RACING CHAMPIONS ERTL ANNOUNCES LICENSING AGREEMENTS
WITH FOUR LEADING AUTO MAKERS
Glen Ellyn, Ill. (February 6, 2003)-Racing Champions Ertl
(NASDAQ: RACN) announced today that it has entered into licensing
agreements with four leading automakers-Honda/Acura, Mazda, Mitsubishi,
and Toyota. Under terms of the agreements, Racing Champions Ertl
is delivering die-cast car replicas to the marketplace now, with
further product introductions scheduled for later this year.
"The expansion of our licensing agreements to include these
four key companies reflects our continuing growth and significantly
expands our automotive licensing profile," said Peter Henseler,
President of Racing Champions Ertl. "It also reflects our continuing
commitment to bring collectors and hobbyists absolutely authentic,
officially licensed scale-model reproductions."
According to Henseler, the four new licenses are the cornerstone
of the Company's plans to make its The Fast and The Furious brand
a stand-alone category that will include a full line of collectible
toys and hobby products and will be marketed through existing channels
of distribution as well as new retail outlets such as automotive,
music, and video retail chains.
About Racing Champions Ertl
Racing Champions Ertl (www.rcertl.com) is a leading producer and
marketer of innovative collectibles and toys targeted at males of
all ages. The Company's diverse product offerings include scaled
die-cast replicas of John Deere agricultural equipment and NASCAR
stock cars, other licensed vehicle replicas, pre-teen toys, sports
trading cards, racing apparel and souvenirs, and collectible figures.
These products are sold under the Company's market-focused brand
names, including Racing Champions®, Ertl®, Ertl Collectibles®,
American Muscle™, AMT®, W. Britain®, Press Pass®,
and JoyRide Studios™. The Company reinforces its brands and
enhances the authenticity of its products by linking them with highly
recognized licensed properties including NASCAR, NHRA, John Deere,
Harley-Davidson, Case, Polaris, Honda, Acura, Caterpillar, Ford,
GM, Chrysler, Texaco, Universal Studios, Warner Brothers, Hit Entertainment,
Nintendo, Sega, and Electronic Arts. The Company's products are
marketed through multiple channels of distribution, including mass
retailers and specialty and hobby wholesalers and retailers, OEM
dealers, and to corporate accounts for promotional purposes. The
Company sells through more than 20,000 retail outlets located in
North America, Europe, and Asia Pacific.
Certain statements contained in this release contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements may be identified by the use
of forward-looking words or phrases such as "anticipate,''
"believe,'' "could,'' "expect,'' "intend,''
"may,'' "planned,'' "potential,'' "should,''
"will'' and "would.'' Such forward-looking statements
are inherently subject to known and unknown risks and uncertainties.
Such uncertainties and other operational matters are discussed further
in the Company's quarterly and annual filings with the Securities
and Exchange Commission. The Company's actual results and future
developments could differ materially from the results or developments
expressed in, or implied by, these forward-looking statements. The
Company undertakes no obligation to make any revisions to the forward-looking
statements contained in this release or to update them to reflect
events or circumstances occurring after the date of this release.
