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The Colonel's International, Inc. Announces Agreement

17 September 1998

The Colonel's International, Inc. Announces Agreement to Sell Bumper Division

    MILAN, Mich., Sept. 17 -- The Colonel's International, Inc.
, (the "Company") today announced that it had entered into a
definitive agreement to sell substantially all of the assets of the Company's
wholly owned subsidiary The Colonel's, Inc. ("The Colonel's"), to Colonel's
Acquisition Corp., an investor group led by Philip B. Storm.  The sale is
subject to certain post-closing adjustments set forth in the definitive asset
purchase agreement.  In addition, the buyer will assume liabilities of The
Colonel's.  Terms of the sale were not disclosed.
    "This transaction stems from a desire to focus the Company's efforts on
expansion of our truck bed liner and truck accessories wholesale and retail
operations, as well as to pay down the Company's long term debt," said Donald
J. Williamson, the Company's Chairman of the Board and Chief Executive
Officer.  "We believe that this transaction offers us an attractive price for
the assets of our bumper division and that the cash from this transaction will
allow us to continue the expansion of our other lines of business."
    The Colonel's Truck Accessories, Inc., a wholly owned subsidiary of the
Company, manufactures truck bed liners and other truck accessories parts.
Parts are sold wholesale to new vehicle dealers and distributors and retail
through the company's 25+ owned retail outlet stores in the truck after-market
industry.  In April 1998, the Company completed the acquisition of Rugged
Liner, Inc. of Mt. Braddock, Pennsylvania and three related companies.  Rugged
Liner, Inc., which is now a wholly owned subsidiary of the Company also
produces truck bed liners and other accessories, focusing its efforts on
export sales.  Brainerd International Raceway, the Company's other subsidiary,
owns and operates Brainerd International Raceway, a multi-purpose motor sports
facility located in Brainerd, Minnesota.
    The Colonel's is a leading domestic manufacturer of plastic replacement
bumpers and facias for the crash parts after-market industry in North America.
Colonel's Acquisition Corp. will focus exclusively on growing these operations
following the closing of the asset purchase transaction.
    The closing of the sale of the assets of The Colonel's is subject to a
number of conditions precedent set forth in the definitive agreement,
including the requirement that the Company's shareholders approve the
transaction.  The Company plans to file a preliminary proxy statement relating
to the transaction with the Securities and Exchange Commission in the coming
weeks.
    The Colonel's International, Inc. is a holding company for three wholly
owned subsidiaries, The Colonel's, Inc. based in Milan, Michigan, manufactures
and distributes plastic bumpers and facias to the after-market industry.  The
Colonel's Truck Accessories, Inc., based in Owosso, Michigan, manufactures bed
liners, caps, tonneau covers and other truck accessory products and Brainerd
International Raceway, Inc. which owns and operates a multi-purpose motor
sports facility located in Brainerd, Minnesota.

    This news release includes certain statements that may be considered
forward-looking under the Private Securities Litigation Reform Act of 1995.
These statements are subject to a number of important risks and uncertainties
that could cause the contemplated transactions not to occur.