CHAMPCAR/CART: Gold Coast Race Renewed Through 2003

CART, AUSTRALIAN PROMOTER RENEW AGREEMENT FOR FEDEX CHAMPIONSHIP SERIES RACE THROUGH 2003 SURFERS PARADISE, Queensland, Australia (Oct. 16, 1999) - Championship Auto Racing Teams and Gold Coast Motor Events - a partnership between...

CART, AUSTRALIAN PROMOTER RENEW AGREEMENT FOR FEDEX CHAMPIONSHIP SERIES RACE THROUGH 2003

SURFERS PARADISE, Queensland, Australia (Oct. 16, 1999) - Championship Auto Racing Teams and Gold Coast Motor Events - a partnership between the Queensland government and IMG - announced today they have come to terms on an agreement that will keep the FedEx Championship Series coming to this East Coast resort city through the year 2003.

The announcement was made by CART Chairman and CEO Andrew Craig and the premier of Queensland, Peter Beattie, as preparations continued for Round 19 of the 20-race FedEx Championship Series - this weekend's Honda Indy 300 on the streets of Surfers Paradise.

"This is a great partnership and we are pleased to extend it," said Craig. "The level of commitment from Gold Coast Motor Events is second to none. They know how to promote and how to provide race fans with superb entertainment throughout the weekend. Not only that, but we love coming here. Surfers Paradise on the Gold Coast is a world-class resort and is one of the most popular venues on our schedule with our drivers and teams."

The Surfers Paradise race weekend, first conducted in 1991, has grown to be one of Australia's leading sports entertainment events. The four-day attendance for last year's race was a quarter of a million, and another record crowd is expected in the coastal city by the time this weekend concludes. Sunday's race will be broadcast throughout the world to more than 190 countries in 19 languages and seen by more than 60 million viewers.

"Honda Indy is second to none in Australia and we are proud to be able to stage such a successful and popular event here in Surfers Paradise," said Beattie. "The race pumps millions of dollars into the Queensland economy and this year promises to be the best yet in terms of economic impact, spectator attendance and sponsor participation. We are extremely pleased to be able to extend our relationship with CART."

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Series Automotive , IndyCar