Action Performance and QVC in Deal to Reactivate GoRacing.com.

Business Editors/Sports Writers

PHOENIX--(BUSINESS WIRE)--April 5, 2001

Action Performance Companies Inc. (company) (Nasdaq:ACTN), the leader in the design, marketing, promotion, and distribution of licensed motorsports merchandise, today announced it has re-established its online interactive merchandising presence by entering into an agreement with QVC Inc. (QVC), a world leader in transactional television and interactive retailing, in which QVC will assume the day-to-day operations and related promotion of the GoRacing.com Web site as an online motorsports retail store that will market Action Performance die cast and apparel racing merchandise.

QVC will also integrate GoRacing.com with its weekly prime-time racing collectibles show. Under terms of a 10-year agreement, QVC will rebrand its popular "FOR RACE FANS ONLY" show to "FOR RACE FANS ONLY-as Sponsored by GoRacing.com," which will promote the GoRacing.com Web site as a 24/7 merchandiser of Action Performance products, as well as other products featured on the show. The rebranding is expected to occur by July 30, 2001.

QVC will also assume all costs associated with redesigning, restructuring and operating GoRacing.com, including processing online purchases. QVC will fulfill die cast orders, and Action will fulfill apparel orders.

All sales through the Web site will be treated as Action Performance sales, with QVC receiving a percentage of sales revenues. The Web site is expected to be operational no later than Oct. 1, 2001.

According to statements from Action Performance and QVC, this agreement represents an extension of an earlier agreement and is expected to be of significant benefit to both parties.

"Action Performance Companies' GoRacing property is a valuable asset which holds strong brand appeal with racing fans," remarked Bill O'Donnell, senior vice president of Merchandising for QVC Inc. "Acknowledging GoRacing on-air every Friday night as our first-ever program sponsor was a big step for us and reflects our bullish outlook on the long-term future of convergent TV- and PC-based retailing. There is clearly a large audience of dedicated fans out there that is hungry for the kind of distinctive products and quality customer service that Action and QVC together can provide."

Fred Wagenhals, Action Performance CEO, commented, "We are pleased to be able to build on our existing relationship with QVC and re-establish our Internet strategy with a partner offering such great merchandising and technical capabilities."

David Martin, Action Performance CFO, added: "This arrangement with QVC is an opportunity to re-energize GoRacing.com without capital investment or the risk of incurring operational costs. Further, it extends our product distribution capability and revenue-producing potential at a time when there is an increasing public awareness of NASCAR racing. QVC has the potential to transform GoRacing into an important source of sales and profit growth for Action Performance."

About QVC

QVC Inc., a $3.6 billion company, is an e-commerce leader marketing a wide variety of brand name products in such categories as home furnishings, licensed products, fashion, beauty, electronics and fine jewelry. QVC reaches more than 77 million homes in the United States.

Other divisions/subsidiaries include iQVC, Q Direct, QVC Publishing, Q Records, QVC Local, QVC Products/Works and Pioneer Studios. The QVC Studio Tour is located at the company's world headquarters in West Chester, Pa.

About Action Performance

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 sales and distribution channels, including the Racing Collectables Club of America (RCCA), trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.

This news release contains forward-looking statements regarding strategic agreements and potential business opportunities, including potential sales and profits. The company's actual results could differ materially from those set forth in these forward-looking statements. Factors that might cause such differences include, among others, competitive pressures, acceptance of the company's products and services in the marketplace, the success of new marketing programs, the company's ability to successfully execute its agreements with other parties, and other risks discussed in the company's Form 10-K, dated Sept. 30, 2000, on file with the U.S. Securities and Exchange Commission.