Prolong Super Lubricants to sponsor $50,000 prize for New Indy Twin 25 USAC Midget race; part of Formula One weekend. IRVINE, Calif.--June 3, 2002--Prolong Super Lubricants, Inc., operating subsidiary of Prolong International Corporation ...
Prolong Super Lubricants to sponsor $50,000 prize for New Indy Twin 25 USAC Midget race; part of Formula One weekend.
IRVINE, Calif.--June 3, 2002--Prolong Super Lubricants, Inc., operating subsidiary of Prolong International Corporation (AMEX:PRL), (www.prolong.com), today announced purse sponsorship of the inaugural Indianapolis Twin 25's USAC Midget short track oval race on Friday, September 27, 2002 at Indianapolis Raceway Park. The new race is a prelude to the Formula One U.S. Grand Prix at the Indianapolis Motor Speedway on Sunday, September 29th.
Prolong is sponsoring the $50,000 Bonus Prize for the race team that wins both Midget race features, to which the regular USAC purse will be added.
The newest event on the USAC Midget circuit is being promoted as "A Salute To The Racing Capital Of The World" and will make racing action even more exciting and competitive by reversing the finishing order of the first 25-lap event for the starting lineup in the second race. The winner of the first race must also take the checkered flag in the second to win the full $70,000 purse, a prize that has already attracted the commitment of the best of the circuit drivers, according to Dave Darland, the 2001 National USAC Midget Champion. Midget cars are noted for being very quick and very light, featuring a 350 horsepower motor in a 900 pound car.
"We are pleased to be the sponsors of this new racing event. It is in keeping with Prolong's long-standing tradition of motor sports involvement, strong support of the sport's inaugural events, and our special love of Indianapolis," said Prolong President and CEO Elton Alderman. "These drivers and their crews are the `Saturday night heroes' of the racing world and we want to do our part to display to the fans their talents, professionalism and the excitement of Midget racing."
Indianapolis Raceway Park is a 5/8 mile oval track that is only a 10-minute drive from the Indianapolis Motor Speedway and downtown Indianapolis. It will feature a full evening of racing on September 27th, including qualifying, heat races and a consolation run. America's short track ovals have featured, early in their careers, such great drivers as Al Unser, A.J. Foyt and Mario Andretti, as well as current champions Jeff Gordon and Tony Stewart. It continues to provide the best venue for young, aggressive talent.
"The Indianapolis Twin 25's race will provide exhilarating entertainment to the fans and a valuable opportunity a fresh group of fierce competitors," Mr. Alderman said. "Everyone in town for Formula One should come over for this great evening of racing. We are pleased that Prolong is playing a key role in this event."
Prolong International Corporation (AMEX:PRL), a consumer products holding company headquartered in Irvine, California, through its operating subsidiaries, manufactures, markets and distributes a complete line of patented lubricant and proprietary automotive, commercial/industrial and household products. The Company's products are marketed and sold under the brand name Prolong Super Lubricants(R) and are used in automotive, industrial and consumer applications. Prolong products are sold throughout the United States at major chain stores and auto retailers and in international markets. More information about Prolong International and its products can be obtained at www.prolong.com.
Certain statements in this news release that relate to financial results, projections, future plans, events, or performance, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and involve significant risks and uncertainties, including, but not limited to, the following: competition, cost of components, product concentration and risk of declining selling prices. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this release and the Company assumes no obligation to update such forward-looking statements.