CHAMPCAR/CART: Dzierzawski resigns announcement

DETROIT (October 3, 2000) - Championship Auto Racing Teams, Inc. (NYSE:MPH) announced today that Randy K. Dzierzawski has resigned his positions as Executive Vice President and Chief Financial Officer, effective October 3, 2000, to pursue ...

DETROIT (October 3, 2000) - Championship Auto Racing Teams, Inc. (NYSE:MPH) announced today that Randy K. Dzierzawski has resigned his positions as Executive Vice President and Chief Financial Officer, effective October 3, 2000, to pursue other business interests. Thomas L. Carter, who currently serves as Vice President of Finance and Administration of a subsidiary of the Company, has been appointed Chief Financial Officer and will oversee the financial functions until a permanent successor is named.

"On behalf of the Board of Directors of the Company, I would like to thank Randy Dzierzawski for over 10 years of dedication and hard work with Championship Auto Racing Teams, Inc., and we all wish him the best of luck in his future endeavors," said Robert W. Rahal, Interim President and CEO of the Company.

Championship Auto Racing Teams, Inc. (NYSE: MPH) owns, operates and markets the FedEx Championship Series. Champions Juan Montoya, Michael Andretti and Jimmy Vasser are among the drivers who battle for the FedEx Championship Series title on oval circuits as well as temporary and permanent road courses. CART also owns and operates its top two development series, the Dayton Indy Lights Championship and the Toyota Atlantic Championship.

This press release may contain "Forward-Looking Statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical facts included in this release may constitute forward-looking statements. Although the parties believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the parties' expectations due to changes in corporate performance, industry factors, continued due diligence by the parties, and other operational and economical factors. Additional information on potential factors that could affect the Company's financial results are included in the reports filed with the SEC, including its Form 10-K.

- CART -

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Series IndyCar
Drivers Michael Andretti , Jimmy Vasser