Mooresville, N.C. (May 29, 2006) -- Michael Waltrip Racing announced this week that Robert B. Brannan III (Bob) will be the Vice President of Licensing for the NASCAR NEXTEL Cup Series multi-team operation, which will field Toyota Camrys in 2007.

"I'm really excited to become a part of Michael's organization as they prepare multiple full-time Toyota teams for competition next season," said Brannan, who will begin his new job in mid-June. "Michael Waltrip Racing is set to help Toyota's seamless entry into NASCAR's elite division. I'm pleased to have the opportunity to be associated with Michael's company and be a contributing member to the teams."

Brannan brings a wealth of financial and licensing expertise to Michael Waltrip Racing. He has a long list of credits and most recently was the President of Cabarrus Bank & Trust in Concord, N.C. Before joining the North Carolina bank, Brannan worked at Stoneacre and Financial Partners, LLC/NMP, LLC on a NASCAR licensing initiative for the member organization and race points program. Previously, Brannan was the Vice President and General Manager of Jeff Gordon, Inc. gaining more than 10 years of experience in the NASCAR industry. Brannan managed daily business affairs including negotiating contracts and administrating licensing programs.

"I had a unique opportunity to work with Jeff Gordon from 1995 to 2004 and through that experience I managed his licensing and business program," said Brannan. "As the licensing program expanded over a period of time, I was fortunate to develop a unique set of skills that will allow me to assist Michael Waltrip Racing as they grow."

From 1984 to 1994, The University of North Carolina at Charlotte graduate worked for Wachovia Bank and was Vice President and Corporate Banking Manager for the Cabarrus County banking centers. Brannan entered into the racing industry as the Chief Financial Officer and Licensing Manager of Motorsports Traditions. His years of financial and licensing experience will be valuable to Michael Waltrip Racing and it's racing endeavors.

"In building Michael Waltrip Racing to compete on all levels for the next decade, we are looking for experienced people to anchor the foundation of our organization, and Bob fits the mold," said Ty Norris, General Manager at Michael Waltrip Racing. Bob has more than 10 years of motorsports licensing experience and he is a trusted figure in a very difficult and ever-changing licensing world. NASCAR team and driver licensing is going through the most transitional period in memory and Bob has the experience to guide us in a positive direction. We are extremely fortunate that the passion for the motorsports industry was still burning in Bob and he was willing to join MWR. It is also fitting that he will remain on the Board of Directors for Cabarrus Bank & Trust so that he stays grounded in his great community."

-Michael Waltrip Racing