FORD EXTENDS STEWART GRAND PRIX CONTRACT TO 2001

1st December 1998: - Ford Motor Company announced today that it is extending its contract with Stewart Grand Prix for a further year to the end of 2001.

This, together with Neil Ressler becoming the Chairman of Cosworth Racing and his appointment to the board of Stewart Grand Prix, confirms the commitment of Ford to the Stewart-Ford team and the FIA Formula One World Championship.

Ressler, Vice-President, Advanced Vehicle Technology, said: 'Ford completed the purchase of Cosworth Racing in October 1998, and is well along with the new V-10 engine which will be run in the Stewart-Ford car during the 1999 season. Stewart Grand Prix is making organisational and staffing changes placing greater focus on design, engineering and management.'

The Stewart-Ford team has completed its move to the new factory and has confirmed that Johnny Herbert will join Rubens Barrichello in the driving duties in 1999.

Ressler went on to say: 'We recognise it's still a young team with much to do but we are optimistic about our future prospects. Renewing the contract with Stewart Grand Prix underlines our commitment to the team and our future success in Formula One.'

Jackie Stewart, the Chairman of Stewart Grand Prix, said: 'I am very pleased that Ford have confirmed their deep commitment to our team for a further three years of Formula One racing. The resources that they have available, particularly in the area of technology, are going to be of considerable value to the Stewart-Ford effort in the future.'