Action Performance Appoints Two New Independent Directors to its Compensation and Governance Committees.

Business Editors

PHOENIX--(BUSINESS WIRE)--April 19, 2004

Action Performance Companies, Inc. (NYSE: ATN) appointed Anne L. Mariucci, 45, and Michael L. Gallagher, 60, to be the two newest members of the company's Board of Directors, bringing the number of independent Directors to seven and the total number of Board members to ten. Mariucci and Gallagher and will serve on the Governance and Compensation committees, respectively.

"We're truly excited to bring Anne and Michael on to the team," said Action Chairman and Chief Executive Officer Fred Wagenhals. "Their appointments demonstrate our continued commitment to meet or exceed recommended best practices in corporate governance by having a super majority of independent Directors and our committees composed entirely of independent Directors."

Mariucci served as President of Del Webb Corporation, the nation's leading developer of large-scale planned communities. Presently, she is a founding partner of Inlign Capital Partners, a private equity firm. Mariucci is a Director and member of the Investment Committee of the Arizona State Retirement System, a $22 billion pension fund covering Arizona, municipal and county employees. She serves on the Board of Directors of several organizations including Scottsdale Healthcare, ASU's W.P. Carey School of Business Dean's Council, and the Urban Land Institute. Mariucci was appointed by the Governor of Arizona to the Citizen's Finance Review Commission, the Governor's Blue Ribbon panel to improve the state's tax structure. Mariucci is also co-owner of the Phoenix Mercury WNBA franchise.

Gallagher is Chairman Emeritus and founding partner of the law firm of Gallagher & Kennedy. Gallagher has a strong background in sports, from his days as a college and professional baseball player and founding director of the Maricopa County Sports Authority, to his current service as Chairman of the Sun Angel Foundation, a charitable organization that supports Arizona State University athletics. Gallagher's public company Board member experience includes serving as Presiding Director and Chairman of the Corporate Governance Committee of Pinnacle West Capital Corp. He is also a Director of the Omaha World-Herald newspaper and is Chairman Trustee of the Peter Kiewit Foundation.

About Action Performance

Action Performance Companies Inc. (NYSE: ATN) is the leader in the design, promotion, marketing and distribution of licensed motorsports merchandise. The Company's products include a broad range of motorsports-related die-cast replica collectibles, apparel, souvenirs and other memorabilia. Action Performance markets and distributes products through a variety of channels including the Action Racing Collectables network of wholesale distributors, the Racing Collectables Club of America, QVC, goracing.com, trackside at racing events, direct corporate promotions, mass retail and department stores, specialty dealers. Additional information about Action Performance can be found at www.action-performance.com.