Giant Motorsports Reports Record First Quarter Results

Quarterly Revenue Grows 16.7% Leading to 59.7% Increase in Pre-Tax Income

SALEM, Ohio, May 14 -- Giant Motorsports, Inc. (BULLETIN BOARD: GMOS) announced today record financial results for its first quarter ended March 31, 2004. The Company reported revenue of $11.2 million, a 16.7% increase versus $9.59 million during the same period one year earlier. The Company reported pre-tax income of $297,259, a 59.7% increase over the $186,140 reported for the first quarter of 2003.

The 2004 first quarter results include $141,000 in professional fees, versus $2,465 in the 2003 first quarter period. The increase in professional fees was a result of higher legal and accounting fees as a result of the Company becoming a publicly traded entity. The first quarter results do not include the acquisition of King's Motorsports, Inc. ["Chicago Cycle Center"], a privately-held retailer of Honda, Yamaha, Suzuki and Ducati motorcycles, ATVs and related powersports products, that was completed subsequent to the end of the quarter.

"We are excited by the strength of our first quarter results," said Greg Haehn, President of Giant Motorsports. "Our solid growth in sales of powersports products is a testament to our marketing strategy as the dominant provider in the Ohio market. Our acquisition of Chicago Cycle Center has positioned us for outstanding financial performance throughout the year. With Chicago's 9.2 million consumers, we are excited about the growth opportunities this market will provide. In addition, the development of our finance subsidiary will further increase our margins and generate significant revenues by offering in-house financing. We expect our second quarter to be even stronger and have never been better positioned for growth."

Giant Motorsports, Inc. through its wholly owned subsidiaries, W.W.Cycles dba Andrews Cycles and Chicago Cycle, is one of the largest multi-brand retailers of motorcycles, ATVs, scooters and personal watercraft powersport products in the United States. The company's products and services consist primarily of the sale and servicing of new and used motorcycles, all-terrain vehicles ("ATV's"), scooters and personal watercraft. In addition, the company sells parts and accessories, extended service contracts, aftermarket motorcycle products and maintenance and repair services. More information is located at www.andrewscycles.com and www.chicagocycle.com .

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.