Championship Auto Racing Teams, Inc. Teleconference

    WHO:       Please join Joseph F. Heitzler, CEO/President, Thomas L.
               Carter, CFO, and Rachelle Fergan, Investor Relations Manager
               for a review of the Company's 2000 Fourth Quarter Earnings
               Report.

    WHEN:      Tuesday, February 20, 2001 - 11:00 a.m. (EST)

    CONFERENCE CALL RESERVATION:
    To reserve your place on the call, please notify Barbara Tharp by
    10:00 a.m. on Monday, February 19, 2001.  You may call in your reservation
    to 248-362-8800, ext. 225 or fax to 248-362-8826.

    HOW:       Please dial 1-888-577-8996 from the U.S. and Canada
               (International callers, 712-257-3876) about 5 minutes prior to
               the starting time to ensure a spot on the call.  Password is
               "Championship" and the conference call leader: Thomas L.
               Carter.

    NOTE:      The Company will release earnings prior to market opening on
               February 20, 2001.