Giant Motorsports Reports Record Second Quarter Results

Six Month Revenue Grows 38.4%; generates record operating income

SALEM, Ohio, Aug. 17 -- Giant Motorsports, Inc. (BULLETIN BOARD: GMOS) announced yesterday record financial results for its second quarter ended June 30, 2004. The Company reported revenue of $33.9 million for the first six months of 2004, a 38.4% increase versus $24.5 million during the same period one year earlier. The Company reported income from operations of $937,678 versus $351,750 for the comparable six months of 2003.

Giant Motorsports' results were increased significantly by the acquisition of Chicago Cycles on April 30, 2004. Second quarter sales include approximately $7 million from Chicago Cycles for May and June 2004. Despite the substantial impact of legal, accounting and auditing fees of approximately $220,263, during the first six months of this year, associated with the compliance and maintenance requirements of being a publicly-reporting company, the Company reports record breaking operating income for the period ended June 30, 2004.

"We believe the record second quarter results combined with the continuing integration of the Chicago acquisition, demonstrates the effectiveness of our business model," said Greg Haehn, President of Giant Motorsports. "We are only sixty days into our first acquisition in the midst of a weak economy and yet we couldn't be more pleased with these impressive results."

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 http://www.andrewscycles.com/ and http://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.