Racing Champions Ertl Expands Board

    GLEN ELLYN, Ill.--Feb. 20, 2003--Racing Champions Ertl Corporation today announced that Daniel M. Wright has been elected to the Company's Board of Directors, expanding its size to nine members from eight.
    Curt Stoelting, Chief Executive Officer, stated, "We are delighted to welcome Dan Wright to the Company's Board of Directors, which increases the number of outside directors. Dan brings an extensive audit and business background in many industries, including manufacturing and entertainment/recreation which will be a major asset to Racing Champions Ertl as we continue to grow our business. Dan will serve on the Board's audit committee."
    Mr. Wright is a certified public accountant who spent more than 30 years with Arthur Andersen, prior to his retirement in 1998. During his career at Arthur Andersen, he led the audit of many public companies. Mr. Wright holds a Bachelor of Science degree in accounting from Loras College in Dubuque, Iowa.

    Racing Champions Ertl (www.rcertl.com) is a leading producer and marketer of innovative collectibles and toys targeted at adult collectors and children. The Company's diverse product offerings include scaled die-cast replicas of John Deere agricultural equipment and NASCAR stock cars, other licensed vehicle replicas, pre-teen toys, sports trading cards, racing apparel, souvenirs and collectible figures. These products are sold under the Company's market-focused brand names, including Racing Champions(R), Ertl(R), Ertl Collectibles(R), American Muscle(TM), AMT(R), W. Britain(R), Press Pass(R) and JoyRide Studios(TM). The Company supports its brands and enhances the authenticity of its products by linking them with highly recognized licensed properties including NASCAR, NHRA, John Deere, Harley-Davidson, Case, Polaris, Honda, Caterpillar, Ford, GM, Chrysler, Texaco, Universal Studios, Warner Brothers, Hit Entertainment, Nintendo, Sega and Electronic Arts. The Company's products are marketed through multiple channels of distribution, including mass retailers and specialty and hobby wholesalers and retailers, OEM dealers and to corporate accounts for promotional purposes. The Company sells through more than 20,000 retail outlets located in North America, Europe and Asia Pacific.

    Certain statements contained in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as "anticipate," "believe," "could," "expect," "intend," "may," "planned," "potential," "should," "will" and "would." Such forward-looking statements are inherently subject to known and unknown risks and uncertainties. Such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission. The Company's actual results and future developments could differ materially from the results or developments expressed in, or implied by, these forward-looking statements. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.