HPROP: Events to be broadcast on Speed Channel

(Lake Hamilton, Fla.) - Hydro-Prop, Inc. announced today that it has reached a three-year agreement with SPEED Channel to become the exclusive television partner of the Budweiser Unlimited Hydroplane Series Presented by Boat Shopper® magazine.

(Lake Hamilton, Fla.) - Hydro-Prop, Inc. announced today that it has reached a three-year agreement with SPEED Channel to become the exclusive television partner of the Budweiser Unlimited Hydroplane Series Presented by Boat Shopper® magazine. SPEED Channel's coverage in 2003 will include six one-hour telecasts on weekend dates throughout the summer beginning with the season-opening Detroit APBA Gold Cup.

"We are pleased to have SPEED Channel, recognized as America's motorsports leader, televise the Budweiser Unlimited Hydroplane Series Presented by Boat Shopper," said Bart Garbrecht, CEO of Hydro-Prop. "The Unlimited Hydroplane Series is viewed in motorsports as one of the premier boat racing series, and SPEED Channel is an excellent opportunity to display this outstanding talent throughout North America."

"SPEED Channel will allow us to showcase our product to a new audience and will accommodate our existing Hydros fans with more consistent time slots throughout the season," continued Garbrecht. "I am confident that our teams, drivers, venues and sponsors will receive added value through SPEED's coverage and I am looking forward to a bright future with North America's authority on motorsports telecasts."

In 2003, SPEED Channel is the exclusive U.S. cable home for many of the top motor sports series in the world, including Formula One, CART, the NASCAR Craftsman Truck Series, USAC, World Rally, ASA, ALMS, Grand Am and F3000 with live coverage of AMA and FIM motorcycle road racing events. Now available in more the 60 million homes in North America, SPEED Channel is the fastest growing sports cable network in the country and the home to NASCAR TV.

Fox Cable Networks acquired the former Speedvision in July of 2001, and since then, SPEED Channel President Jim Liberatore has orchestrated an on-air makeover. With increased in-depth race analysis featuring key drivers and participants, SPEED Channel's primetime audience has increased by more than 63 percent over the past year.

"The Budweiser Hydroplane Series Presented by Boat Shopper magazine is a great fit with SPEED Channel," Liberatore said. "Tapping into the passion that defines motor sports fans has been the SPEED Channel plan from day one and there is no question that bringing the Hydros to SPEED will feed that passion."

Headquartered in Lake Hamilton, Fla., HYDRO-PROP owns and operates the Budweiser Unlimited Hydroplane Series Presented by Boat Shopper® magazine. Unlimited Hydroplanes are the most dramatic, exciting, and spectacular racing vehicles in the world. They are the largest and fastest racing boats reaching top speeds of 220 miles per hour and can cover the length of a football field in less than one second. HYDRO-PROP events are held throughout North America and are televised during prime time on SPEED Channel. SPEED Channel is the fastest growing sports network in America and is recognized as America's motorsports leader. For more information on HYDRO-PROP, visit www.hydroprop.com.

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