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Michael R. Miller Named President of CRAGAR Industries, Inc.

17 November 1999

Michael R. Miller Named President of CRAGAR Industries, Inc.

    PHOENIX, Nov. 17 -- CRAGAR Industries, Inc.
(OTC Bulletin Board: CRGR) today reported that its Board of Directors has
appointed Michael R. Miller as CRAGAR's President, effective immediately.  Mr.
Miller, who is also a Director, Chief Operating Officer and Secretary of the
Company, replaces Michael L. Hartzmark, who will continue on as Chairman of
the Board and Chief Executive Officer.1
    The Board of Directors stated, "Mike Miller has done a wonderful job in
turning around our company and helping us to achieve the improved operating
results in 1999.  He has also been a major force in helping to transform and
reposition the Company with the previously announced transactions with WELD
RACING, Inc. and Carlisle Tire & Wheel Co.  We have great confidence that Mike
will do a great job in implementing the next stage of CRAGAR's plan, which is
to develop and implement a strategy to extend CRAGAR's brand into other
automotive products."
    CRAGAR Industries, Inc. is an international designer, producer, and seller
of custom wheels and wheel accessories for cars, trucks, vans, sport utility
vehicles, racing vehicles, and motorcycles.

    This release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 including, among others, statements
regarding the anticipated transaction with Carlisle Tire & Wheel Co., Inc. and
CRAGAR's intent to implement a new business strategy regarding the CRAGAR
brand name.  Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.  Future events
and actual results could differ materially from those set forth in,
contemplated by, or underlying the forward-looking statements.  Please refer
to the Risk Factors in the company's filings with the Securities and Exchange
Commission, which identify certain important factors that could cause the
actual results to differ materially from those contained in our forward-
looking statements.  These factors include, but are not limited to, the
bankruptcy of the company's primary customer, dependence on external
financing, product availability, market conditions, as well as general
economic conditions.  In addition, completion of the transaction with Carlisle
Tire & Wheel is subject to a number of conditions and there is no assurance
that the licensing arrangement will be completed successfully.  Assuming the
transaction is completed successfully, there is no assurance that Carlisle
Tire & Wheel and WELD RACING, Inc. will be able to successfully sell the
licensed products, which would have a material adverse effect on the royalties
CRAGAR anticipates from the licensing arrangements.  Finally, there is no
assurance that the company's brand extension strategy will be implemented, and
if so, whether it will be successful.

    For additional information, contact Michael L. Hartzmark, Chairman and
CEO, at 623-247-1300 extension 508 and mhartzmark@cragar.com.