Action Performance Companies, Inc. to Announce First Quarter 2003 Results on January 27, 2003.

Business Editors

PHOENIX--(BUSINESS WIRE)--Jan. 22, 2003

Action Performance Companies, Inc. (NYSE: ATN) will release financial results for the first quarter ended December 31, 2002 on the morning of Monday, January 27. Subsequently, the Company will host a teleconference to discuss the Company's results and will discuss future plans and prospects.

Any investor or interested individual can listen to the teleconference, which is scheduled to begin at 9:00 a.m. MST (11:00 a.m. EST) on January 27 via the Internet at www.action-performance.com. This website will host an archive of the teleconference for 30 days.

A telephone playback will be available from 11:00 a.m. MST on January 27 through 5:00 p.m. MST on January 28. The playback can be accessed by calling toll-free [phone], or for international callers [phone].

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 and online at nascar.com. Additional information about Action Performance can be found at www.action- performance.com.