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FOR IMMEDIATE RELEASE
American Racing Equipment, Inc. Names Stephen L. Tooker Chief Executive Officer

RANCHO DOMINGUEZ, Calif. - March 27, 2007 - American Racing Equipment, Inc. has named Stephen L. Tooker, (47), Chief Executive Officer.

Mr. Tooker replaces Bob Wentworth, a partner at American Racing's parent company Platinum Equity, who served as CEO on an interim basis while a search for a permanent chief executive was conducted.

"Steve Tooker is the right person to guide American Racing through the next stage of its growth," Mr. Wentworth said. "He is an experienced senior executive and energetic leader who knows how to build and sustain market share in very competitive consumer products markets."

Prior to joining American Racing, Mr. Tooker served as principal and owner of 1 BY 1 Consulting, a Scottsdale, Ariz.-based consultant group advising clients in industries ranging from consumer packaged goods to telecommunications.

Previously, he was a senior executive with Spectrum Brands (formerly Rayovac Corporation) where he served as president of Spectrum's U.S. Home and Garden unit. He also held senior executive positions at The Dial Corporation and The Procter & Gamble Company. Mr. Tooker earned a Bachelor of Science degree from Miami University of Ohio and an MBA in Finance from Xavier University.

"I am very excited to take on this new challenge and look forward to working with a team that has built an outstanding reputation as one of the industry's premier brand names for high performance, custom automotive wheels," Mr. Tooker said. "My goal is to position the company to continue its growth and continue to develop and deliver the innovative products that our customer's demand."

For more information contact:
Victor Carrillo
The ID Agency Phone: (310) 545-2309
Fax:(310) 545-8098
Email:victor@theidagency.com

About American Racing Equipment, Inc.
American Racing Equipment, Inc. is a global consumer products firm specializing in stylish high performance vehicle wheels and accessories for enthusiasts and racing industries. Since 1956, American Racing Equipment has been a driving force in the aftermarket wheel industry. In 2006, American Racing celebrates 50 years of market leadership, with a diverse range of wheels and brands for most of the current motor vehicle wheel market segments.

About Platinum Equity
Platinum Equity is a global M&A&O(r) firm specialized in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, software, telecommunications, logistics, manufacturing, health care products, and entertainment distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has acquired more than 90 businesses with more than $15.5 billion in annual aggregate revenue at the time of acquisition. In 2005, Platinum was named the 18th largest private company in the United Stated by Forbes magazine.

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