INDIANAPOLIS, Nov. 17, 1998 - The engine specifications and manufacturer guidelines for the Pep Boys Indy Racing League for the years 2000 through 2004 were announced during a press conference this morning in Indianapolis. The engine formula beginning in the year 2000 (for five years) calls for the engine size to be reduced from 4 liters to 3.5 liters and allows a new crankshaft which will alter the pitch and tone of the new engine significantly. In addition, the engine will no longer be production-based, but must be submitted by an automobile manufacturer and meet Indy Racing League specifications. "We have accomplished many of the goals for the Indy Racing League which was founded to ensure the future of open-wheel, oval track racing. I think these new engine regulations will continue to build on our program of providing opportunities for new drivers, teams and sponsors, while controlling costs and providing safe and exciting competition," said Tony George, founder of the Indy Racing League. Engine development by Oldsmobile, Nissan and after-market engine builders has already increased horsepower to over 720, according to Leo Mehl, executive director of the IRL, which has resulted in speeds approaching 230 miles per hour. The new engine regulations will allow the IRL to control engine cost and horsepower for the next five years. "These new engine regulations have many advantages." added Mehl, "All of our current engines can be updated economically, engine costs and reliability will be enhanced and the sound of the engine will be more pleasant." Indy Racing League officials also announced that General Motors has extended its agreement to supply Oldsmobile Aurora V8 racing engines to the Pep Boys IRL by two years. The original three-year agreement with GM now extends through the year 2001. " I think the new regulations are a great compromise between horsepower and engine cost," said Mehl, "I have sent the details to CART for consideration for their new engine formula."

Engine Specifications Years 2000-2004

New: * 3.5 liters (213.580 cu. in.) (reduced from 4 liters) * 180 degree (flat) crankshaft optional * New programmable rev limiter (1999) Independent system * No longer production-based Submitted by manufacturer Meets IRL specifications

Current Specifications Maintained: * 8 cylinder 90 degree V DOHC * Four camshafts/four valves per cylinder * Maximum bore size 93 mm * Current bore centers maintained * Engine weight 340 lbs. * Front motor mount location * Rear bellhousing mounts * Fuel pump drive locations * Deck height 8.1 in. * Centerline crank to bottom sump 4.5 in.


* Current Engines Updated, Not Obsoleted Shorten stroke to reduce displacement Bore centers maintained Cost estimate to update 1999 engine $10,000 (crankshaft, four camshafts, rods)

* Improved Engine Reliability 1999 - 10,300 rpm (maximum) 2000 - shorter stroke to reduce piston speed

* Reduced Operational Cost ($45.00/mile)

* Universal Chassis Interchangeability Maintained (Standardized) Front motor mounts Rear bell housing mounts Fuel pump location

* Stable Horsepower/Speed Control Duration of formula Reduce revs/minute (rpm) Decrease displacement (shorten stroke) Adjust for tire/aerodynamic improvements

* Alter Engine Pitch and Tone

* Revitalize After-Market Engine Builders Cottage Industry

Engine Manufacturer Guidelines

* Engines and parts of equal specifications must be available for sale to any competitor

* Engines and parts must be available at a controlled price

        Example:        (1999)
        Assembled cost        $83,000
        Unassembled      78,000