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ACQUISITION OF RACING COLLECTABLES INC. AND RACING COLLECTABLES CLUB OF AMERICA INC. COMPLETED

 PHOENIX, Aug. 2 /PRNewswire/ -- Action Performance Companies Inc. (NASDAQ-NMS: ACTN, ACTNW) ("Action") announced today that it completed its acquisition of Racing Collectables Inc. ("RCI") and Racing Collectables Club of America Inc. ("RCCA").
 Under the terms of acquisitions Action issued 600,000 shares of its common stock in consideration of 100 percent of the outstanding shares of RCI and RCCA. RCI and RCCA had combined sales revenues and pretax earnings of $4,884,000 and $394,000 respectively for the nine months ended June 30, 1993.
 Fred Wagenhals, chairman of the board of Action, stated that V. Andrew Gill and Bruce S. Gill have been appointed to Action's board of directors and will remain in their current capacities as executive officers of RCCA and RCI, respectively, and further stated that the experience and dedication of these gentlemen will be invaluable to the combined entities.
 RCI and RCCA manufacture and market die cast miniature replicas of racing and race-related vehicles for the collectors market. RCI maintains more than 140 active licenses with NASCAR drivers, owners and sponsors and has license agreements with General Motors and Ford Motor Co. RCCA, an exclusive racing collectible club, has exceeded 20,000 active members. RCCA distributes a monthly catalog to its club membership as well as publishing quarterly news magazines.
 Action is a marketing and promotional company engaged in (i) the manufacture and marketing of die cast miniature vehicles as motor sports and country music collectibles and specialty promotional items; (ii) staging turn-key M-Car(TM) Grand Prix Races for charitable organizations; and (iii) the manufacture and marketing of pedal, electric and gas-powered mini vehicles, primarily as specialty promotional items.
 -0- 8/2/93
 /CONTACT: Edward M. Topham of Action Performance, 602-894-0100, ext. 107; or James S. Cole of Kachina Capital Corp., 602-264-0018, for Action Performance/
 (ACTN ACTNW)


CO: Action Performance Companies Inc.; Racing Collectables Inc.; Racing
 Collectables Club of America Inc. ST: Arizona IN: SU: TNM


JB-TM -- LA017 -- 8324 08/02/93 11:25 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
Words:329
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