IMS Properties,Action Performance signs major licensing agreement

INDIANAPOLIS, Nov. 8, 1999 - Indianapolis Motor Speedway Properties (IMS) and Action Performance Companies, Inc. (Nasdaq NM: ACTN) today announced a major four-year agreement establishing Action Performance as the premier licensing partner for...

INDIANAPOLIS, Nov. 8, 1999 - Indianapolis Motor Speedway Properties (IMS) and Action Performance Companies, Inc. (Nasdaq NM: ACTN) today announced a major four-year agreement establishing Action Performance as the premier licensing partner for the Indianapolis Motor Speedway, the world’s greatest racing destination. The agreement grants Action exclusive and nonexclusive rights to produce die-cast cars, apparel, souvenirs and related merchandise for all major racing events at Indianapolis Motor Speedway, including the inaugural United States Grand Prix at Indianapolis Formula One race, the Indianapolis 500, the Brickyard 400, as well as rights to Indy Racing League teams and drivers represented by IMS Properties. “Action Performance is the premier motorsports merchandising company in the world, and IMS is the worldwide leader in motorsports entertainment,” said Tony George, president and CEO of Indianapolis Motor Speedway. “This partnership allows both companies to maximize their marketing strengths and capitalize on the global popularity of racing.” As part of the agreement, Action Performance will assume a lead role in the global marketing activation of the inaugural United States Grand Prix, to be held at Indianapolis Motor Speedway on Sept. 24, 2000. Action will implement a comprehensive merchandising program around the event, including the design and creation of the United States Grand Prix event car, which will be offered on-site at Indianapolis Motor Speedway in 1:18, 1:43, and 1:64-scales exclusively from Action. In addition, the agreement grants Action rights to produce United States Grand Prix die-cast cars and merchandise for the retail channel. “Indianapolis Motor Speedway is hallowed ground in the world of motorsports, and we are excited about working with IMS Properties to bring the unique excitement of these marquee races to motorsports fans everywhere,” said Fred W. Wagenhals, chairman, president, and CEO of Action Performance Companies. “This agreement is another major example of Action Performance’s strategic commitment to all forms of motorsports worldwide.” The agreement also grants Action rights to produce die-casts, apparel and other merchandise for legendary Indy champions such as Arie Luyendyk, former Indy Racing League champion and current NASCAR favorite Tony Stewart, and current Indy Racing League standouts Scott Sharp, Greg Ray, Eddie Cheever Jr., Scott Goodyear, and other teams and drivers represented by IMS Properties. Action also is granted rights to produce a 1:18-scale Indianapolis 500 event car in 2000, with exclusive rights for the event car beginning in 2001. As part of the agreement, Action also gains additional die-cast and merchandising rights for the Brickyard 400, one of NASCAR’s premier racing events. The Indianapolis Motor Speedway is home to the two largest single-day sporting events in the world - the Indianapolis 500 and the Brickyard 400. Another event could be added to that list in 2000 when Formula One returns to America for the United States Grand Prix at Indianapolis. IMS also owns the Walt Disney World Speedway, where the Indy Racing League annually kicks off its season, and is a partner with International Speedway Corporation in the construction of a new Chicago-area track that will open in 2001. Action Performance Companies, Inc., is the leader in the design, marketing, promotion 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 170,000-member Racing Collectables Club of America (RCCA), online through SpeedMall at goracing.com, trackside at racing events, mass retail department stores and a worldwide network of wholesale distributors and specialty dealers.

-IRL/IMS-

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Series Automotive
Drivers Tony Stewart , Eddie Cheever , Scott Sharp , Scott Goodyear , Tony George