Clarification from SCCA regarding the Trans-Am name.

TOPEKA, Kan. (Dec. 19, 2003) -- With the announced agreement this week regarding the acquisition of Trans-Am Racing, LLC by Open Wheel Racing Series, LLC, Sports Car Club of America, Inc. has issued the following statement clarifying its ownership, and the current and future use of the Trans-Am® name:

Trans-Am® is a registered trademark of Sports Car Club of America, Inc. (SCCA), and it has been since 1970. In that time, SCCA has entered into licensing agreements with companies including, but not limited to, General Motors, Spalding, Panoz/Sanchez Group and Trans-Am Racing, LLC.

The agreement with Trans-Am Racing, LLC, the organizer of the 2003 Trans-Am® series, was for use of the name Trans-Am® and its operational and marketing rights for the 2003 season. That agreement expires after December 31, 2003.

SCCA is open to a future agreement and there have been discussions between SCCA and Trans-Am Racing, LLC regarding this. However, at this time, there is no such agreement in place for 2004.

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