Court Rejects Forward Industries' Baseless Request for a Preliminary Injunction Against Terence Bernard Wise

  Court Rejects Forward Industries' Baseless Request for a Preliminary
  Injunction Against Terence Bernard Wise

 Court Refuses to Preliminarily Enjoin Wise's Campaign to Elect New Directors
                              to Forward's Board

  Wise Calls on Board to Schedule 2014 Annual General Meeting Without Delay

Business Wire

SAFFRON WALDEN, United Kingdom -- August 21, 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
commenting on the lawsuit filed against him in federal court, which seeks to
enjoin Mr. Wise's nominees from standing for election at Forward's 2014 Annual
Meeting. On August 19, 2014, a U.S. District Court in the Southern District of
New York rejected Forward's request for a preliminary injunction and scheduled
a hearing on Mr. Wise's proposed motion to dismiss the case.

"I continue to remain confident that the allegations Mr. Johnson and his
supporters on the Board have leveled against me in federal court are baseless,
and I applaud the Court's decision to deny their request for a preliminary
injunction. I remain hopeful that this frivolous lawsuit will be speedily
resolved with as little expense as possible to Forward's shareholders. I also
call on the Board to desist with their stalling tactics, aimed at
disenfranchising shareholders, and insist that they schedule the 2014 Annual
General Meeting without delay and in any case prior to the NASDAQ deadline of
September 30."

As previously disclosed, in furtherance of Mr. Johnson and his affiliates'
efforts to interfere with Mr. Wise's proxy campaign, a subset of the Board
caused Forward to initiate the baseless lawsuit against Mr. Wise on July 22,
2014. In the lawsuit, Forward seeks to invalidate all of Mr. Wise's
nominations for the Forward board. Mr. Wise believes that this lawsuit was
mounted by incumbent management at a time engineered to be most prejudicial to
Mr. Wise's legitimate proxy campaign and with the improper purpose of denying
Forward's shareholders their democratic right to decide who they want to run
their company. Mr. Wise urges all shareholders to remain vigilant of these
repeated efforts by Mr. Johnson and his affiliates to entrench their control
of Forward.

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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