RACING CHAMPIONS ERTL TO MARKET TOMY'S "TOMICA TOWN"
IN THE UNITED STATES
Glen Ellyn, Ill. (February 11, 2003)-Under terms of an
agreement announced today by Racing Champions Ertl (NASDAQ: RACN),
the Company has entered into an agreement with Tomy, a leading Japanese
toy maker, to market that company's Tomica Town in the United States.
Product releases are expected to begin in August 2003.
Described as "a totally integrated play environment" that
children can create for themselves, Tomica Town is a miniature world,
complete with replicas of familiar icons, including buildings such
as McDonalds and Shell, and die-cast replicas of Toyota, Honda,
Nissan, and Mitsubishi automobiles. The die-cast vehicles and accessories,
produced in 1:64-scale, can be combined in extensive imaginative
play patterns by children in the 3-12 age range, and are also expected
to be popular with adult collectors. Although Tomica Town products
are category leaders in Japan, they have not been available in recent
years in the United States.
"This new license marks the beginning of an important strategic
relationship between Racing Champions Ertl and Tomy," said
Peter Henseler, President of Racing Champions Ertl. "Tomy's
excellent reputation for creating high-quality die-cast vehicles
and play sets is a significant complement to our own 55-plus years
of leadership in the die-cast vehicle field. Tomica Town products
are well known and have a strong following overseas. By launching
these products in the U.S. market, we will expand both the breadth
and depth of our product offerings."
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, 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.
