OAKWOOD HOMES BROADENS RACING PROGRAM

November 24, 1998 (Charlotte, N.C.)---Oakwood Homes Corporation announced today it will broaden its racing program to include the NASCAR Craftsman Truck Series in 1999. Oakwood Homes signed on as primary sponsor of the No. 52 Oakwood Homes Chevrolet owned by Ken Schrader. The No. 52 Oakwood Homes Chevrolet will compete full-time in the 25-race NASCAR Craftsman Truck Series schedule. A driver will be named at a later date.

"We are very excited to extend our racing involvement to the NASCAR Craftsman Truck Series," said Jim Steinmeyer, Senior Vice President of Oakwood Homes. "Along with our other motorsports programs, we are now able to expand into new racing markets. This series will help strengthen our brand awareness in the western, mid-western and north-eastern regions. It will also solidify our association with Schrader. We have been with him since he first moved to North Carolina and are glad to further our relationship."

Oakwood Homes' entrance into the NASCAR Craftsman Truck Series will further extend its roots in motorsports racing. Oakwood Homes currently sponsors the Andy Petree Racing Busch Series entry, which will be driven by Schrader in 15 races during the 1999 season, and the NHRA Federal-Mogul Dragster driven by two-time national champion Rick Santos. "I have a great relationship with Oakwood Homes and I am very excited to further expand our racing opportunities," said Schrader. "We are looking at a variety of opportunities for a driver of the No. 52 Oakwood Homes Chevrolet. There are a lot of possibilities out there and we just need to pick one that fits both of our needs."

The No. 52 Oakwood Homes truck will be under new leadership at the racetrack in 1999. Wally Brown, Jr. will move into the seat of crew chief. Brown is a graduate of Widener University in Chester, Pa., with a Bachelor of Science in Mechanical Engineering. He served as engineer on the No. 52 Chevrolet for the past two racing seasons.

"This is a great opportunity for me and our team," said Brown. "We are coming on board with a new sponsor who is very excited to go truck racing and we will be a young team that can, and will, grow together. All of these variables are in our favor and that's going to be good."

With Oakwood Homes involvement in the NASCAR Craftsman Truck Series, they are fine tuning their promotional plans to include all three of their racing venues. Autograph sessions and show truck appearances are planned at Oakwood Homes sales centers across the nation.