Forward Industries Inc.

DOUGLAS W. SABRA was appointed Chief Executive Officer on January 1, 2008. Prior to this, Mr. Sabra was Forward's Vice President and Chief Financial Officer since September 2000 and has been a director since April 2006. Prior to joining Forward, Mr. Sabra was a Controller for Tyco Submarine Systems (now Tycom Ltd.), where he worked from 1998 to June 2000. Mr. Sabra retired from the Coast Guard in 1998 after 22 years of service where he held a variety of financial management positions. Mr. Sabra received an MBA from the University of South Florida and a Bachelors Degree in accounting from Florida International University. Mr. Sabra was appointed Assistant Secretary in January 2005. JAMES O. MCKENNA was appointed Chief Financial Officer on January 1, 2008. Prior to this, Mr. McKenna was Forward's Corporate Controller since December 2003. Prior to joining Forward, Mr. McKenna was employed as the Assistant Controller with Medallist Developments Inc., a real estate development company, from January 2002 to December 2003. Mr. McKenna was also employed as an auditor with Ernst and Young LLP from September 1996 to December 2001 and is a Certified Public Accountant. LOUIS LIPSCHITZ was appointed a director in June 2005. Mr. Lipschitz serves as a director of Majesco Entertainment, Inc., a publicly held software and digital content provider for electronic games, where he is Chairman of the Audit Committee and a member of Compensation and Nominating and Governance Committees; a director of New York & Company Inc., a publicly held specialty clothing chain, where he is the Chairman of the Audit Committee; and as a director of Finlay Enterprises Inc., a publicly held specialty retailer of fine jewelry, where he is the Chairman of the Audit Committee. Mr. Lipschitz was the Executive Vice President and Chief Financial Officer of Toys "R" Us, Inc. from February 1996 until March 2004. JOHN F. CHISTE was appointed a director in February 2008. Mr. Chiste has been the Chief Financial Officer of Falcone Group, a privately held diversified portfolio of real estate companies, since 2005. From 1997 to 2005, Mr. Chiste was the Senior Vice President, Chief Financial Officer and Treasurer of Bluegreen Corporation, a publicly held developer and operator of timeshare resorts. FRED HAMILTON was appointed a director in February 2008. Mr. Hamilton has been an independent consultant to the marine industry for Fortune 500 and International Companies since 2002. Mr. Hamilton has also served as the Director of United Services Automobile Association (USAA), a fortune 200 full service Financial Services Insurance, Banking, Brokerage and Real Estate company since 1999 where he is a member of the Finance and Audit committee. BRUCE GALLOWAY was appointed as a director in April 2002. Mr. Galloway has served as the Chairman and Chief Executive Officer of Galloway Capital Management, a private investment firm, since August 2005. Mr. Galloway has served as the Managing Director of Burnham Securities from 1993 to August 2005; as a director and Chairman of Command Security Corporation, a publicly held security guard and aviation screening services provider; and as non-executive Chairman and a member of the Compensation Committee of Broadcaster Inc. a new media and software company. He was a Director of Datametrics, a manufacturer of ruggedized computer equipment, from August 2000 to October 2006 and was a director of GVI Security Solutions Inc., a video surveillance equipment provider, from February 2004 until June 2006. MICHAEL M. SCHIFFMAN was appointed a director in April 1992. Mr. Schiffman served as Forward's President and Chief Operating Officer from June 1998 to December 2007. From 1992 to 1998 Mr. Schiffman served as Forward's Executive Vice-President and was assigned to Forward's Hong Kong operations for most of that time. Prior to this, Mr. Schiffman was employed by Forward in various capacities since 1985. STEVEN A. MALSIN was appointed Secretary of Forward in January 2005. He is, and has for more than the past five years, been engaged in private legal practice. He serves on the Board of Directors of one not-for-profit organization.

MICHAEL M. SCHIFFMAN was appointed a director in April 1992. Mr. Schiffman served as Forward's President and Chief Operating Officer from June 1998 to December 2007. From 1992 to 1998 Mr. Schiffman served as Forward's Executive Vice-President and was assigned to Forward's Hong Kong operations for most of that time. Prior to this, Mr. Schiffman was employed by Forward in various capacities since 1985.

JAMES O. MCKENNA was appointed Chief Financial Officer on January 1, 2008. Prior to this, Mr. McKenna was Forward's Corporate Controller since December 2003. Prior to joining Forward, Mr. McKenna was employed as the Assistant Controller with Medallist Developments Inc., a real estate development company, from January 2002 to December 2003. Mr. McKenna was also employed as an auditor with Ernst and Young LLP from September 1996 to December 2001 and is a Certified Public Accountant. LOUIS LIPSCHITZ was appointed a director in June 2005. Mr. Lipschitz serves as a director of Majesco Entertainment, Inc., a publicly held software and digital content provider for electronic games, where he is Chairman of the Audit Committee and a member of Compensation and Nominating and Governance Committees; a director of New York & Company Inc., a publicly held specialty clothing chain, where he is the Chairman of the Audit Committee; and as a director of Finlay Enterprises Inc., a publicly held specialty retailer of fine jewelry, where he is the Chairman of the Audit Committee. Mr. Lipschitz was the Executive Vice President and Chief Financial Officer of Toys "R" Us, Inc. from February 1996 until March 2004. JOHN F. CHISTE was appointed a director in February 2008. Mr. Chiste has been the Chief Financial Officer of Falcone Group, a privately held diversified portfolio of real estate companies, since 2005. From 1997 to 2005, Mr. Chiste was the Senior Vice President, Chief Financial Officer and Treasurer of Bluegreen Corporation, a publicly held developer and operator of timeshare resorts. FRED HAMILTON was appointed a director in February 2008. Mr. Hamilton has been an independent consultant to the marine industry for Fortune 500 and International Companies since 2002. Mr. Hamilton has also served as the Director of United Services Automobile Association (USAA), a fortune 200 full service Financial Services Insurance, Banking, Brokerage and Real Estate company since 1999 where he is a member of the Finance and Audit committee. BRUCE GALLOWAY was appointed as a director in April 2002. Mr. Galloway has served as the Chairman and Chief Executive Officer of Galloway Capital Management, a private investment firm, since August 2005. Mr. Galloway has served as the Managing Director of Burnham Securities from 1993 to August 2005; as a director and Chairman of Command Security Corporation, a publicly held security guard and aviation screening services provider; and as non-executive Chairman and a member of the Compensation Committee of Broadcaster Inc. a new media and software company. He was a Director of Datametrics, a manufacturer of ruggedized computer equipment, from August 2000 to October 2006 and was a director of GVI Security Solutions Inc., a video surveillance equipment provider, from February 2004 until June 2006. MICHAEL M. SCHIFFMAN was appointed a director in April 1992. Mr. Schiffman served as Forward's President and Chief Operating Officer from June 1998 to December 2007. From 1992 to 1998 Mr. Schiffman served as Forward's Executive Vice-President and was assigned to Forward's Hong Kong operations for most of that time. Prior to this, Mr. Schiffman was employed by Forward in various capacities since 1985. STEVEN A. MALSIN was appointed Secretary of Forward in January 2005. He is, and has for more than the past five years, been engaged in private legal practice. He serves on the Board of Directors of one not-for-profit organization.

STEVEN A. MALSIN was appointed Secretary of Forward in January 2005. He is, and has for more than the past five years, been engaged in private legal practice. He serves on the Board of Directors of one not-for-profit organization.

FRED HAMILTON was appointed a director in February 2008. Mr. Hamilton has been an independent consultant to the marine industry for Fortune 500 and International Companies since 2002. Mr. Hamilton has also served as the Director of United Services Automobile Association (USAA), a fortune 200 full service Financial Services Insurance, Banking, Brokerage and Real Estate company since 1999 where he is a member of the Finance and Audit committee.

JOHN F. CHISTE was appointed a director in February 2008. Mr. Chiste has been the Chief Financial Officer of Falcone Group, a privately held diversified portfolio of real estate companies, since 2005. From 1997 to 2005, Mr. Chiste was the Senior Vice President, Chief Financial Officer and Treasurer of Bluegreen Corporation, a publicly held developer and operator of timeshare resorts.

NORMAN RICKEN has been a director since March 2000. During the past five years Mr. Ricken has served as an independent consultant; between 1971 and his retirement in 1989, Mr. Ricken held senior positions at Toys R Us Inc., including Chief Financial Officer, President and Chief Operating Officer.