Bader appointed IHRA President, majority shareholder

FOR IMMEDIATE RELEASE IHRA BOARD APPOINTS BADER PRESIDENT, GRANTS HIM MAJORITY SHAREHOLDER STATUS BRISTOL, Tenn. (Jan. 9, 1998) -- With a proven record as a successful track owner/operator, Bill Bader will now apply those skills to...

FOR IMMEDIATE RELEASE

IHRA BOARD APPOINTS BADER PRESIDENT, GRANTS HIM MAJORITY SHAREHOLDER STATUS

BRISTOL, Tenn. (Jan. 9, 1998) -- With a proven record as a successful track owner/operator, Bill Bader will now apply those skills to running the International Hot Rod Association (IHRA). In a move approved by IHRA's board, Bader, 54, will serve as president of the drag racing sanctioning body effective immediately. A bid by Bader to purchase a majority voting interest in the IHRA from its co-owners, Elton Alderman and Tom Billstein, was also accepted. Both Alderman and Billstein remain in place on the IHRA board, and as major shareholders. Bader joins them as a fellow director, along with other new board members including his son, Bill Bader, Jr. and Aaron Polburn. "Bill has been deeply involved in the key areas necessary to successfully run a racing series," said Alderman. "His experience and excellent reputation, backed by a major commitment including his own investment in IHRA, sends our participants and sponsors a strong, positive message." Bader, who previously served IHRA as a consultant, is also owner of Norwalk Raceway Park in Ohio. The track annually hosts one of IHRA's national events. "I look upon this as a wonderful and exciting challenge," said Bader in accepting his new duties. "There's an awful lot of work to be done, but at the same time I'm excited by the IHRA's untapped potential." Gary Schuetz, who most recently served IHRA as its general manager, returns to his original full-time position at Prolong Super Lubricants, Inc., directing its sports marketing programs, including drag racing. "Gary was instrumental in creating many new opportunities for IHRA," said Bader. "We greatly appreciate his substantial and productive efforts." (-30-)

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