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Cragar Industries, Inc. Names Robert Prescott as CFO

11 July 1997

Cragar Industries, Inc. Names Robert Prescott as CFO

    PHOENIX, July 11 -- Cragar Industries, Inc.
announced the hiring of Robert L. Prescott as Chief Financial Officer,
expanding its executive management team that accentuates quality management
skills and professional talent.
    Mr. Prescott joins Cragar after 17 years in a variety of financial and
accounting positions including, most recently, Chief Financial Officer of
Batteries Batteries for everything in Phoenix, Arizona.  Mr. Prescott's
accomplishments include several computer system conversions to automate
finance procedures and departments, successful acquisition and merger
purchases and many re-engineering projects that decreased operating expenses
while increasing production.
    "Rob Prescott is a vital addition to the management team at Cragar,"
states Michael Hartzmark, president and CEO of Cragar.  "His knowledge and
experience fully complement the existing members of our executive team and he
will add new insight into reducing operating costs, improving reporting and
streamlining procedures."
    Mr. Prescott holds a B.S. in Finance and Accounting from Babson College
and an M.B.A. in Marketing from the University of Central Florida.  He is a
Certified Management Accountant and holds memberships in the Institute of
Management Accountants, the National Contract Management Association and the
Arizona Association of Industries.  Mr. Prescott is married with one child and
resides in Tempe, Arizona.
    Cragar Industries is an international manufacturer and marketer of
automotive wheels and wheel accessories for cars, trucks and racing vehicles.
    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.