Action Performance Reports Q4, 12-Month Sales Exceed Street Estimates

    PHOENIX--Oct. 2, 2001--Action Performance Cos. Inc. (company) today reported that preliminary sales figures for the fourth quarter and fiscal year ended Sept. 30, 2001, exceed street estimates, while strong trackside sales continue, with weekend sales at Kansas City, Kan., surpassing the company's expectations.
    "Preliminary sales information for fourth quarter and fiscal 2001 indicate that revenues are comfortably in excess of analyst projections," said David Martin, Action Performance chief financial officer.
    "And, from a more current perspective, weekend trackside sales are continuing strong. Sales from the inaugural NASCAR race at Kansas City this past weekend surpassed expectations established prior to the beginning of the fourth quarter.
    "Considering the unusual business climate in the U.S., Action Performance management is pleased with the company's preliminary fourth-quarter and year-end revenues and continues to be encouraged by consistent strength in current sales," Martin continued. "Based on the level of Action's trackside sales and positive outlook from our distributors, we are looking forward to continued growth in the new fiscal year.
    "The company believes that the current economic environment warrants this additional disclosure of preliminary year-end information," added Martin.
    The company expects to release final fourth-quarter and 12-month results in mid-November.

    About Action Performance:

    Action Performance Cos. Inc. is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, 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 department stores, and a worldwide network of wholesale distributors and specialty dealers.

    This news release contains forward-looking statements regarding future growth. The company's actual results could differ materially from those set forth in these forward-looking statements. Factors that might cause such differences include, among others, the occurrence and related effects of terrorist or other hostilities, the ability to successfully execute the company's business plan, the success of cost containment efforts, the results of the transition of the company's 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.