Moroso Motorsports Park purchase agreement

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Local Automotive and Racing Enthusiasts Purchase Legendary Moroso Motorsports Park Multi-Million Dollar Initial Investment in Track and Facility Upgrades at "All New Moroso Motorsports Park" JUPITER, FL (AUGUST, 2008) -- A triad of local ...

Local Automotive and Racing Enthusiasts Purchase Legendary Moroso Motorsports Park
Multi-Million Dollar Initial Investment in Track and Facility Upgrades at "All New Moroso Motorsports Park"

JUPITER, FL (AUGUST, 2008) -- A triad of local automotive and racing enthusiasts, Raymond Graziotto, Joseph G. Lubeck and J.C. Solomon II, announced today the purchase of Moroso Motorsports Park . The partnership is making a multi-million dollar investment in track and facility upgrades to the legendary Moroso Motorsports Park , previously owned and operated since 1981 by the renowned Moroso racing family.

Initial changes include all new bathrooms and concessions, and a new track layout that will allow for simultaneous use of the new Road Course and Drag Strip. The "All New Moroso Motorsports Park" will reopen in the Fall 2008, under new ownership and management. Moroso Motorsports Park will continue to be open to the public after its grand reopening at 17047 Beeline Highway, Jupiter, FL. For more information contact Kelly Birkenhauer, VP Sales, 561-622-1400. www.RaceMoroso.com

"We are very proud to have entered into this venture, building upon the legendary foundation that is the Moroso racing family history," said Joseph G. Lubeck. "As automotive and racing enthusiasts, we know the all new Moroso Motorsports Park to be the ideal motorsports property. We are also proud to announce the Palm Beach Driving Club which will create a Club environment for amateurs and enthusiasts to exercise their cars on a real racetrack."

The new partnership team is collaborating with world-renowned track and amenities designers in the formation of a 5 Star landmark racing, family fun and tourism destination. Industry expert Wayne McMurtry is consulting for the All New Moroso Motorsports reconstruction project. McMurtry has a proven history developing premium drag strips. George Case, one of the most well-respected track operators in the country, is the new Vice President, Drag Racing Operations. The brand new Road Course is designed by in-house experts overseen by world-class Road Course Engineer, Martyn Thake. In addition, the Moroso Motorsports Park team has employed Brian Prowell, a renowned Asphalt Engineer to design the surface of the Road Course for the application and the South Florida climate. The newly modernized Kart Center has made a myriad of changes aimed at servicing the rental Go Kart market.

"I am excited about the continuation of the Moroso legacy and am looking forward to my continuing role as a consultant and trusted advisor to the Park," said former owner, Susan Moroso Strecker. "With the revitalization of the property, Moroso Motorsports Park is a most luxurious and heartpounding experience for racing and family fun."

Moroso MotorSports Park Offers:

^Õ Moroso Motorsports Park - 220 acres of wooded property in NW Palm Beach County, open

year round, hosting over 1,000 events, road races, concerts and festivals annually.

^Õ A 2.0-mile eleven-turn Road Course, an all concrete NHRA sanctioned ¼-mile state-of-the-art

Drag Strip, 8/10 mile Kart Track, RallyCross, Drifting and Pocket Bike facilities. Aluminum

spectator grandstands.

^Õ A newly reconfigured 40 foot wide, 2-mile Road Course, adhering to the highest FIA safety

standards, and featuring several areas of paved run-off. Soft wall barriers to compliment the

tire barriers and concrete walls. Road Course enhanced with the addition of lights to allow for

night testing as well as 24-hour around the course events.

^Õ A new all concrete Drag Strip, featuring concrete retaining walls extending all the way to the

shutdown area.

^Õ A Compulink Fiber Optic timing and scoring system, with new LED lights.

^Õ The Palm Beach Driving Club is a private equity Driving Club, the first of its kind in the

Southeastern United States.

^Õ Permanent rest rooms, concession stands, all new merchandising and souvenirs.

^Õ On-site Kart Storage, Service and Sales.

^Õ Private Coaching. "Street Smarts" Defensive Driving School. On-site Road Racing School,

and a 200' x 300' asphalt skid pad.

^Õ Phase II: Clubhouse, Locker Rooms, Private and Public Restaurants, and multiple lounges.

^Õ "Club Garages" -- to accommodate the ultimate in convenient on-site vehicle storage.

^Õ A 40,000 square foot Drivers' Pavilion offering a mix of private and public-use spaces for

visitors and racers. The Drivers' Pavilion offers a complete country club experience with

Clubhouse, restaurant & bar for after racing socializing.

^Õ A "Members Only" portion of the pavilion with locker rooms and an observation deck.

Moroso Motorsports Park is located on over 200 acres of wooded property in NW Palm Beach County.

With auto racing being the #1 spectator sport in the country, events at the Park draw an estimated one million people per year, with media coverage impacting several million more. Moroso Motorsports Park has previously created an economic impact on Palm Beach County and surrounding areas in excess of $25 million. The All New Moroso Motorsports Park has projected to double that figure. In addition to the myriad of motorsports events, the park is also used for parties, defensive driving schools, festivals, corporate ride and drives, concerts and racing schools.

Moroso Motorsports Park's Road Course hosts Championship Cup Series (CCS), Sports Car Club of America (SCCA), Radical of Florida Inc. Racing School, Skip Barber Racing School, the Ferrari Cavallino Classic, Porsche BMW Owner's Club (PBOC), the Florida Sportscar Championship - the first Moroso - produced Road Racing Series complete with a cash payout, as well as car club events, and television productions such as Pinks All Out and Miami Ink. In addition Moroso is open year-round for private rentals. www.RaceMoroso.com

-credit: mmp

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