Tampa, FL (December 10, 1999) -- Professional Sports Car Racing, Inc. ("SPORTS CAR") announced today that Michael Gue', President, and Raymond J. Smith, Chief Financial Officer, have resigned as directors, officers and employees of both SPORTS CAR and its parent, PSR HOLDING, Inc. ("PSR") effective immediately.

Additionally both Gue' and Smith have sold all of their stock of PSR to Thomas H. Milner and H. Doug Robinson, both of whom have been directors of PSR, along with Gue' and Smith since December, 1997. Robinson will assume the interim role of "managing director" of SPORTS CAR.

"We extend our thanks to both Michael and Ray for their contribution in SPORTS CAR's sanctioning of the highly successful inaugural year of the American Le Mans Series," said Robinson. "Our sincere wish for continued success go with them both."

SPORTS CAR will continue as the sanctioning body for the American Le Mans Series. As previously announced, Charlie Cook will assume the duties of Technical Director for the American Le Mans Series and will be the technical liaison between the Teams, ALMS and SPORTS CAR.