CHAMPCAR/CART: Herdez Competition statement on future

(Indianapolis, IN. July 21, 2004) - The following statement is produced in response to recent media interest concerning the future of Herdez Competition (HVM Inc). Grupo Herdez notified the team at the beginning of 2004 that they...

(Indianapolis, IN. July 21, 2004) - The following statement is produced in response to recent media interest concerning the future of Herdez Competition (HVM Inc).

Grupo Herdez notified the team at the beginning of 2004 that they would be significantly cutting back their racing program in 2005. Like any marketing program, racing sponsorship will always have an optimum period of return and the team's programs with Herdez have been highly successful in playing a part in establishing Herdez brands in the United States and Canada. In Mexico, the growth of the team into a leading challenger in the Champ Car World Series has been a marvelous parallel with the image of Herdez products, which are known for their quality and consistency.

The team is in negotiation with several potential new partners and is looking forward to continuing, and expanding, its relationships with our other current partners who represent a substantial part of the team's business. The partners brought in to support Ryan Hunter-Reay and the continuing relationship with Mario Dominguez into 2005 also contribute to the stability of our business program.

With the team enjoying considerable success and now acknowledged as a premier racing team in Mexico, there is significant interest from companies looking to capitalize on the team's marketing programs with immediate benefits from the impetus and recognition that has been created in the past three years.

Offering enormous exposure in Mexico and the Latino markets in America and Canada, the team, which currently leads in advertising ratings in the 2004 Champ Car World Series, will continue its growth into and beyond the 2005 season.

-hc-

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Series IndyCar
Drivers Mario Dominguez