Action Performance and Speedway Motorsports Announce Sponsorship and Licensing Agreement for NASCAR Events.

PHOENIX--(BUSINESS WIRE)--Feb. 17, 1999--Action Performance Companies Inc. (Nasdaq/NMS:ACTN) today announced a five-year comprehensive sponsorship and licensing agreement with Speedway Motorsports Inc. (NYSE:TRK) through 2003, providing Action Performance with trackside licensing and merchandising rights for NASCAR's Winston Cup and Busch Grand National race events held at all Speedway Motorsports' venues.

Speedway Motorsports' facilities include Atlanta Motor Speedway, Lowe's Motor Speedway at Charlotte, Las Vegas Motor Speedway, Texas Motor Speedway, Bristol Motor Speedway and Sears Point Raceway. Currently, there are 10 NASCAR Winston Cup events including the Coca-Cola 600, NAPA 500 and the Primestar 500, and seven NASCAR Busch Grand National races held at these tracks each year. Action will hold the exclusive rights to market and sell commemorative event die-cast vehicles and Speedway Motorsports will exclusively use the Chase Authentics brand of commemorative event apparel products sold trackside to fans. Chase Authentics is owned by Action's subsidiary Chase Racewear, LLC.

The contract's sponsorship terms provide Action with a broad range of advertising and sponsorship campaigns including extensive signage at the venues and print advertising in the event programs. Action will be the title sponsor of various Performance Racing Network (PRN) radio broadcasts including Fast Talk with Benny Parsons and the newly-developed Action Performance Motorsports Talk Show for NASCAR's Winston Cup and Busch Grand National races.

Action also will be the exclusive title sponsor of the "Collector's Pavilion," a new event featuring a 10,800 square-foot open-air shopping mall at Atlanta Motor Speedway, Lowe's Motor Speedway, Las Vegas Motor Speedway and Texas Motor Speedway.

Said Fred W. Wagenhals, Action chairman, president and chief executive officer, "We are extremely pleased to have Speedway Motorsports as a marketing partner. This relationship will significantly enhance Action's corporate branding strategy by enabling us to have a greater trackside presence and raise brand awareness among the fans."

Said H.A. "Humpy" Wheeler, president and chief operating officer of Speedway Motorsports, "This multi-dimensional agreement will be a great sports marketing partnership. It allows us to market quality products from Action Performance, which will directly benefit our customers while giving Action a strong identity at all of our facilities. Anytime you combine the efforts of two industry leaders there is an opportunity to grow the sport by providing quality entertainment and related services and products."

Action Performance Companies Inc. is the leader in the design, marketing, 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 160,000-member Racing Collectables Club of America (RCCA), online through SpeedMall at www.goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.