Cragar Industries, Inc. Enters Into Licensing Representation Agreement With Trademarketing Resources, Inc.

    PHOENIX, April 4 Cragar Industries, Inc.
(OTC Bulletin Board: CRGR) today reported that it has entered into a licensing
representation agreement (the "Agreement") with Trademarketing Resources Inc.
("TRI"), a private corporation with offices in Michigan and California.  TRI
will act as Cragar's exclusive licensing agent for the purpose of exercising
the merchandising rights in and to the Cragar trademarks, including but not
limited to, the CRAGAR(R), TRU=SPOKE(R), CRAGAR S/S(R) and STREET PRO(R)
brands.  TRI's focus will be on developing licensing arrangements for products
and services outside of Cragar's current licensing arrangements for custom
automotive wheels.  TRI will also assist in the promotion and advertising of
said products and services in all media.
    Michael Hartzmark, CEO of Cragar stated, "TRI is a perfect fit for Cragar.
No entity other than TRI provides Cragar the same type of combined experience
and success in both trademark licensing and the automotive aftermarket.  Their
track record with the Polaris(R), Saleen(R) and the Detroit 300(R) trademarks
is impressive.  We hope they will bring the same success to Cragar."  Dr.
Hartzmark added, "Their experience in running licensing programs should also
help strengthen our current licensing arrangements with Carlisle Tire and
Wheel, Inc., Weld Racing, Inc., and Performance Wheel Outlet, Inc.  We hope
that by the third quarter of 2001, TRI will take a more active role in
monitoring and directing these programs."
    Bob Horton, President and CEO of TRI stated, "We are both pleased and
proud to have earned the opportunity to represent the Cragar family of brands.
It is rare that the opportunity comes along to represent a brand with as
strong a heritage as the CRAGAR brand.  Virtually everyone has a fond memory
associated with Cragar.  We are very confident that our partnership with
Cragar will result in an exceptionally successful licensing program."

    Cragar Industries, Inc. was an international designer, producer, and
seller of custom wheels and wheel accessories for cars, trucks, vans, sport
utility vehicles, racing vehicles, and motorcycles.  The Company is now a
licensor of the CRAGAR brand name and an investor in Wrenchead, Inc.

    Trademarketing Resources, Inc. (TRI) is a full-service corporate trademark
licensing agency with headquarters in Clarkston, MI.  TRI represents a variety
of other leading brands including Polaris Industries' Polaris(R) and
Victory(R) brands, Saleen, Inc.'s Saleen(R) and RRR/Speedlab Racing(R) brands,
and the Detroit 300(R) brand, the official trademark of the celebration of
Detroit's 300th birthday.

    This release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 including, among others, statements
regarding the transactions with Trademarketing Resources, Inc. and CRAGAR's
intent to implement a new business strategy regarding the CRAGAR brand name
and the investment in Wrenchead, Inc.  Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified.  Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying the
forward-looking statements.  Please refer to the Risk Factors in the Company's
filings with the Securities and Exchange Commission, which identify certain
important factors that could cause actual results to differ materially from
those contained in our forward-looking statements.  These factors include, but
are not limited to, dependence on royalty income from licensees, dependence on
external financing, market conditions, as well as general economic conditions.
In addition, there is no assurance that Trademarketing Resources, Inc. will be
able to successfully develop licensing arrangements, which would have a
material adverse effect on the royalties CRAGAR anticipates from the licensing
arrangements.  Finally, there is no assurance that the Company's brand
extension strategy will be implemented, and if so, whether it will be
successful.