STAMFORD, CT – Harman International Industries Incorporated (NYSE:HAR) said today that it has become aware of several media reports suggesting that a tender offer has been made to acquire the Company. The Company has not received such communications and is not familiar with any parties claiming to make such a solicitation.

What’s not stated is that Harman’s wild ride was provocated by a fax sent globally to news organizations from an alleged Saudi-based investing group founded in 1981 called the Arabian Peninsula Group.

According to the fax, which was published by the Financial Times, APG manages the private wealth of two prominent parties in Saudi Arabia and the UAE. The fax also said that the acquisition was partially shared with a South Korean partner who was unnamed. The fax stated that APG had put forth a public tender offer of USD $49.50 per share, which is more than double the current value of Harman’s stock. As a result, Harman’s stock immediately shot up, then plummetted in a wild trading melee. See Finance Yahoo chart below.

The Financial Times was unable to find any press archives on APG.

Harman, based in Stamford, CT, contacted both the U.S. Securities and Exchange Commission (SEC) and the local Stamford Chamber of Commerce. According to a story published in the Stamford News-Times, Harman confirmed that no such company called APG exists.

Harman International Industries, Incorporated (www.harman.com), designs, manufactures and markets a wide range of audio and infotainment products for the automotive, consumer and professional markets. The company’s stock is traded on the New York Stock Exchange under the symbol NYSE:HAR.

Harman is part of the Sonic Control MusicTech 21.