NHRA announces strategic alliance with PriMedia Inc.

    LAS VEGAS (Oct. 31, 2001) - The National Hot Rod Association announced 
today at the Specialty Equipment Market Association (SEMA) Show at the Las 
Vegas Convention Center that it has entered into a strategic alliance with 
PRIMEDIA, Inc., owner and operator of the National Import Racing Association 
(NIRA), to expand its current NHRA Summit Import Drag Racing Series schedule 
to 10 events in 2002.   
    The relationship allows both companies to focus on the strengths they 
currently bring to the import drag racing scene: NHRA, the operations, 
sponsorship and marketing side of the equation, and PRIMEDIA, its global 
publishing empire.
    "Although this year's inaugural NHRA Summit Import Drag Racing Series was 
a success, we forged this new alliance with PRIMEDIA to further enhance 
NHRA's position in the import drag racing segment and continue to build on 
the momentum that we developed last year," said Tom Compton, president of 
NHRA.  "With the support of PRIMEDIA, we can expand our Summit Import Drag 
Racing Series into one of the major motorsports series to be reckoned with 
nationally."
    Under this agreement, NHRA, NIRA and PRIMEDIA will join forces to 
significantly strengthen the NHRA Summit Import Drag Racing Series to make it 
the most dominant player in the import scene.
    The 10-race series, which will be featured at some of the finest drag 
racing facilities in the country, begins at Gainesville Raceway, Gainesville, 
Fla. on April 13-14 and concludes with the Finals at historic Pomona (Calif.) 
Raceway on Oct. 26-27.   Old Bridge Township Raceway Park in Englishtown, 
N.J. will host two events (May 4-5 and Oct. 5-6). Other event locations 
include Atco (N.J.) Raceway (May 18-19); Houston Raceway Park, (June 1-2); 
Maple Grove Raceway in Reading, Pa.(June 15-16); the Texas Motorplex in 
Dallas (Aug. 3-4); Woodburn (Ore.) Dragstrip (Aug. 17-18); and Sears Point 
Raceway in Sonoma, Calif. (Sept. 7-8).  
    "This was a logical step in PRIMEDIA's business objectives to continue an 
active role in the import drag racing world while relying on NHRA to provide 
the vast experience of event planning, operation and marketing to the 
category," said Craig Nickerson, president and chief executive officer of  
the PRIMEDIA Automotive Enthusiast Group.  "We believe this alliance will 
further the effort of import drag racers nationwide to make the sport even 
bigger than it is today."
    In addition, it was announced that the classes currently contested in the 
NHRA Summit Import Drag Racing Series will remain, with the rules modified to 
accept all vehicles, with some modification, currently categorized in the 
NIRA series.  The complete 2002 NHRA Summit Import Drag Racing Series 
Rulebook will be available, online, by mid-November.  
    A year-end championship bonus fund of $120,000 is guaranteed, as well as 
purses at each event and an extensive contingency program. All 10 races will 
be aired on ESPN2.  A television schedule will be announced later this year.
    PRIMEDIA, Inc. brings with it in this alliance the power of the most 
popular enthusiast magazines in the industry including: Euro Tuner, Import 
Tuner, Sport Compact Car, Hot Rod, Super Street, Custom Rodder, Drag Racing 
USA, GM High Tech Performance/High-Tech Performance, Popular Hot Rodding, 
Street Rodder, Turbo & High Tech Performance.
    Last year, the NHRA Summit Import Drag Racing Series consistently 
featured the biggest names in professional import drag racing.  R.J. Simrock, 
from El Cajon, Calif., earned the 2001 NHRA Summit Import Series Pro category 
championship, while Craig Paisley, from Hicksville, N.Y., drove his Toyota 
Supra to championship honors in the Modified category.
    "Summit Racing originally joined forces with NHRA to help build a world 
class organization for import racers," said Skooter Peaco, motorsports 
manager for Summit Racing Equipment.  "With PRIMEDIA joining our partnership, 
this alliance elevates the NHRA Summit Import Series to unprecedented heights 
and opens up a wealth of opportunities for participants, sponsors and fans.  
PRIMEDIA's efforts will not only enhance our ability to reach import 
enthusiasts worldwide, but also allow us to make the stars of the Summit 
Import Series into household names.  We are more excited than ever about the 
future of our series and we just can't wait for Gainesville."
    Headquartered in Glendora, Calif., the NHRA is the primary sanctioning 
body for the sport of drag racing in the United States. It presents 24 
national events through its NHRA Winston Drag Racing Series. The NHRA has 
more than 80,000 members nationwide and more than 140 member tracks.  The 
NHRA-sanctioned sportsman and bracket racing series' provide competition 
opportunities for drivers of all levels. The NHRA develops the stars of 
tomorrow by offering the NHRA Federal-Mogul Drag Racing Series, NHRA Summit 
Racing Series, NHRA Summit Import Drag Racing Series and the NHRA Street 
Legal Program. The NHRA also offers the NHRA Castrol GTX Jr. Drag Racing 
League for youths ages 8 to 17.
    PRIMEDIA, with 2000 sales of $1.7 billion, is a targeted media company 
with print, video and Internet businesses focused on consumer and 
business-to-business audiences. Some key businesses include Seventeen, New 
York, Chicago, Fly Fisherman, Channel One Network and 16 other specialty 
satellite television and TV distribution services, Horticulture, Modern 
Bride, American Baby, IntelliChoice, Telephony,  About.com, and Films for the 
Humanities & Sciences. The Company owns and operates more than 1,000 Web 
sites and other Internet properties.