NHRA: Jim Yates Inks Major Sponsorship

23 October 1997

Northbrook, Ill. (Oct. 21, 1997) -- Old World Industries, Inc., a worldwide
marketer and supplier of automotive parts and chemical products, announced
today a major sponsorship agreement with Jim Yates, the reigning National Hot
Rod Association (NHRA) Pro Stock champion.

Three of the company's leading products, SplitFire Spark Plugs, Peak
Anitfreeze and Peak Premium Motor Oil, will be the primary sponsors on Jim
Yates' Pontiac Pro Stock, beginning in 1998, the same year Old World
Industries celebrates its 25th anniversary. The three-year agreement, which
extends into the next millennium (1998-2000), is the first major sponsorship
involvement by Old World Industries in NHRA racing.

The SplitFire/Peak Racing Team will make its NHRA debut at the
season-opening Chief Auto Parts Winternationals, Jan. 29 - Feb. 1, in Pomona,
Calif.

"Like Old World Industries, Jim Yates has worked hard to become a
performance leader and we're proud to have him join our team," said Jeff
Stauffer, vice president of marketing for Old World Industries. "We're also
looking forward to working with the NHRA, which provides a target audience
and a great performance arena to promote SplitFire Spark Plugs, Peak
Antifreeze and Peak Premium Motor Oil."

Yates, 44, of Alexandria, Va., is having another banner year on the NHRA
circuit. He won his second consecutive NHRA Winston Pro Stock series
championship by clinching the title last week at the Texas Motorplex near
Dallas. With two races remaining, Yates has won nine national events this
season, appeared in 12 final rounds, qualified No. 1 eight times and
accumulated a 57-11 elimination round record. 

"Being involved with Old World Industries is a great opportunity for our
race team," said Yates. "We're anxious to get the sponsorship program started
and are looking forward to continuing our success under the SplitFire/Peak
Racing Team colors." 

Yates is currently in his ninth season racing a Pro Stock car on the NHRA
circuit. After strong season finishes in 1994 (fourth) and 1995 (second), he
reached the pinnacle in 1996, winning his first NHRA Winston Pro Stock series
championship. Yates has 19 career victories (17 in the last two years) and
has appeared in 36 final rounds.

Old World Industries, a privately-held company with world headquarters in
Northbrook, Ill., is an active marketer and seller of automotive parts and
chemical products in more than 50 countries. The company's key brand names
include: SplitFire Spark Plugs and Wire Sets, Peak Antifreeze, Peak Premium
Motor Oil, Sierra Antifreeze, Hard Driver Synthetic Oil Filter, Peak Premium
Windshield De-Icer/Cleaner.