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--COMPANY PRESS RELEASE--


JOYRIDE STUDIOS FIRES UP THE FUN WITH
ELASTA BLASTA™ FOAM BALL SHOOTERS


Glen Ellyn, Ill. (February 12, 2003)-Designed to shoot soft foam balls, two new Elasta Blasta products from JoyRide Studios, a brand of Racing Champions Ertl (NASDAQ:RACN), are on target to fire up the fun for junior marksmen ages 8 and older.

The Elasta Blasta compound bow and slingshot are designed for indoor or outdoor use. Both come with three soft foam balls for rapid-fire shooting and pinpoint accuracy.

"Kids have always loved to play with bows and slingshots," said Bill Walters, Managing Director of JoyRide Studios. "We've translated that fascination into toys that will be a big hit with the kids and their parents as well. The youngsters are going to love the realism of these new Elasta Blasta products, and their parents will appreciate the safety provided by the soft foam balls-especially if the family room is the indoor shooting range."

The bow, with a suggested retail price of $14.99, and the slingshot, at $9.99, will be available in early summer.

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.


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