Champ Car World Series Statement on the sale of Cosworth Racing

INDIANAPOLIS (November 15, 2004) -- What follows are statements made by Champ Car World Series co-owner Kevin Kalkhoven following today's purchase of Cosworth Racing by Mr. Kalkhoven and fellow series co-owner Gerald Forsythe. If used in print, these statements should be attributed to Kevin Kalkhoven.

"Cosworth has a truly wonderful heritage of engineering that we have great respect for. We want not only to continue on from that great tradition but also move into the future with new projects and new ideas. There are many new markets we want to develop. The company has been doing a lot of work on low pollution marine engines for example, which should be very appropriate in the coming years. I believe there's a big opportunity in that area.

"Broadly, we're looking at the whole area of engine development, but also in new markets such as supplying kits to the emerging tuner car market. We also intend to continue working with automotive manufacturers around the world on an even more expansive basis than Cosworth has in the past.

"The second reason is Cosworth's Formula 1 heritage. We are strongly committed to continuing that great and very successful heritage into the future.

"Cosworth has been a performance engine supplier to the American motor racing scene for forty years and we wish to continue that heritage and allow it to develop into the future. As we go forward, Cosworth will be an engine developer for the supporting series of the Champ Car World Series. Cosworth will develop affordable engines for our ladder series.

"Being able to control our engine supply allows us to significantly determine the future of all of our race series from Champ Cars through the ladder system. Having control of its engine design and technology for the future is a key to the development of the Champ Car World Series and our developmental series. This will enable us not to be dependant on any particular manufacturer."

-ccws-