Skip Barber, Panoz, Road Atlanta sign agreement

SKIP BARBER AND ROAD ATLANTA JOIN FORCES IN MULTI-YEAR AGREEMENT Largest Racing and Driving School Partners with Premier Road Racing Facility BRASELTON, GA. (June 11, 2007) - Skip Barber Racing School, Panoz Racing School, and Road...

SKIP BARBER AND ROAD ATLANTA JOIN FORCES IN MULTI-YEAR AGREEMENT
Largest Racing and Driving School Partners with Premier Road Racing Facility

BRASELTON, GA. (June 11, 2007) - Skip Barber Racing School, Panoz Racing School, and Road Atlanta announced today the signing of a long-term agreement that will provide Skip Barber with a central presence at one of the nation's most venerable road courses.

Under the agreement, Skip Barber will partner with and assume operational management of the Panoz Racing School at Road Atlanta, and will become the exclusive provider of driving and racing schools at Road Atlanta. Skip Barber will lease over 20,000 square feet of classroom, shop and equipment storage facilities at the track to conduct its business operations, and will become the single largest renter of track and support paddock days at Road Atlanta.

Panoz Racing School is currently owned and operated by the Panoz Motor Sport Group, LLC, owner of Road Atlanta. Beginning July 1, 2007, Skip Barber will execute previously scheduled Panoz Driving School and racing programs, utilizing Panoz GTRA cars but under the Skip Barber brand. Previously scheduled 2007 Panoz Racing Series events will use Panoz vehicles and will follow existing Panoz Series competition rules and regulations. Customer reservations and deposits for all aforementioned Panoz Racing School programs will be honored and managed by Skip Barber Racing School. In the future, programs will use Skip Barber vehicles and a combination of Skip Barber and Panoz Racing School staff and equipment.

Skip Barber rental of Road Atlanta track and paddock days will also commence July 1. The Company will rent approximately 100 days per year to be used for the operation of Skip Barber Racing and Driving Schools, amateur races, track days, and other programs including OEM (Ride & Drive) events and corporate events. Under the agreement terms Skip Barber will become the exclusive provider of OEM events at Road Atlanta.

"Today marks a historic day for both the Panoz Racing School and Skip Barber. The resources of both organizations personnel, facilities and equipment based at Road Atlanta will provide unprecedented opportunities for our customers, staff members and the surrounding community," said Geoff Lee, president of Panoz Racing School and Road Atlanta. "Skip Barber Racing School is unquestionably the largest and most dynamic racing school and represents a very complimentary "fit" with the Panoz Racing School which is also highly regarded for its position within the industry. Today's announcement enables both companies to benefit from each other's core strengths, creating an unmatched offering of courses, equipment and professional expertise. I am confident that these broad offerings, coupled with the allure of Road Atlanta and the outstanding accommodations that surround us, will soon make this the destination of choice for corporate event planners, aspiring race car drivers and seasoned veterans alike."

"We are extremely fortunate to be partnering with Road Atlanta and in particular, with the Panoz Racing School," said George Ayres, President of Skip Barber Racing School. "This agreement enables Skip Barber to serve a new, major metropolitan market and region of the country that is growing. People here are enthusiastic about motorsports. We believe our Racing School, Driving School and Race Series customers will be thrilled with the experience that the Road Atlanta track and facilities offer." Ayres continued: "To have the Panoz Racing School staff and instructors as partners is of particular benefit to Skip Barber. They have been experts in the world of sportscar racing for many years and will bring a high level of professionalism to our programs, especially our newly- launched sportscar racing program, the Mazda MX-5 Cup Racing School. Together, we are going to deliver a first-class customer experience."

The Panoz Racing School is headquartered in Braselton, Georgia with racing and driving school locations at both Road Atlanta and Sebring Raceway in Florida. The school originally was established in 1975 as the Road Atlanta Driving School, and after purchase by Panoz Motor Sports Group, it was renamed the Panoz Racing School in 1998. Since then, the racing school has been the only one of its kind to use a purpose-built GT Sports Car (the Panoz GTRA racing car) for its school and a slightly more powerful version for its "arrive and drive" race series, the Panoz Racing Series. Along with the racing school, PRS manages the Panoz Racing Series spotlighted at American le Mans Series crown jewel events -- the legendary Mobil 112 Hours of Sebring and the Petit Le Mans at Road Atlanta. Also included in the Panoz Racing School corporate umbrella is the Panoz Driving School which has co-branded numerous world-class driving schools aimed at taking the brand experience and the driver's road skills to the highest, most enjoyable levels. In fact, the organization has helped to create turnkey programs for Maserati, Porsche, Audi, Subaru and Saab. A separate Panoz Driving School curriculum includes a unique teen driving school which teaches novice drivers skills to save their own lives and the lives of others on the road. More information on Panoz Racing School, Panoz Racing Series and Panoz Driving School is available at 888.272.4872 or by going to www.panozracingschool.com

Headquartered in Lakeville, Conn., and operating out of five base locations (Mazda Raceway Laguna Seca in California; Lime Rock Park in Connecticut; Road America in Wisconsin; and Sebring International Raceway and Daytona International Speedway, both in Florida), Skip Barber is the world's largest racing and driving school, available at more than 20 race tracks across the U.S. and Canada. In addition to the Skip Barber Racing School, the company also runs the Skip Barber Driving School and the new High Performance Driving School. The company also operates five separate open-wheel racing championships. Skip Barber recently signed a long term agreement with Mazda North American Operations; Mazda sports cars are used in the Driving School programs and beginning in 2008, Mazda engines will power the Skip Barber fleet of more than 100 formula race cars, strengthening the North American motorsports ladder system of Skip Barber, Star Mazda and Champ Car Atlantic Powered by Mazda. More information on Skip Barber is available by calling 860.435.1300 and by visiting www.skipbarber.com

Road Atlanta is part of the Panoz Motor Sports Group, the most diversified motorsports company in the world, and is recognized as one of North America's best road courses. The multi-purpose motorsports facility is located 35 miles north of Atlanta and is utilized year-round for a wide variety of events, including professional and amateur sports car and motorcycle races, racing and driving schools, corporate programs, and testing for motorsports teams. Road Atlanta is host to major events like this year's 10th annual Petit Le Mans a major event of the American Le Mans Series - and the Rockstar Suzuki Superbike Showdown, rounds 17& 18 of the AMA Superbike Series. For more information please go to www.roadatlanta.com.

-credit: sbr

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Series Automotive
Drivers Skip Barber