Joe Gibbs Racing, Home Depot announce new partner

Philips Lighting Joins ...

Philips Lighting Joins #20 Team

ATLANTA (Jan. 2, 2002) - Philips Lighting, the leading provider of innovative, high-quality lighting fixtures to worldwide commercial, residential and utility markets, has joined The Home Depot as an associate sponsor on the #20 Joe Gibbs Racing team for the 2002 NASCAR Winston Cup Series season.

"Philips Lighting is a great partner and they've been involved with motorsports in the past. We are happy to welcome them back as a part of our team," said Dick Sullivan, senior vice president of marketing and advertising for The Home Depot. "Having Philips Lighting join The Home Depot as a NASCAR sponsor is an excellent way to strengthen our mutual relationships with customers."

Philips Lighting joins a winning team. In just three short years on the Winston Cup circuit, Tony Stewart has wheeled the #20 Home Depot Pontiac to 12 wins, four pole positions, 40 top-fives and 66 top-10s while garnering almost $12 million in prize money. With a runner-up position in last year's season-ending point standings, Stewart and the #20 team enter the 2002 season as one of the favorites to win the Winston Cup championship.

"This is the perfect avenue for Philips Lighting to build our brand and increase sales," said Ed Crawford, senior vice president for Philips Lighting. "When it comes to sports marketing, NASCAR is the place to be. And within NASCAR, Joe Gibbs Racing is the place to be. Between the performance of Tony Stewart and the #20 team, as well as the loyalty of NASCAR fans, this is an excellent opportunity to make an impact in this sport and in our business."

"Joe Gibbs Racing is proud to be representing Philips Lighting on The Home Depot Pontiac," said J.D. Gibbs, president of Joe Gibbs Racing. "The success of our race team can be directly attributed to the strong support given to us by all of our loyal sponsors. It allows us to employ the best people and give them the best tools to do their jobs right the first time. Our commitment to quality mirrors those of our sponsors, and we're happy to count Philips Lighting as a member of our team."

-jgr-

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Series AUTOMOTIVE , NASCAR-CUP