CHAMPCAR/CART: American Needle Joins as Licensee

HEADWEAR GIANT AMERICAN NEEDLE JOINS CART AS LICENSEE DETROIT (Oct. 8, 1999) - American Needle, one of the leaders in the world of licensed headwear products, has joined with Championship Auto Racing Teams to produce a new and exciting line of...

HEADWEAR GIANT AMERICAN NEEDLE JOINS CART AS LICENSEE

DETROIT (Oct. 8, 1999) - American Needle, one of the leaders in the world of licensed headwear products, has joined with Championship Auto Racing Teams to produce a new and exciting line of headwear that features CART Champ Car racing, its teams and drivers.

The announcement was made by Jonathan Frank, president of Atlanta-based CART Licensed Products and Jim Stringwell, vice president of sales for American Needle, headquartered in Buffalo Grove, Ill.

"Probably the highest profile piece of merchandise for any sports-licensed entity is headwear, and we are extremely excited to have a company the stature of American Needle joining CART," said Frank. "American Needle will enable us to extend our line of CART-identified headwear to a much broader audience."

CART joins an impressive list of leagues licensed by American Needle. Major League Baseball, (MLB), the National Football League (NFL), National Hockey League (NHL), National Basketball Association (NBA), Major League Soccer (MLS), and 2002 Winter Olympics and the National Collegiate Athletic Association (NCAA) also partner with the Chicago-area company for their logo-identified merchandise.

"We are extremely excited to undertake the CART license," said Stringwell. "We believe that, with the popularity of motorsports - and specifically CART - American Needle can be instrumental in helping grow the CART program to a position of prominence".

American Needle will supply CART-identified merchandise at both race sites and in national and regional retail accounts. Headwear supplied will be from both the American Needle and ANNCO brands and include slouch caps, special fabric and applique headwear, bucket hats, visors and adjustable twill and wool caps. American Needle is perceived by all of its licensors as a fashion trendsetter in the licensed headwear business.

The agreement runs through 2001.

Established in 1996, CART Licensed Products, Inc. is the official retail licensing and merchandising arm of Championship Auto Racing Teams. CART Licensed Products is the exclusive worldwide licensor of the CART and FedEx Championship Series brands. CART Licensed Products also grants non-exclusive retail licenses for the images of teams and drivers of the FedEx Championship Series, including previous champions Michael Andretti, Al Unser Jr. and Jimmy Vasser.

Championship Auto Racing Teams, Inc (NYSE:MPH) owns, operates and markets the FedEx Championship Series, which is comprised of 20 races in five countries on four continents in 1999. With two races remaining in the season, Columbian rookie Juan Montoya and Scotsman Dario Franchitti are locked in a battle for the PPG Cup and the $1 million prize that accompanies it. CART also owns and operates its top two development series, the PPG-Dayton Indy Lights Championship and the KOOL/Toyota Atlantic Championship. Learn more about CART's open-wheel racing series at www.cart.com.

-CART-

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Series Automotive , IndyCar
Drivers Al Unser Jr. , Michael Andretti , Jimmy Vasser , Dario Franchitti