-Revenue Increased to $98.3 Million, Up 50% Year-Over-Year-
                      -Net Income of $4.6 Million-
             -Increased 2008 Revenue Guidance to $350 Million-

SANTA ANA, Calif., Aug. 7, 2008 (PRIME NEWSWIRE) --Fuel Systems Solutions, Inc. (Nasdaq:FSYS) reported results for its second quarter ended June 30, 2008.

Matthew Beale, president, said. "The second quarter marks another quarter of growth. Revenue increased approximately 50% year-over-year, reflecting the rapidly expanding demand for alternatives to petroleum to fuel vehicles. Additionally, we drove gross margin improvements with successful engineering, production and distribution synergies developed in the past year. US-based Fuel Systems Solutions delivers alternative fuel solutions for transportation and industrial applications that reduce emissions, displace petroleum and generate savings. We are capturing the demand for our immediate, real-world solutions with our extensive reach in Europe, Asia and Latin America, where high fuel costs have long been a concern. As oil prices continue to rise and emissions concerns increase, we perceive important medium term opportunities in the United States for our transportation products and technology. We expect the macro environment to continue to drive growth, and we are excited about the future."

Financial Results

Revenue for the second quarter was $98.3 million, up 49.9% from revenue of $65.6 million for the second quarter 2007, driven by strong performance in the transportation business. Gross profit for the quarter reached $28.6 million and represented 29% of revenue, compared to $14.5 million, or 22% of revenue, in the second quarter 2007. In the second quarter of 2008, the company recorded a non-cash goodwill impairment charge related to the company's Australian operations of $3.9 million, or $0.25 per diluted share. Net income for the second quarter of 2008 reached $4.6 million, or $0.29 per diluted share, including the non-cash goodwill impairment charge of $3.9 million, compared to $395,000, or $0.03 per share, in the second quarter of 2007.

For the six-month period ending June 30, 2008, total revenues were $192.9 million, compared to $120.4 million for the first half of 2007. Net income for the first half of 2008, which includes the non-cash goodwill impairment charge of $3.9 million, was $10.8 million, or $0.69 per diluted share, compared to $1.4 million, or $0.09 per diluted share, for the first half of 2007.

Bill Larkin, CFO, said, "We generated cash from operations of $19.9 million in the second quarter of 2008, compared to $12.2 million in the second quarter of 2007. The strength of our financial position provides us the foundation for executing our growth strategy organically and through acquisitions."

Company Outlook

Based on its current assessment of near-term market trends, the company is increasing its full year 2008 consolidated revenue guidance to $350 million and increasing its gross profit margin to approximately 27% and operating margin to approximately 12%.

Conference Call

The company will host a conference call on August 8th at 10:00 a.m. Pacific Time / 1:00 p.m. Eastern Time to discuss its second quarter 2008 financial results. To listen to the call live, please dial 877-397-0291 at least 10 minutes before the start of the conference. International participants may dial 719-325-4889. No pass code is required. The call is also being webcast and can be accessed from the "Investor Relations" section of the company's website at http://www.fuelsystemssolutions.com/. A telephone replay will be available until midnight ET on August 22 by dialing 888-203-1112 or 719-457-0820 and entering pass code 8771384#. A replay will also be available at the web address above for 90 days.

Forward-Looking Statements

This press release contains certain forward-looking statements that involve risks and uncertainties, including, without limitation, expressed or implied statements concerning the company's sales and output expectations for its delayed original equipment manufacturing operations; and its ability to achieve 2008 revenue of approximately $350 with gross profit margin of 27 percent and operating margin of 12 percent. Such statements are only predictions, and the company's actual results may differ materially. Factors that may cause the company's results to differ include, but are not limited to, risks that original equipment automobile manufacturers do not adopt the company's fuel systems as expected, that expected sales not based on long-term contracts will materialize, that changes in emissions regulations will not significantly impact demand for the company's products, that a global economic downturn may reduce customers' demand for our products, that reduction in oil prices will not reduce the demand for our products and that currency fluctuations will not reduce our revenue or financial condition. Readers also should consider the risk factors set forth in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, those contained in the "Risk Factors" section of the company's Annual Report on Form 10-K, for the year ended December 31, 2007. The company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.

About Fuel Systems Solutions

Fuel Systems Solutions (Nasdaq:FSYS), a U.S.-based company, through its U.S. and foreign subsidiaries, delivers alternative fuel solutions for transportation and industrial applications that reduce emissions, displace petroleum and generate savings, which is extremely relevant today. The company's industrial division is run through IMPCO Technologies and its subsidiaries and the company's transportation division is run through BRC and its subsidiaries. The company is comprised of two subsidiaries, industrial under IMPCO Technologies and transportation under BRC. IMPCO designs, manufactures, markets and supplies advanced products and systems to enable internal combustion engines to run on clean burning gaseous fuels such as natural gas, propane and biogas. IMPCO is a leader in the heavy duty, industrial, power generation and stationary engines sectors. Headquartered in Santa Ana, California, IMPCO has offices throughout Asia, Europe, Australia and North America. BRC, through its subsidiaries, produces a complete range of systems for converting vehicles to gaseous fuel to meet market requirements. BRC is a leader in the light duty and automobile alternative fuel sectors and has established alliances with several major automobile manufacturers for OEM projects. Headquartered in Cherasco, Italy, BRC has offices throughout Asia, Europe and South America.