Racing Champions(R) Teams Up With General Motors to Celebrate

                         the 50th 
                 Anniversary of the Chevrolet(R) Corvette(R) 

  GLEN ELLYN, Ill., Dec. 17 /PRNewswire/ -- Racing Champions (Nasdaq: RACN), 
today announced it will produce certain 50th-Anniversary Corvette die-cast 
replicas and die-cast and plastic model kits under an exclusive trademark 
license from Chevrolet Motor Division of General Motors.  Racing Champions is 
scheduled to release these special 50th-Anniversary Corvette replicas and 
model kits under its American Muscle(TM), AMT(TM), and Body Shop(TM) brands, 
beginning in June 2002.  
"We are delighted to be teaming up with GM to celebrate this important 
occasion," Robert Dods, Chairman and CEO of Racing Champions, said. 
"Corvettes have endured the test of time, and they've led the market in 
performance and styling for nearly half a century.  Our 50th-Anniversary 
Corvette program will include milestone Corvette vehicles and will help 
collectors experience the exciting heritage of this exceptional American 
sports car."  Dods concluded, "Anybody who's ever longed to own a Corvette is 
going to love collecting our replicas and building our die-cast and plastic 
model kits."  
From the day it was introduced in 1953, the Chevrolet Corvette has been an 
American legend, famous the world over for its sleek good looks and powerful 
Racing Champion's exclusive 50th-Anniversary Corvette product lines will 

    -- 1:18-scale American Muscle die-cast replicas.  Authentically detailed 
       with opening hood and doors, detailed engine, and authentic paint 
       schemes; presented in a custom-designed 50th-anniversary package. 
    -- American Muscle's Body Shop line of 1:18-scale die-cast kits in special 
       50th-Anniversary packaging featuring replicas pre-decorated in factory- 
       authentic colors. 
    -- AMT plastic model kits in 1:25-scale capturing the engineering and 
       design details that made the original car so unique. 

  Besides these exclusive entries, Racing Champions will also be producing 
Corvette 50th-Anniversary 1:64-scale die-cast replicas and kits. 
Founded in 1989, Racing Champions ( ) is a leading producer and 
marketer of innovative collectibles and toys sold in multiple channels of 
distribution and available at more than 20,000 retail outlets.  The company 
sells American Muscle(TM) collectible die-cast vehicle replicas; Racing 
Champions(R) NASCAR and NHRA die-cast racing replicas, souvenirs, and apparel; 
officially licensed die-cast and preschool products based on automobiles, 
trucks, agricultural, heavy equipment, and powered recreational and sport 
vehicles under the Ertl(R) brand; AMT(TM) model kits; and Press Pass(R) 
trading cards.  High-profile licensing partners include General Motors(R), 
NASCAR(R), NHRA(R), John Deere(R), Case IH(R), Polaris(R), Honda(R), 
Caterpillar(R), Ford(R), Chrysler(R), Texaco(R), and Warner Brothers(R). 
General Motors Trademarks used under license to Racing Champions Ertl, Inc.  
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SOURCE  Racing Champions  
-0-                             12/17/2001  
/CONTACT:  Tracy Zahorsky, Marketing Manager of Racing Champions, 
/Web site: /  
CO:  Racing Champions; General Motors; Chevrolet 
ST:  Illinois 
SU:  JVN  
-0- Dec/17/2001 17:11 GMT
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