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CART Winner Walker Racing Seeking to Replace Primary Sponsor Valvoline

3 July 1999

CART Winner Walker Racing Seeking to Replace Primary Sponsor Valvoline

    INDIANAPOLIS, July 3 -- Walker Racing, winner of the June 20
CART race in Portland, Ore., and one of the most successful teams in the CART
FedEx Championship, announced today that it is seeking a business partner to
replace sponsor Valvoline for 2000 and beyond.
    "We've had a winning partnership with Valvoline since 1992," said team
owner Derrick Walker.  "It's been one of the longest-running, most productive
sponsorships in motorsports.  Unfortunately, Valvoline's business plans don't
include primary team sponsorship in CART in 2000."
    Steve Kirchner, Valvoline Vice President of Marketing, Worldwide, said the
Valvoline-Walker Racing relationship had produced more than victories on the
track and had led to business opportunities for the company.  "Decisions such
as this are never easy," said Kirchner.
    "We believe this creates an excellent opportunity for other companies to
come aboard a winning team that has a proven record of success with its
sponsors and on the race track," said Walker.
    Walker Racing and Valvoline driver Gil de Ferran are currently second in
the FedEx Championship points chase.  After 9 of 20 races this year, de Ferran
is one of only six drivers to win a race and a pole position.  The team also
fields a FedEx Championship car sponsored by Alpine Electronics and driven by
Memo Gidley and Naoki Hattori.
    Walker Racing's competition package combines the leading engine (Honda),
most successful chassis (Reynard) and Goodyear, the largest tire seller in
America.
    CART is the premier organizer of open-wheel racing in the U.S., with races
in California, Florida, Pennsylvania, Illinois, Wisconsin, Oregon, Ohio,
Michigan and Texas.  The FedEx Championship Series also races in Canada,
Japan, Australia and Brazil.
    More than 60 million television viewers worldwide watch every CART race.