Action Performance Companies Move to New York Stock Exchange

    PHOENIX--Feb. 11, 2002--Action Performance Companies, Inc. , the leader in the design, marketing, promotion, and distribution of licensed motorsports merchandise, today announced it will transfer its stock listing to the New York Stock Exchange (NYSE) effective February 20, 2002, and will trade under its new ticker symbol, ATN. Action Performance Chairman, President, and CEO Fred W. Wagenhals will initiate trading by ringing the opening bell at the New York Stock Exchange that morning.
    "We believe that this move will provide us with greater credibility and allow us to reach a larger audience," said Wagenhals. "Action is now ten years old, and the time is right for our company and for our shareholders to trade on the New York Stock Exchange."
    "The NYSE is thrilled to welcome Action Performance Companies to our family of listed companies," said New York Stock Exchange Chairman and CEO Dick Grasso. "Action Performance is an industry leader in motorsports marketing and merchandising. We look forward to partnering with Action Performance and its shareholders."
    Action Performance has been listed on the Nasdaq National Market under the ticker symbol ACTN since its initial public offering in 1993. In 2001 the Company's stock rose from $2.38 to $30.61 per share to become the fifth highest gainer on Nasdaq and recently closed over $40.00 per share.
    "I am very pleased about this move and the prestige that accompanies trading on the NYSE," said Action's Chief Financial Officer David Martin. "Our shareholders will benefit from the operating style of the exchange."
    The move will also be celebrated by festivities outside the stock exchange on February 20, 2002. The Dale Earnhardt Legendary Trackside Trailer and a racecar driven by Dale Earnhardt will be on display for visitors. The trackside trailer from which Action Performance sold Dale Earnhardt memorabilia has become a living tribute to "The Intimidator." Race fans have paid tribute to Dale's memory by writing words of remembrance and prayers on the side of the trailer. Components of the racecar on display, including the engine, were part of the actual racecar Dale Earnhardt drove to victory at Atlanta during the 2000 NASCAR Winston Cup race. Although the driver's-side half of the body shell has been cut away to reveal the car's inner workings, the racecar remains completely functional.
    Additionally, Wagenhals will be joined in the celebration by NASCAR Winston Cup Champion Rusty Wallace, three-time NASCAR Winston Cup Champion and NASCAR FOX Sports analyst Darrell Waltrip, six-time NASCAR Winston Cup Champion Team Owner Richard Childress, and 11-time NHRA Funny Car Champion John Force. Having been long-time Action Performance supporters, their presence underscores the driver and team owner relationships upon which Action was founded. This celebration marks one of the first events allowed to take place outside of the stock exchange since September 11th. The event marks not only Action's move to the NYSE but also a return to normalcy in America.

    About Action Performance Companies, Inc.

    Action Performance Companies, 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 QVC, the Racing Collectables Club of America (RCCA), goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.

    This press release contains forward-looking statements. 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 ability to successfully execute its business plan, the success of new marketing programs, future trading activity, and other risks discussed in the Company's Form 10-K, dated September 30, 2001, on file with the U.S. Securities and Exchange Commission.