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PETRONAS Announces Title Sponsorship For The 2004 Shanghai International Race Festival

SHANGHAI, China, May 17, 2004 /Xinhua-PRNewswire/ -- Petroliam Nasional Berhad or PETRONAS, the Malaysian oil and gas conglomerate, today announces its commitment to undertake the role of the title sponsor for the coming 2004 Shanghai International Race Festival.

Scheduled from 16 to 18 July, the event, to be officially known as the PETRONAS Shanghai International Race Festival 2004, features a street race for various classes of cars on the streets of Shanghai with German Touring Car series, Deutschen Tourenwagen Masters (DTM), as its main highlight. Other classes such as a single-make race and celebrity race are also in the cards.

The appointment of PETRONAS as the title sponsor of the event is expected to further boost the conglomerate's brand presence and awareness in China, paving the way for its planned expansion into the vast Chinese market. PETRONAS currently has some interests in China's oil and gas industry.

President and Chief Executive Officer of PETRONAS, Tan Sri Dato Sri Mohd Hassan Marican said, "Today is a very special day for PETRONAS as we announce our title sponsorship for the Shanghai International Race Festival 2004. PETRONAS is indeed very honoured to have been given the trust and mandate by the organizers and the people of Shanghai to assume such an important role in this prestigious motor sporting event."

He said PETRONAS could be considered a veteran in its involvement and achievements in international motor sports. The company is a technology partner to the SAUBER PETRONAS Formula 1 Team, a partner to the Foggy PETRONAS World Superbike Racing Team, and is principal sponsor in other motor sports teams competing in Malaysian, regional and international championships. In Malaysia, PETRONAS has also been the title sponsor for the Malaysian Formula 1 Grand Prix since 1999.

"We are confident that our experience in organizing and active participation in many world-class motor sporting teams and events would complement that of our Chinese colleagues. Together we will work hand in hand to ensure that the PETRONAS Shanghai International Race Festival 2004 will become one of the most successful and memorable sporting events in China," he said.

The event, set to be a prelude to the SINOPEC Chinese Formula 1 Grand Prix in September, will also feature street demonstrations by the SAUBER PETRONAS Formula 1 Team and by the Foggy PETRONAS Racing Team.

The audience at the PETRONAS Shanghai International Race Festival 2004 would get the opportunity to see the SAUBER PETRONAS' drivers showing off their mettle in the SAUBER PETRONAS C23 Formula 1 car, while Foggy PETRONAS Racing Team's riders would display their skills on the PETRONAS FP1, the Malaysian superbike currently racing in the World Superbike Championship. Both teams, together with other outfits within the PETRONAS Motorsports family, performed in a street carnival for a crowd of more than 120,000 prior to the PETRONAS Malaysian Formula 1 GP in March.

About PETRONAS

PETRONAS (Petroliam Nasional Bhd) is Malaysia's national petroleum corporation. Set up in 1974, PETRONAS has since grown into a multinational entity engaged in the full spectrum of the oil and gas activities with strategic business interests in 35 countries worldwide. Three of its subsidiaries are listed on the Malaysian Stock Exchange.

PETRONAS is a Fortune 500 corporation. For the financial year ended March 31, 2003, PETRONAS recorded consolidated revenue of US$21.433 billion, net profit of US$3.976 billion and consolidated assets of US$46.851 billion. About 80 per cent of its revenue came from its international operations and exports.

PETRONAS and Motor Sports

PETRONAS' involvement in motor sports dates back to 1988, when it became the sponsor of a Malaysian rally team competing in the national, Asia Pacific and selected world championships.

This was followed by the sponsorship of other motor sports teams, including a touring car team, a motorcycle racing team, a 4-by-4 adventure team, and a superbike racing team, all of which are currently competing in various regional and world championships.

Perhaps the highest profile sponsorship is that of the SAUBER PETRONAS Formula 1 Team, which started in 1995. The sponsorship accelerated PETRONAS' branding efforts, promoting both PETRONAS and Malaysia to the global audience.

PETRONAS' involvement in motor sports serves a more important purpose, that of technology acquisition and application in the areas of advanced automotive engineering and products research and development. Motor sports have also become the test beds for many PETRONAS' petroleum products such as its breakthrough fuels and lubricants.

  More information on PETRONAS may be found on www.petronas.com
  Contact in Kuala Lumpur:
  Ms Cecilia Chai
  Tel: +603 2331 4766
  Email: cecilc@petronas.com.my