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Petersen Publishing Announces Motorsport Associations and Events Acquisitions

4 November 1997

 Company Uses Aftermarket Show to Announce Acquisition of National Muscle Car
  Association, National Import Racing Association and Sport Truck Nationals

Will Participate in Joint Venture with International Creative Events to Create
                   North American Motorsports Expo in 1998

    LAS VEGAS, Nov. 4 -- The Petersen Companies, Inc.
today at the Specialty Equipment Market Association (SEMA) Show announced the
acquisition of the National Muscle Car Association, the National Import Racing
Association and the Sport Truck Nationals.  The company will also participate
in a joint venture with International Creative Events to create the first
annual North American Motorsports Expo at the Charlotte Convention Center,
Nov. 19-21, 1998.
    "Petersen is a company on the move, as these acquisitions clearly
demonstrate," says Neal Vitale, President and COO of the Petersen Companies,
Inc.  "Our goal is to make the pages of our magazines come alive with
interactive experiences that address the passions of our readers and fulfill
the expectations of our marketing partners.  These events further reinforce
our leadership position in the field."
    Both the National Muscle Car Association (NMCA), headed by Ronald L.
Coleman, and the National Import Racing Association (NIRA) with president
Eugene Wong, combine the functions of an enthusiast association, sanctioning
body and event producer.  NMCA's largest event is the annual World Finals at
the Memphis Motorsports Park in Memphis, Tennessee every September, while NIRA
focuses on car shows and drag races that feature import and compact
performance cars.
    The Sport Truck Nationals, purchased from owner Gary Case, past president
of Stylin' Concepts, Inc., is one of the largest custom street truck events in
the country, held annually in Owensboro, Kentucky during the July 4th weekend.
    The inaugural North American Motorsports Expo (NAME) will be a joint
venture with International Creative Events and is scheduled for Nov. 19-21,
1998 at the convention center in Charlotte, North Carolina.
    "NAME will be a trade show specifically for those companies and
organizations that form the core of auto racing in North America," says show
manager Greg Nivens.  "Response from the industry has been so strong that
we're projecting more than 500 exhibits from 300 manufacturers, and that's
just the first year.  Auto racing is the fastest-growing sport in the country,
and NAME will be structured to match that growth."
    The acquisitions of NMCA, NIRA, the Sport Truck Nationals and creation of
NAME are interrelated elements of Petersen's growing involvement with
motorsports that includes Hot Rod Magazine's co-sponsorship, with Interstate
Batteries, of Joe Gibbs Racing's funny car, top fuel and NASCAR teams, along
with the creation of two NASCAR-licensed titles -- NASCAR Garage and NASCAR
Trucks -- to join the company's other performance and racing-oriented
publications such as Hot Rod, Car Craft, Circle Track, Sport Truck, Chevy High
Performance, and Richard Petty's Stock Car Magazine.
    As one of the world's largest special interest publishers, Petersen
produces more than 75 magazines including Hot Rod, Motor Trend, Motorcyclist,
Skin Diver, Teen and Sport, reaching more than 40 million male readers and
more than eight million teenage women monthly.
    The Petersen Companies, Inc. is listed on the New York stock exchange
under the symbol PTN.

SOURCE  Petersen Companies, Inc.