Forward Industries Offers Comment on Prelim. Results of Annual Meeting: Wise, Slate Named to Board

Forward Industries, Inc.

today announced that, based on the preliminary vote count following the Company's 2014 Annual Meeting of Shareholders, Terence Bernard Wise and all four of his director nominees, including N. Scott Fine, Michael Luetkemeyer, Eric Freitag and Howard Morgan, appear to have been elected to the Board of Directors of Forward. Speaking on behalf of Forward's outgoing directors, Frank LaGrange Johnson said, "This election contest was over two very different visions for the future of this company. While the outgoing Board hoped our slate would prevail and be given an opportunity to implement our vision, we wish the incoming Board members well as they seek to execute their vision. As fellow shareholders, we also wish the new team the best of luck in creating value for all stakeholders. It has been our honor and pleasure to serve. It is anticipated that the results will be certified on Monday." Speaking on behalf of Forward management, Robert Garrett, Chief Executive Officer of Forward, said, "We are extremely grateful to Forward's loyal and valued employees for their commitment, hard work and dedication during this challenging time for the company. Due to the efforts of our entire team, the company returned to profitability in 2013 and continues to be a leader in the sectors in which we operate." Forward also noted that the preliminary vote count following the Annual Meeting also indicates that shareholders voted FOR the ratification of the appointment of CohnReznick LLP, as our independent registered public accounting firm for the fiscal year ending September 30, 2015.