Action Performance to Present At Institutional Investor Conference

    PHOENIX--June 1, 2001--Action Performance Companies Inc. (Action) , the leader in the design, marketing, promotion, and distribution of licensed motorsports merchandise, today announced that Chief Financial Officer David Martin will be giving a presentation to analysts and portfolio managers at The Wall Street Analyst Forum's institutional investor conference.
    Approximately 80 public companies will be presenting during the four-day conference, to be held in New York City, from Monday, June 4 through Thursday, June 7, 2001.
    Martin will discuss Action's core business, return to profitability, and strategy to sustain sales and profit growth, including its recent entry into the mass retail market for die cast scaled-model racecars. Martin's presentation, scheduled for Tuesday, June 5, 2001, at 11:05 a.m. Eastern, can be heard live via Internet Web cast at: http://www.corporate-ir.net/media_files/priv/21180/WSAF/ schedule/060501.htm. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field.)
    The Web cast will consist of visuals of the slides used in the presentation accompanied by audio of Martin's discussion and will be archived for 30 days.

    About Action Performance Companies

    Action Performance is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related products, including collectible die-cast racecar replicas, die cast for the mass market, apparel, souvenirs, and other memorabilia.
    The company markets and distributes products through a variety of sales and distribution channels, including the Racing Collectables Club of America (RCCA), trackside at racing events, mass retail stores, and a worldwide network of wholesale distributors and specialty retailers.

    The presentation contains forward-looking statements regarding expected revenues and costs. The company's actual results could differ materially from those represented in these forward-looking statements. Factors that might cause such differences include, among others, the inability to successfully execute its business plan, the results of the transition of our RCCA business to QVC, competitive pressures, acceptance of the company's products and services in the marketplace, the success of new marketing programs, the company's ability to successfully execute its agreements with other parties, and other risks discussed in the company's Form 10-K, dated Sept. 30, 2000, on file with the U.S. Securities and Exchange Commission.