Philip Morris To Continue as Sponsor of Scuderia Ferrari Marlboro

    LAUSANNE, Switzerland--Feb. 22, 2001--Philip Morris Europe S.A. and Ferrari S.p.A. announced today that the two companies had agreed upon a continuation of their successful collaboration in the Scuderia Ferrari Marlboro Formula 1 motor racing team through the 2006 racing season. The world champions in both the drivers' and constructors' championships during 2000, Scuderia Ferrari Marlboro has as its principal sponsor Philip Morris.
    Hans Fluri, President, Philip Morris European Region said: "We are absolutely delighted that we will continue the very successful relationship that Marlboro has enjoyed with Ferrari since 1984. The skill and dedication brought to the challenge of Formula 1 racing by the Scuderia Ferrari Marlboro is a source of pride for our companies and for the many thousands of our employees throughout the world."
    Luca de Montezemolo, Chairman of Ferrari S.p.A., based in Maranello, Italy, said: "I am very pleased we can extend for several more years the successful collaboration with Philip Morris, the partner we have been cooperating with for the longest time, with the very same spirit which enlivened it until today."
    Marlboro has been a sponsor of Formula 1 motor racing for many years. During this period teams sponsored by Marlboro have accumulated 10 drivers' world championships and 9 constructors' world championships. "We are extremely proud of our long-standing association with such a superb and outstanding company as Ferrari", said Mr. Fluri. "In extending our relationship with Ferrari to 2006 we are mindful that the European Union wishes to phase out sponsorship activities by that date," he added.