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GIANT MOTORSPORTS TRIPLES RETAIL CAPACITY AT FLAGSHIP LOCATION IN CHICAGO Giant Motorsports, Inc. bringing the destination retailer business model to the motorcycle and powersports industry, has announced the close of a lease on a new 93,000-square-foot commercial building in a premier Chicago retail area, which represents a threefold increase in size of the company''s capacity in that key regional marketplace. The announcement was made by Greg Haehn, President of Giant Motorsports. ''We expect that the newly-designed Chicago facility will become our flagship dealership, serving as a model for our future acquisitions and re- deployment of regional Giant Motorsports retail centers in key markets throughout the United States,'' said Mr. Haehn. The Company is scheduled to complete its redesign of the new retail facility and become fully operational by March 1. Giant Motorsports acquired Chicago, Ill.-based Chicago Cycles in May of 2004. The dealership generated $40 million in revenues last year under its previous owners. Giant believes its destination retail model -- already proven successful in home building products and other major sectors of the economy -- along with other specific efficiencies, will enable significant increases in sales and revenue. Giant Motorsports, whose ''big-box'' retail model has made the company one of the nation''s leading sellers of motorcycles, all terrain vehicles and other powersports products, recently announced strong third quarter 2004 financial results. Revenues rose 107% to $26.3 million, while earnings before taxes were up 166% to $529,236. Nine-month revenues and earnings for 2004 were $60.3 million and $1.168 million respectively, an increase of 62% in revenues and an increase of 181% in pre-tax earnings over the comparable period for the previous year. ''The motorsports market continues to show strong expansion year over year,'' said Mr. Haehn. ''Motorsports manufacturers have sharply increased the depth and breadth of their product lines. Giant''s big-box business model, which provides marked advantages in inventory, distribution and financing, is best positioned to supply customers in this quickly changing and expanding marketplace.''
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