Panoz Motorsports To Post Contingency Sponsorship In Trans-Am

For Immediate Release - February 15, 2001 Contact David Lang, 305-670-4343 or transampr@compuserve.com

Panoz Motorsports To Post Contingency Sponsorship In Trans-Am $55,000 In Total Postings; Esperante Victory Could Be Worth Over $40,000

Miami - The Trans-Am Series and the Panoz/Sanchez Group (PSG) today announced that it had signed a $55,000 contingency sponsorship agreement with Panoz for the 2001 season. Panoz is the second major manufacturer to sign on for a contingency awards program for the upcoming season.

Panoz will post a $5,000 cash bonus in each race, a total of $55,000 for the year, for the Panoz Esperante. A breakdown of the bonus will be $3,000 for a win, $1,500 for a second-place finish and $500 for third. The combination of the bonus and the new Trans-Am purse of $37,500 for qualifying on the pole and winning the race could provide the winner with a payday in excess of $40,000.

“The Panoz Esperante is a new car in the paddock that we are very excited about,” said PSG president Ralph Sanchez. “Their commitment to the new Trans-Am body style that we announced last summer at Road America is reinforced with the posting of this contingency bonus.”

The Panoz Esperante will make its competitive debut in the Trans-Am Series on March 16 at the Superflo 12 Hours At Sebring. The first Trans-Am Esperante was recently unveiled at the Los Angeles Auto Show by LAC Motorsport’s Kerry Alexander. Joining Alexander under the Panoz marque are: Claudio Burtin, Mike Davis, Gary Longo and Boris Said. (For a picture visit www.transamseries.com)

“I am thrilled to be associated with the Panoz organization,” said Alexander. “Their racing success speaks for itself. They have effectively created a major force in road racing and we think that success will continue in Trans-Am. I’m looking forward to the 2001 season with great enthusiasm and anticipation.”

“We are very pleased to be able to offer this contingency bonus to what we hope will be a growing number of Panoz Esperante drivers,” said Elan Motorsports Technologies Mark Sanderson. “Instead of just offering a bonus for a victory, we wanted to be more creative and reward an Esperante driver who finishes on the podium.”

Keith Kelly, LAC Motorsport’s Marketing, commented, “it is apparent that Panoz is committed to developing a winning car and chassis combination. We work very closely with our clients not only with sponsorship and marketing, but also with other business opportunities that present themselves. Mark Sanderson was very receptive to working with a relatively new team in Trans-Am, ultimately making LAC the on-track supplier of Panoz Trans-Am parts.”

The 36th season of the Trans-Am Series will be competed over 11 rounds throughout North America. Highlighting the season will be the Series’ first live major network television appearance on July 21 from Sears Point on CBS Sports. Both the Detroit (June 16) and Cleveland (June 30) races will also be broadcast by CBS Sports on a one-day delay.

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David Lang Director of Public Relations Trans-Am Series® transampr@compuserve.com 305-670-4343