Giant Motorsports Revenue Rises 107% to $26.3 Million in Q3 '04

Earnings Up 166% for Quarter as Company Executes Expansion and Acquisition Plan

SALEM, Ohio, Nov. 16 -- Giant Motorsports, Inc. (BULLETIN BOARD: GMOS) , implementing the destination retailer business model in the motorcycle and powersports industry, announced today record financial results for its third quarter, ended September 30, 2004. Revenues for the third quarter of 2004 were $26.3 million, compared to $12.7 million reported for the quarter ending September 30, 2003, representing an increase of 107%. Revenues for the first nine months of 2004 were $60.3 million, an increase of 62% over the $37.3 million reported for the nine months ended September 30, 2003.

The Company also saw profitability and margins expand during the quarter. Gross margin for the quarter ended September 30, 2004 was $3.2 million, or 12.3% of sales, compared to $1.2 million, or 10.0% of sales, for the comparable quarter in 2003. In addition, operating margin for the nine months ended September 30, 2004 was $1.7 million, or 2.8% of sales, compared to $590,776, or 1.0% of sales, for the same period last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased in both the third quarter and nine month periods of 2004. For the quarter ended September 30, 2004, EBITDA reached $529,236 compared to $199,204 for the quarter ended September 30, 2003, an increase of 166%. The Company reported EBITDA of $1.3 million for the nine months ended September 30, 2004, as compared to $454,483 for the same period last year, an increase of 181%.

Giant Motorsports' record results continue to increase as the Company executes its growth strategy, including further implementation of its "big box" destination-retailer business model, as evidenced by the acquisition of Chicago Cycles on April 30, 2004.

"We are obviously very pleased with our third quarter and year-to-date results for 2004," said Greg Haehn, President of Giant Motorsports. "We believe our record numbers continue to prove the validity of our business model as we capitalize on the consolidation opportunities available in our market.

"This management team is fully committed to growth-in revenues, earnings and shareholder value-and we plan to further maximize the operating and financial performance by achieving specific efficiencies. By consolidating functions within the Company, we feel we can reduce overall expenses, simplify management and create economies of scale, which this quarter we have done," said Mr. Haehn.

"In addition to internal growth, we plan to increase revenues by attempting to effectuate potential acquisitions in major markets around the nation with strong buyer demographics that, due to management deficiencies or under-capitalization, are unable to realize their market share potential, and can benefit substantially from our systems and operating strategy. We are excited about our growth prospects and feel this is only the beginning."

About Giant Motorsports, Inc.

Giant Motorsports Inc., a high-revenue growth public company in the expanding sports and recreational vehicle sector, is a destination retailer for motorcycles, all-terrain-vehicles (ATVs), motor scooters and personal watercraft. Through implementation of a business strategy based on a regional "big-box" retailer model, Giant believes it has become a leading multi-brand motorsports retailer in the United States. The Company is attempting to leverage revenue and earnings growth through accretive acquisitions in new regions, through internal growth, and through utilization of rollup and consolidation strategies in the fragmented powersports national dealer environment. The Company has two wholly-owned subsidiaries, W.W. Cycles dba Andrews Cycles and Chicago Cycles. More information is located at http://www.andrewscycles.com/ , http://www.chicagocycle.com/ or http://www.trilogy-capital.com/ .

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute forward- looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: sales of its motorcycle and powersports products; the implementation and expansion of Giant Motorsports business strategies; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Giant's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Giant's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Giant undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.