FORT WORTH-DALLAS (September 1, 2000) -- Panoz Racing School will open its third school at Texas Motor Speedway, America's second largest sports and entertainment facility, beginning in January, 2001.

The announcement was made today by speedway and school officials on the opening day of the speedway's weekend long Grand Prix of Texas event.

Panoz Racing Schools, already in operation at the Road Atlanta (Georgia) and Sebring (Florida) racetracks, offers racing instruction to all skill levels, from the novice to the seasoned driver looking to improve his or her racing abilities. The school also offers corporate incentive and team building programs.

"We're very pleased to welcome the Panoz Racing School," said speedway general manager Eddie Gossage "This will be a great opportunity for not only Texas Motor Speedway, but for the Fort Worth area as well. The addition of the new road course means new business. The Panoz Racing School will be here an average of 10 days each month of the year which translates to more dollars to the local economy."

"Today's announcement means Panoz Racing School can now take aspiring and advancing racers to the inside track at Texas Motor Speedway where they'll learn on a specially built performance course just for the GT-class driver," said Jeff Purner, executive director of the racing school.

"This partnership with Texas Motor Speedway is an important addition to the regional racing and business communities and also to drivers looking to learn to race closer to home. Equally as important, the Texas Motor Speedway offers new experiences for advancing drivers who need track time or who want to plumb the depths of their racing skills by facing new environments."

The Panoz Racing School offers one, three and four-day Road Racing Programs, Lapping Days and Race Series events, and is certified to offer graduates regional or national SCCA licenses. Students will drive professionally prepared, pure performance-built, 5-liter Panoz GT-RA racecars.