CHAMPCAR/CART: Mario Andretti named to Board of Directors

CHAMPCAR/CART: Mario Andretti named to Board of Directors

INDIANAPOLIS (August 27, 2002) - Legendary race car driver, Mario Andretti, has been named to the Board of Directors of auto racing sanctioning organization Championship Auto Racing Teams, Inc (NYSE:MPH). The announcement was made Tuesday in ...

INDIANAPOLIS (August 27, 2002) - Legendary race car driver, Mario Andretti, has been named to the Board of Directors of auto racing sanctioning organization Championship Auto Racing Teams, Inc (NYSE:MPH).

The announcement was made Tuesday in Indianapolis by CART President and CEO, Christopher R. Pook. "Mario Andretti is a true believer in the CART product, and has long been a great ambassador for our sport," said Pook. "Mario has a wealth of experience in racing that will benefit our Board of Directors and management as we continue to refine and implement our business model and marketing platform. We believe that Mario's experience in various forms of motor racing, as well as his business and marketing acumen, will complement the strengths of the other members of the Board of Directors."

Mario Andretti.
Photo by Dave Gallegos.

Andretti ended a racing career in 1994 that left him standing among the pantheon of motor-racing greats, compiling 52 Champ Car wins over his CART and USAC careers with four season championships. In 1978, he joined Phil Hill as the only American to claim the World Drivers Championship, winning six races enroute to the Formula 1 title. He showed his versatility over his 36-year career by winning fabled endurance races at Sebring and Daytona as well as the Daytona and Indianapolis 500-mile races. His 407 Champ Car starts are the most in the history of the sport, as are his 67 pole positions.

"I am proud and honored to join CART's Board of Directors and hope to assist the current Board in helping CART attain the status that it deserves in motor racing," Andretti said. "While this is a business decision for me and my family, it has always been clear that my heart is in CART and it will be my pleasure to help the series to grow."

Championship Auto Racing Teams, Inc. (NYSE: MPH) owns, operates and markets the CART FedEx Championship Series. Current points leader Cristiano da Matta, along with former series champions Michael Andretti and Jimmy Vasser, are among the stars battling for the 2002 FedEx Championship Series title with championship-winning teams such as Target Chip Ganassi Racing, Newman/Haas Racing, Patrick Racing and Team KOOL Green. CART Champ Cars are thoroughbred racing machines that reach speeds in excess of 200 miles per hour, showcasing the technical expertise of manufacturers such as Ford Motor Company, Lola Cars, Reynard Motorsport and Bridgestone/Firestone North American Tire, LLC. The 19-race 2002 CART FedEx Championship Series will be broadcast by new television partners, CBS, FOX and SPEED Channel. CART also owns and operates its top development series, the CART Toyota Atlantic Championship. Learn more about CART's open-wheel racing series at www.cart.com.

Statements made in this news release that state the company's or management's beliefs or expectations and which are not historical facts or which apply prospectively are forward-looking statements. It is important to note that the company's actual results could differ materially from those contained or implied by such forward-looking statements. Among the risks and uncertainties to be considered include, but are not limited to, CART's new co-promoted and self-promoted events; new television and advertising arrangements; the success of races in new venues; the current uncertain economic environment and weak advertising market; among others. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's SEC filings made from time to time, including, but not limited to, the Form 10-Ks and subsequent 10-Qs. Copies of those filings are available from the company and the SEC.

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Series INDYCAR