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ACTION PERFORMANCE COMPANIES REPORTS ON ACQUISITION OF RACING COLLECTABLES INC. AND RACING COLLECTABLES CLUB OF AMERICA

 Neil Bonnett and Cale Yarborough Endorse Motorsports Collectables
 Texaco Promotional Program a Success
 PHOENIX, July 29 /PRNewswire/ -- Action Performance Companies Inc. (NASDAQ-NMS: ACTN, ACTNW) ("Action") announced today that it intends to consummate the acquisition of Racing Collectables Inc. ("RCI") and Racing Collectables Club of America Inc. ("RCCA") previously announced on May 25, 1993. Action intends to execute definitive acquisition documents on Friday, July 30, 1993. Additionally, Action expects to file a Form 8K and Proxy material with the Securities and Exchange Commission on or before Aug. 15, 1993. Additional information will be disseminated after the acquisitions are finalized.
 Action also announced that Neil Bonnett and Cale Yarborough have agreed to endorse and become spokespersons for RCI and RCCA, respectively. Bonnett, a highly respected Winston Cup veteran (18 career Winston Cup victories) and a popular TNN Motorsports television personality, has endorsed RCI's die cast collectible product line and agreed to become a spokesperson for RCI. Additionally, Yarborough, a three-time Winston Cup Champion, has become the official spokesperson for the Racing Collectables Club of America. Fred Wagenhals, president and chief executive officer of Action stated that endorsements from Bonnett and Yarborough, who enjoy tremendous respect and admiration within the motorsports community, speak to the quality of the RCI and RCCA product lines.
 Further, Action announces the successful completion of a marketing and promotional program completed for Texaco Refining and Marketing Inc. Under the marketing program Action delivered, to approximately 9,500 Texaco convenience stores, 80,000 1:24th-scale Davey Allison No. 28 Stock Car Banks which resulted in gross revenues to Action of $1,200,000 in its third quarter ended June 30, 1993. According to Texaco personnel, "The response was overwhelming from our customers and the Davey Allison Race Car Bank was an overwhelming success." This marketing program was completed prior to Allison's death. Action joins with the motorsports community in expressing its deepest sorrow and mourns the loss of a truly outstanding individual.
 Action anticipates reporting results for its third quarter ended June 30, 1993, on or before Aug. 15, 1993.
 Action is a marketing and promotional company engaged in (i) the manufacture and marketing of die cast miniature vehicles as motorsports 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- 7/29/93
 /CONTACT: Edward M. Topham of Action Performance Companies, 602-894-0100, ext. 107; or James S. Cole of Kachina Capital, 602-264-0018, for Action Performance Companies/
 (ACTN ACTNW) CO: Action Performance Companies Inc.; Racing Collectables Inc.;
 Racing Collectables Club of America Inc. ST: Arizona IN: HOU SU: TNM


LS-EH -- LA002 -- 7126 07/29/93 08:46 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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