Action Performance Signs Exclusive Five Year Licensing Agreement With Benetton Formula 1 Ltd.

23 March 1999

Action Performance Signs Exclusive Five Year Licensing Agreement With Benetton Formula 1 Ltd.

    PHOENIX--March 23, 1999--Action Performance Companies, Inc. , today announced that it has signed a five-year exclusive licensing contract with Benetton Formula 1 Ltd., whose current drivers are Giancarlo Fisichella and Alexander Wurz.
    Under the terms of the agreement, Action will create and market a line of die-cast replica collectibles of the Benetton Formula 1 race cars and driver and crew figurines. The licensing agreement is effective from January 1999 through December 2003.
    Said Fred W. Wagenhals, Action chairman, president and chief executive officer, "We are honored to announce the extension of our relationship with Benetton Formula 1 for an additional five years. Benetton Formula 1 is a competitive force on the race track and a brand that is recognized worldwide."
    Said David Warren, marketing director, Benetton Formula 1 Ltd., "We are very pleased to be associated with a company such as Action that is dedicated to the sport of auto racing. We are encouraged by the success that Action has had in the United States and look forward to the same level of success for Benetton Formula 1."
    Action Performance Companies, Inc., is the leader in the design, marketing, and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs, and other memorabilia. The Company markets and distributes products through a variety of channels, including the 160,000-member Racing Collectables Club of America (RCCA), online through SpeedMall at www.goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.