SUPERCROSS: Dorna and Clear Channel reach agreement

AURORA, Ill. and MADRID, Spain (December 28, 2001) - Clear Channel Entertainment's motor sports division and Dorna Off-Road announced today they have signed an agreement to jointly produce the FIM Supercross World Championship, beginning with...

AURORA, Ill. and MADRID, Spain (December 28, 2001) - Clear Channel Entertainment's motor sports division and Dorna Off-Road announced today they have signed an agreement to jointly produce the FIM Supercross World Championship, beginning with the 2002-03 season.

The agreement between Clear Channel Entertainment and Dorna combines the resources of the recognized North American and international leaders in the promotion and production of motorcycle racing to position the FIM Supercross World Championship as the preeminent motorcycle racing series in the world, by creating one circuit comprised of events around the world. The FIM, Fédération Internationale de Motocyclisme, is the only recognized body to govern motorcycling events at the international level.

Clear Channel Entertainment produces more than 200 motorcycle events annually, including EA SPORTS Supercross, the National Arenacross Series presented by Speed Stick, the Formula USA Arenacross Series of regional events, IFMA Freestyle Motocross events, the Formula USA National Dirt Track Series, the Formula USA National Road Race Series, and the CCS presented by Lockhart Phillips USA for sportsmen road racers. The company also stages 150 four-wheel events sanctioned by the United States Hot Rod Association and the International Hot Rod Association.

In addition to staging the FIM Supercross World Championship, for which it holds the rights from the FIM, the Dorna group holds the commercial, media and TV rights to produce the FIM Road Racing World Championship, Grand Prix "Moto GP", the FIM Motocross World Championship and the Motocross Des Nations.

Carmelo Ezpeleta, CEO and managing director of Dorna, said, "Clear Channel Entertainment's Supercross has long been recognized as the premier supercross series. The synergy of the resources between Clear Channel Entertainment and Dorna provide the strongest base possible to now expand the tradition and success of Clear Channel Entertainment's Supercross program to the international level. Dorna is very pleased to have this opportunity to work with the Clear Channel Entertainment team to help bring supercross to the global marketplace and to the next level."

Charlie Mancuso, president of Clear Channel Entertainment's motor sports division, said, "This is a great day for supercross fans, racers, venues and the entire motorcycle industry. We have produced supercross racing events for 27 years and always dreamed of elevating our Supercross Series from a domestic championship to one that is worldwide. Realizing that dream could not have been possible without partners like the FIM and Dorna. We are excited to take supercross to the next level by promoting the FIM Supercross World Championship. In particular we want to acknowledge the support of the FIM, which for nearly a century has been recognized as the world's foremost motorcycle sanctioning body, and whose affiliation will help immensely to continue to grow the sport."

The FIM will commemorate its 100th anniversary in 2004. Headquartered in Geneva, Switzerland, it has sanctioned international and World Championship motorcycle events since 1904. Each year, the FIM sanctions more than 1,000 motorcycle events around the world in over 90 different classifications of motorcycle competition. The FIM structure includes over 80 affiliated national federations representing an equal number of individual countries, including the American Motorcyclist Association (AMA) in the United States.

The 2002-03 FIM Supercross World Championship calendar will shortly be announced by the FIM.

-cce-

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