Cragar Industries, Inc. Retains Ken Waters as Strategic Plannist

9 July 1997
Cragar Industries, Inc. Retains Ken Waters as Strategic Plannist

    PHOENIX, July 9 -- Cragar Industries, Inc. , a
leading manufacturer of aftermarket wheels and accessories, announces the
addition of Ken Waters as a management consultant to assist with long term
strategic planning for the Company.  Waters has operated his own consulting
firm since 1989 serving an impressive list of clients from the high-tech and
automotive industries.  Previously, he served as chief executive officer
and/or president of several high-tech firms including MicroAge, Inc., Power Up
Software and ComputerLand.
    "We are very excited about our new relationship with Ken Waters," stated
Michael Hartzmark, president of Cragar.  "He brings tremendous talent to our
organization in the areas of strategic planning and distribution which will
help us to position Cragar for continued growth and success."
    Cragar, which recently completed a $5.6 million IPO, is experiencing a
revitalization with an emphasis on an aggressive new marketing program which
includes both a significant national advertising plan for automotive
enthusiast publications and a whole new dealer support program.  New product
development is also a priority with focus on new applications of the classic
Cragar and Tru-Spoke designs as well as a search for innovative new ideas for
wheel designs of the future.  Waters' role will be in charting the course for
Cragar's move into the 21st century.  In addition, he will be exploring new
opportunities for sales and distribution growth.
    "The Cragar name is one of the most powerful brands in the automotive
industry," continues Hartzmark.  "The addition of Ken Waters to the Cragar
team is one step in a larger plan for the rebirth of Cragar as the wheel
industry leader."
    For additional information, contact Lynn A. Howe, Investor Relations,
  602-247-1300.  Internet address:  http://www.prnewswire.com/cnoc.  To obtain
additional hard copies, call Fax-On-Demand at 800-758-5804, ext. 122432.
    In the content of this release, we may make forward-looking statements
regarding future events or the future financial performance of the Company.
Please refer to the Risk Factors in the Company's Registration Statement on
Form SB-2 which identifies some important factors that could cause the actual
results to differ materially from those contained in our forward-looking
statements. These factors include product availability, market conditions, and
competitive factors as well as general economic conditions.

SOURCE  Cragar Industries, Inc.