, the “Participants”).

As of the date hereof, Mr. Wise beneficially owns 1,608,541 shares of the
Company's common stock, constituting approximately 19.6% of the class. As of
the date hereof, Mr. Morgan beneficially owns 25,000 shares of the Company's
common stock.

Contact:

Innisfree M&A Incorporated
Scott Winter, 212-750-5833
 
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