Automotive Performance Group, Inc. Appoints Dean M. Willard Chairman of the Board; Andrew L. Evans to Remain President, CEO and Director.

TEMPE, Ariz.--(BUSINESS WIRE)--Sept. 23, 1998--AUTOMOTIVE PERFORMANCE GROUP, INC. (OTC BB: RACG), a full-service owner and operator of high performance automotive businesses and brands, announced today that it has elected Dean M. Willard to serve as Chairman of its Board of Directors, and as Chairman of its Executive Committee, bringing to nine the number of Members on its Board.

Andrew L. Evans, who was previously Chairman of the Board, will remain President and Chief Executive Officer, as well as a Director of the Company.

Said Mr. Evans: "We are honored to have a distinguished and seasoned executive as Mr. Willard lead our Board. His vast experience will be invaluable as we continue the growth strategy for Automotive Performance Group."

Mr. Willard is the principal owner of Willard Associates, Inc., a consulting company, and a principal shareholder in Advanced Chemistry & Technology, Inc., Garden Grove, California. He is also a Member of the Board of Directors of American Pacific Corporation, Las Vegas, Nevada (NASDAQ: APFC).

From 1989 to 1995, Mr. Willard served as Chief Executive Officer of Courtaulds Aerospace, Inc., Glendale, California. Courtaulds was formed in 1989 following the acquisition of Products Research & Chemical Corporation (PRC), a New York Stock Exchange company, of which Mr. Willard was the President and Chief Executive Officer from 1972 to 1989. Courtaulds Aerospace currently employs some 2,000 employees and has revenues of $300 million with operations in 17 countries.

During his tenure at PRC, a chemical products company serving the worldwide aerospace market, Mr. Willard had grown revenues to a highly profitable $125 million with 1200 employees when it was acquired in 1989 by Courtaulds Plc, London, England, for $325 million, or 32 times earnings and three times revenues. For the two years preceding the acquisition, PRC had been selected by Forbes as one of the best small companies in America. The Company management maintains a unique relationship with its employees and established the first ESOP of a public company in California.

"I am delighted to be working with the Board of APG and look forward to contributing to its future growth as we position the Company as a successful 'brands' entity," stated Mr. Willard.

Under Mr. Willard's leadership, PRC made some very important contributions to U.S. military technology, by developing for McDonnell Douglas radar absorbing coatings for America's stealth bomber, as well as sonar attenuation for the U.S. submarine program.

Mr. Willard had directed a very successful acquisition program at PRC having completed more than a dozen acquisitions in its final ten years of business. He had secured numerous financial relationships with such Wall Street investment banking firms as Merrill Lynch, Prudential, Dean Witter, and others, raising public funds through primary and secondary offerings.

Prior to his career with PRC and Courtaulds, Mr. Willard was a Senior Accountant with Price Waterhouse from 1968 to 1972.

Mr. Willard, 52, is a Certified Public Accountant with a B.S. Degree from California State University, Long Beach. He has received numerous awards and honors including Honorary Fellow UCLA College of Letters and Sciences, awarded Nobel Prize Replies by Nobel Laureate Donald Cram for contributions to the Department of Chemistry at UCLA, and was appointed by President Ronald Reagan to represent him with the Simi Valley Community to oversee the Presidential Library.

Automotive Performance Group is a full-service owner and operator of a variety of high performance automotive businesses including Royal Purple Motor Oil, which produces synthetic oil and chemical products favored by many racing teams and manufacturers, and Klein Engines and Competition Components, Inc., a leading manufacturer of high performance engines. In addition, APG owns Team Scandia, which last year became the second team in history and the first in a quarter century to record victories in three major North American racing series in the same year. Team Scandia won the 12 Hours of Sebring (Sports Car road racing), the Mopar Parts Nationals at Englishtown, N.J. (NHRA Top Fuel drag racing), and the Las Vegas 500K (IRL Indy car racing) in 1997. APG owns 50 percent of Scandia Bodine Racing, a competitor on the prestigious NASCAR Winston Cup stock car racing circuit. APG also has marketing and personal services agreements with its contracted drivers Jimmy Kite, Cristen Powell and Brett Bodine.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Automotive Performance Group, Inc.'s business and prospects and cause actual results to differ materially from these forward-looking statements.