Bolingbrook, IL - April 10, 2003 - Racing Champions Ertl Corporation
today announced that it has changed its company name to RC2 Corporation
effective yesterday. The Company will also begin trading under a
new NASDAQ stock symbol: RCRC, effective today. Additionally, as
part of the integration of facilities with recently acquired Learning
Curve International, the Company has relocated its corporate office
from Glen Ellyn, Illinois to Bolingbrook, Illinois. The Company
plans to maintain its office facilities in Chicago, Illinois, Dyersville,
Iowa and Charlotte, North Carolina.
Curt Stoelting, Chief Executive Officer, commented, "The name
change to RC2 reflects the evolution of the Company's business which
today includes a number of very diverse product lines sold to an
extensive customer base through multiple channels of distribution.
We have evolved from our earlier days when the majority of our business
was racing-related. Today racing is still important to us but represents
only approximately 15% of our business. Our evolution started with
the acquisition of The Ertl Company in 1999 and has continued with
the acquisition in March of 2003 of Learning Curve International."
Peter Henseler, President, added, "Today, the Company has
a substantial presence not only in the adult collectors market but
in the traditional children's toy market as well. We sell through
multiple distribution channels with a major presence in large and
small chain retailers, independent toy, hobby, gift stores and OEM
dealer networks. We believe that we now have one of the broadest
customer bases in the industry and offer a well-diversified series
of market-focused brand names, closely linked with highly recognized
licensed properties. We believe our new name, RC2, is a broader
reflection of what the Company's business currently represents and
it provides us with ample opportunity to continue to grow and expand
our business."
RC2 (www.rc2.co.com or www.rcertl.com) is a leading producer
and marketer of high quality, 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.
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.
