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--COMPANY PRESS RELEASE--


RACING CHAMPIONS ERTL DOES IT AGAIN, TAKES HOME THREE "BESTS" IN
TOY CARS AND MODELS' 2002 READERS' AWARDS


Glen Ellyn, Ill. (April 3, 2003)-For the fourth straight year, Racing Champions Ertl (NASDAQ:RACN) has walked off with top honors in the hotly contested Best 1:18-Scale Manufacturer category in the 2002 Readers' Awards competition conducted by Toy Cars & Models magazine (www.toycarsmag.com). Winners are determined by write-in votes by the publication's readers and were announced by Merry Dudley, editor of Toy Cars & Model, who presented the Company with its awards during the 100th annual American International Toy Fair.

Racing Champions Ertl also scored a victory in the prestigious Best 1:18-Scale Model category with its 1964 Fort Thunderbolt Precision 100. Issued in celebration of the Ford Motor Company's centennial, the replica is a die-cast classic. Developed from original Ford blueprints and assembled from over 180 parts, it features all the extras: working hinges, working drivetrain, wired engines, fully trimmed interiors and much, much more.

Voted Best Advanced Model Kit, the company's 1958 Plymouth Belvedere is designed to give the advanced model-builder a real challenge, combining top-grade tooling with supercharged authenticity-everything, in short, that the serious hobbyist is looking for.

According to Peter Henseler, President of Racing Champions Ertl, "The competition for the Readers' Awards gets stiffer every year-and that just makes it all the sweeter when we win." He continued, "The fact that it's the collectors themselves who vote for these awards is really important to us. It's one thing for us to believe we're doing everything possible to create the best product out there, but it's another when our audience tells us we've succeeded. We're honored to win these awards-and I can promise that we'll continue to work hard to bring collectors the exciting products they're looking for."

Racing Champions Ertl (www.rcertl.com) is a leading producer and marketer of innovative collectibles and toys targeted at adult collectors and children. The Company's diverse product offerings include: agricultural, construction and outdoor sports vehicle replicas; automotive, high performance and racing vehicle replicas; traditional children's 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®, Learning Curve®, American Muscle™, AMT®, W. Britain®, Press Pass®, Eden®, Feltkids® and JoyRide Studios™. The Company supports its brands and enhances the authenticity of its products by linking them with highly recognized licensed properties from John Deere, Harley-Davidson, HIT Entertainment, Lamaze, Case, Polaris, Honda, Caterpillar, Ford, GM, DaimlerChrysler, NASCAR, NHRA, Texaco, Universal Studios, Warner Brothers, DIC Entertainment, Nintendo, Sega, Electronic Arts and Microsoft. The Company's products are marketed through multiple channels of distribution, including chain retailers, specialty and hobby wholesalers and retailers, OEM dealers, corporate accounts for promotional purposes, and direct to consumers. The Company sells through more than 20,000 retail outlets located in North America, Europe and Asia Pacific.


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