American Le Mans Series, IMSA Extend Eligibility of 2003 Prototypes Through 2005

AMERICAN LE MANS SERIES, IMSA EXTEND ELIGIBILITY OF 2003 PROTOTYPES THROUGH 2005 BRASELTON, Ga. (July 30, 2004) - The American Le Mans Series and its sanctioning body, the International Motor Sports Association (IMSA), have extended the eligibility of 2003 specification Prototype race cars in the series through the 2005 season, officials have announced. The eligibility of Le Mans Prototype (LMP) cars homologated under the 2003 Automobile Club de l'Ouest (ACO) LMP 900 and LMP 675 regulations and run under the 2003 configuration will continue in the American Le Mans Series through the end of 2005. The cars will continue to be classified as LMP1 and LMP2 as specified under the relevant ACO regulations. Cars homologated under subsequent specifications will also remain eligible in their configurations. The American Le Mans Series operates on an agreement with the ACO that includes use of the famous "Le Mans" name as well as use of the technical rules and regulations of the 24 Hours of Le Mans. The eligibility extension applies only to the ALMS and not to the 24 Hours of Le Mans or the Le Mans Endurance Series. "One of the founding principles of the American Le Mans Series is stability of rules and regulations," said Scott Atherton, President and CEO of the ALMS. "The announcement now of the extension of eligibility for 2003 specification Prototypes through 2005 allows our current race teams, as well as those that will be joining our series, to operate in a stable environment as they make their plans for 2005 and beyond. "We remain committed to two classes of Prototype racing as a major element of the American Le Mans Series," said Atherton. "The position that current LMP1 and LMP2 cars will remain eligible to compete in 2005 without modification has been well-received by both current Prototype entrants and non-active Prototype owners. The response has been unanimously positive. "This extension of eligibility comes with the full consent of the ACO," he said. "As always, we greatly appreciate the spirit of cooperation demonstrated by Mr. (Jean-Claude) Plassart (ACO President) and his management team, and their willingness to work with us on this." IMSA has also announced to competitors that its 2004 fee structure, which includes entry and license fees, will remain stable for the 2005 season. "Just as with the announcement of the extension of Prototype eligibility, we wanted to get information about the fee structure out to race teams as early as possible," said Tim Mayer, Chief Operating Officer for IMSA. "This will again have the effect of creating a stable environment in which teams can plan budgets for the 2005 season with the knowledge that fees will not be increasing." The next race for the American Le Mans Series will be the Toronto Grand Prix of Mosport at Mosport International Raceway near Toronto Aug. 6-8. About the American Le Mans Series The American Le Mans Series is a series of North American sports car races based on the 24 Hours of Le Mans, the world's most famous endurance race. American Le Mans Series races feature four classes of race cars competing for class wins and the overall win, with the fields including many of the same drivers and cars that compete at Le Mans. The series holds events at many of North America's premier permanent road racing facilities. The series motto is "For the Fans" and all events feature driver autograph sessions and open paddocks. All events are on television in the United States. Well-known automotive brand names such as Audi, BMW, Corvette, Dodge, Ferrari, Lamborghini, MG, Nissan, Panoz, Porsche and Saleen are represented on the series. The series, which has its headquarters in Braselton, Ga., was founded in 1999 by entrepreneur Don Panoz and is sanctioned by the International Motor Sports Association (IMSA). -30-