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CART: Cleveland No Longer on Champ Car Schedule; Mid Ohio Contract Extended

30 June 1999

    DETROIT, June 30 -- Championship Auto Racing Teams announced
today that it has signed a multi-year extension to its sanctioning agreement
with the Mid-Ohio Sports Car Course and that the Cleveland Grand Prix will not
be among the races on its 2000 FedEx Championship Series schedule.
    The announcement was made by CART Chairman and CEO, Andrew Craig.
    "Champ Cars have long been a staple of the racing landscape in the Midwest
and, in particular, in Ohio," said Craig, referring to the open-wheel racing
roots of the FedEx Championship Series.  "The extension of our agreement with
Mid-Ohio though 2003 demonstrates our commitment to race fans throughout the
Midwest and Ohio, and we look forward to working with the team at Mid-Ohio to
build on what is already a tremendous race weekend."
    The decision to end CART's 18-year association with the race conducted at
Cleveland's Burke Lakefront Airport temporary circuit came following a
several-month-long series of negotiations which ended when CART and promoter
IMG could not come to an agreement on terms for the event.
    "It was CART's desire to continue to race at Cleveland and it is
unfortunate we could not come to an agreement," added Craig.  "The race fans
in Cleveland are among the best on our schedule and we look forward to having
them join us at Mid-Ohio.
    "Putting together each of our 20 races is like completing 20 different
puzzles," Craig continued.  "Each piece is a little different and they all
must come together to the satisfaction of each side to provide the total
picture.  We will continue to work with IMG as the promoter of the Tenneco
Automotive Grand Prix of Detroit.
    "While our roots are here in the Midwest, the reality is that we have a
significant number of races in this part of the country during the summer
months (the FedEx Championship Series currently conducts nine races in 13
weeks within a 500-mile radius of Detroit).  There are several major markets
throughout the U.S., as well as around the world, that are very interested in
conducting Champ Car events.  This opening on our schedule allows us to
seriously pursue some very attractive opportunities."

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