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Racing Acquisitions Offers $10 for Racing Champions

30 June 1999

Racing Acquisitions Offers $10 for Racing Champions

    NEW YORK, June 29 -- Racing Acquisitions, Inc. announced
today that it is offering $10 per share for all the outstanding common stock
of Racing Champions Corporation .  The offer is subject to
further due diligence and the signing of a definitive merger agreement.
    Racing Acquisitions, Inc. is a private New York corporation formed to
acquire the assets of Racing Champions Corp.