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Action Performance Companies Inc. Finalizes Credit Facility Agreement

3 October 2000

Action Performance Companies Inc. Finalizes Credit Facility Agreement

    PHOENIX--Oct. 3, 2000--Action Performance Companies Inc. Tuesday announced that it has closed its previously announced $30 million revolving credit facility agreement with Bank One.
    As previously announced, the credit facility extends to Dec. 31, 2002, provides for credit up to $30 million and is secured principally by accounts receivable, inventory and equipment. Interest under the agreement will be either the Bank One Corporate Base Rate plus .50 percent or LIBOR plus 2.5 percent.
    "We are pleased to have closed this financing on schedule and to have the financial flexibility that this agreement provides us," said David Martin, Action Performance chief financial officer.

    Action Performance Companies Inc. is the leader in the design, marketing, promotion 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 Racing Collectables Club of America (RCCA), online at goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.

    This press release contains forward-looking statements regarding Action's agreement with Bank One. The company's actual results could differ materially from those set forth in the forward-looking statements.
    Factors that might cause such a difference include, among others, competitive pressures, acceptance of the company's products and services in the marketplace, the company's ability to implement successfully its Internet strategy, the company's ability to integrate successfully acquired businesses, and other risks discussed in the company's Form 10-K for 1999, dated Sept. 30, 1999, which is on file with the U.S. Securities and Exchange Commission.