Redline and Global Electric Motorcars, LLC Extend Expiration Date of Non-Binding Letter of Intent

SAN DIEGO & MINNEAPOLIS--Aug. 1, 2003--Redline Performance Products, Inc. ("Redline(TM)") (AMEX:RED) today announced that they have extended the expiration date of their non-binding Letter of Intent with Global Electric Motorcars, LLC ("GEM"), from July 31, 2003 to August 15, 2003.

As previously announced, Redline and GEM entered into a non-binding Letter of Intent on June 27, 2003. Since that date, Redline has been negotiating the terms of a definitive contract assembly agreement with GEM under which GEM would assemble the 800 Revolt(R) snowmobile for Redline.

Mark A. Payne, President and Chief Financial Officer of Redline, commented, "We remain optimistic that we will reach an agreement that will support our launch for the upcoming season. We have been purchasing parts for assembly and testing the 800 Revolt snowmobile during this time."

There are no assurances that the parties will enter into a definitive agreement. The signing of a definitive agreement is subject to a number of conditions, which include but are not limited to, reaching agreement on terms and the approval of the Board of Directors of Redline and GEM.

About the 800 Revolt

Redline's 800 Revolt is a high-performance, 800cc snowmobile designed for trail riding. It is scheduled for introduction to select dealers for the 2003-2004 snowmobile season. The 800 Revolt incorporates patented and patent-pending technology -- including a T-15 rear suspension system and clutch isolation drivetrain system -- to produce a snowmobile that Redline believes will provide better handling, a smoother ride, more power, greater durability and more attractive styling.

For downloadable images of the 800 Revolt, please visit www.1redline.com/pages/press2.html.

About Redline Performance Products, Inc.

Redline Performance Products, Inc. designs, engineers and markets, and has begun to manufacture and sell, snowmobiles under the Redline(TM) brand name. The Company maintains its principal executive offices in San Diego, CA, and also has an office in Minneapolis, MN. Learn more at www.1redline.com.

Forward-Looking Statements

This news release includes "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect the Company's operations, financial performance and other factors discussed in its filings with the Securities and Exchange Commission ("SEC").