DDR Systems Inc. Becomes Grand Prix Sports Inc. and Through Coca-Cola Nordic Racing, Commences FIA Formula 3000 Racing Season in Brazil
IRVINE, Calif.--March 30, 2001--DDR Systems Inc. (OTCBB:DDRS) starting today shall be known as Grand Prix Sports Inc. (OTCBB:GPRX).The company announces that Saturday, March 31, 2001 heralds the commencement of the 2001 FIA Formula 3000 Championship at the Interlagos circuit on the outskirts of Sao Paulo, Brazil. For 2001, the Championship has expanded from 10 Formula 1 Grand Prix support races to 12. The first addition is Sao Paulo and the final addition is the last Formula 3000 race of the season, to be held in Monza, Italy on Sept. 15, 2001.
The Brazilian city of Sao Paulo has held races at the Interlagos circuit since 1940 when it was built in a hilly natural amphitheatre on the outskirts of the city. The circuit winds around itself with all manner of flat and banked corners, fast straights and hairpins for a distance of five miles.
Passion for motor racing in Brazil has always been high. Several Brazilian drivers making up the "grid" in this year's Formula 3000 Championship; the home crowd at the opening race is sure to prove partisan.
"The Brazilian drivers will have a home advantage for sure," explained Coca-Cola Nordic Racing driver Justin Wilson. "The Brazilian fans are fanatical about all things to do with motor racing and I am sure that they will be making a lot of noise for their drivers."
"Finally the start of the season is upon us," said Coca-Cola Nordic Racing team principal Derek Mower. "Now it is time to start converting all the good testing results into race results and that is what we aim to do from the word go. The only concern that the team has, is that we shall be at a disadvantage to the teams with Brazilian drivers, all of whom will have raced at the Interlagos circuit before in other race categories."
A full report from qualifying and race results will be available on www.nordicracing.com.
Separately, the company announces a shift of its business direction to a motor sports venue. Effective as of Friday, March 30, 2001, the company's common stock will be quoted under the symbol "GPRX," concurrently with the effectiveness of a 5:1 forward split of its common stock.
Additionally, as a result of renegotiating the company's distribution agreement with Reach Technologies Inc., 9.5 million issued and outstanding common shares have been cancelled and returned to the company's treasury.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, DDR Systems, Inc./Grand Prix Sports, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities and domestic and global economic conditions.