IRL Press Release: Pennzoil Becomes Official Motor Oil of Indy

03/20/96

Indy Racing League--For Immediate Release

PENNZOIL BECOMES OFFICIAL MOTOR OIL OF INDY

America's No. 1 Motor Oil Teams Up With No. 1 Racing Event

INDIANAPOLIS, March 18, 1996 -- Pennzoil Products Company, manufacturer of America's No. 1 selling motor oil, has become the official motor oil of the Indianapolis Motor Speedway (IMS), the Indianapolis 500 and the Indy Racing League.

The announcement was made today by Indianapolis Motor Speedway vice president William R. Donaldson and Pennzoil's senior vice president-marketing, Thomas E. Floyd.

Pennzoil and IMS reacted quickly when learning that the Speedway's official motor oil sponsorship became available on Friday, March 15, and agreed over the weekend to a multi-year relationship which will provide Pennzoil with a dominant presence at the world's most famous race track. Elements of the agreement include track signage, Gasoline Alley presence, and sponsorship of a major attraction in May within Indy FanFest, the Speedway's on-site interactive "500" theme park. Further terms and details of the agreement were not released.

"This agreement will give Pennzoil a year-round presence here at the Speedway," Donaldson said. "We are extremely pleased to extend our partnership with Pennzoil and provide them with official status in the motor oil category beginning with the 80th running of the Indianapolis 500," which will take place on May 26, 1996.

Pennzoil is also one of five official sponsors for Indy's Brickyard 400 NASCAR Winston Cup stock car race.

Commenting on the agreement, Floyd said it gives Pennzoil a tremendous presence at the three top motorsports events in the world, all at one venue -- the Indy 500, the Brickyard 400 and Indy 500 pole day. "This will give us a powerful presence and strengthen our image in the racing world as well as the marketing arena," he noted.

Pennzoil has a long history of involvement in motorsports. Its Indy tradition began with Russ Snowberger in 1930 and continued with Wilbur Shaw in 1935 and Maury Rose in 1951. It has since been marked by victories scored by Johnny Rutherford in 1980, Rick Mears in 1984 and 1988, Danny Sullivan in 1985 and Al Unser in 1987. Last year Gil de Ferran was named the PPG Series Rookie of the Year.

"Racing has always been an important part of our marketing effort," said Floyd, "and we plan to increase our efforts in this area."

Floyd said Pennzoil is equally pleased to participate as the official motor oil of the new Indy Racing League. "Indianapolis racing is in its greatest growth mode ever, and it's our intent to capitalize on that growth in the oil retailing marketplace."

Pennzoil Products Company is a wholly owned subsidiary of Houston-based Pennzoil Company, and its motor oil has been America's No. 1 selling brand for 10 consecutive years.