DETROIT (January 5, 2000) - Championship Auto Racing Teams announced today that it has entered into a three-year agreement with fuel supplier elf Race Fuels and its exclusive agent in the U.S. and Mexico, Competition Fuels, Inc. to become the Official Fuel Supplier for the FedEx Championship Series. elf Race Fuels has an impressive track record of competition in the Formula One World Championship, capturing 15 F1 championships and 134 Grand Prix victories since its association with the series began in 1968. In 1998, elf Race Fuels entered into a partnership with the CART Dayton Indy Lights Championship, beginning an effort to enter into mainstream American motorsports. The fuel supplier takes the next major step in that effort with today's announcement. "elf Race Fuels is a world-class brand with a strong history of success in international motorsports promotions," said CART Chairman and Chief Executive Officer Andrew Craig. "Their involvement in Champ Car racing in 2000 and beyond underscores how interest in CART is growing throughout the world." "Entering into this agreement to become the Official Fuel Supplier for the FedEx Championship Series shows the company's commitment to compete at the highest level of North American motorsports," said James G. Wurth, Vice President of Competition Fuels, Inc., which is headquartered in Indianapolis. "We have had a wonderful relationship with the Dayton Indy Lights series and we felt it was time to expand our relationship with CART and Champ Car racing and take it to the next level." Competition Fuels Inc. will begin supplying Champ Car teams with fuel for testing within the next several weeks and the company will be on hand and ready to provide full service to the teams when Spring Training begins at Homestead-Miami Speedway in South Florida on February 8. "We are proud to start the new millennium with this major partnership," said John Rowady, General Manager of ISL United States, CART's exclusive worldwide marketing agent. "The agreement with elf Fuels is a prime example of ISL's integrated sponsorship philosophy in which global partners like elf will reap the rewards of not only being associated with Champ Car racing, but all levels of CART's development system." elf and Competition Race Fuels, Inc., which replaces Valvoline as the Official Fuel Supplier for the FedEx Championship Series, also announced today that it has extended its agreement with the Dayton Indy Lights series for three more years. Through Competition Fuels Inc., elf currently supplies racing exclusively to the Auto Value Super Sprints Series, Shelby American Automobile Club, SuperkartsUSA, U.S. Formula Three Championship and the World Karting Association. Several notable championships were won in 1999 using elf race fuels, including Paul Gentilozzi's repeat SCCA Trans Am title.