2004 Barber Dodge Pro Series

Skip Barber to Elevate Status of the National Series
and Not Run the Pro Series in 2004

LAKEVILLE, Conn. (Feb. 2) - Skip Barber Racing School LLC announced today that it plans to further
elevate the profile of its highly successful Formula Dodge National Championship Series (FDNC)
Presented by RACER in 2004 to provide even more visibility to one of the most important series for
aspiring professional race car drivers. As part of its 2004 schedule, the National Series will be supporting
the 52nd running of the Mobil 12 Hours of Sebring, Mar. 17-20, and the Champ Car race at Road
America Aug. 6-8. In addition to an announcement concerning increases in scholarship funding for FDNC
competitors, its complete schedule will also be released shortly.

The company also announced that it will not run the Barber Dodge Pro Series in 2004 in order to update
the series for the future and focus on the National Series. The move was precipitated by the widespread
uncertainty in U.S. open-wheel racing resulting from the ownership status of Champ Car.

"The delay settling the ownership status of Champ Car, our sanctioning body, prevented us, like many
others, from adequately preparing for the 2004 season," said Aaron Hollander, President and CEO of Skip
Barber Racing School. "We were unable to negotiate a mutually beneficial sanctioning relationship that
would allow us to operate a viable series for our drivers and sponsors. Having said that, we look forward
to the possibility of continuing to work with and support Champ Car in numerous ways this year and in
the future. We wish them nothing but success."

Hollander went on to say, "We are exploring all alternatives for 2005 that meet the requirements of a
changing marketplace. Skip Barber Racing participates in nearly every facet of motorsports and we are
afforded a large number of opportunities for continued growth. We are very optimistic about the future of
racing in North America."

"Skip Barber Racing School has a 28-year history of providing unique and innovative programs to help
up and coming racers achieve success," commented Divina Galica, Senior Vice President of Racing. "We
will spend this year focusing on the Formula Dodge National Championship Presented by RACER and
evaluating all of our options for 2005. Those include the possibilities of a new car, and/or race team
ownership, and/or race team sponsorship and management. The fact is, Skip Barber Racing has trained
more of the world's racecar drivers than any other organization. With all other Skip Barber businesses in
a strong growth mode, it allows the company to offer positions to those currently associated with Barber
Dodge."

Skip Barber Racing, headquartered in Lakeville, Conn., is the world's largest racing school, available at
20+ tracks across North America. It also owns and operates seven open-wheel road racing
championships. Other components include the Dodge/Skip Barber Driving School, a Corporate Events
department and the innovative Special Projects Group, which as part of its responsibilities is active in the
emerging youth/tuner/drifting market.