Chevy to IRL in 2002... Bye Bye Olds!

See The Brickyard in Your Chevrolet As Chevy Returns to Indy Racing Competition in 2002

DETROIT, June 5, 2001 - The red Bowtie is back! Chevrolet general manager
Kurt Ritter announced today that Chevrolet will compete in the Indy Racing
Northern Light Series in 2002.

    "Beginning next year, Chevrolet will return to open-wheel racing and
the Indianapolis 500," Ritter said.

    "We are very proud of Chevrolet's record in Indy car racing,
which includes six straight Indianapolis 500 victories in 1988-1993,"
Ritter continued. "We are looking forward to continuing that winning
heritage when we return."

    "The return of Chevrolet to Indy Racing competition is another sign
of growth for the Indy Racing League," said Tony George, president and CEO
of the League. "There is no brand more identified with American racing
than Chevrolet, and as we continue to grow the Indy Racing League,
Chevrolet will be an important partner to us."

    George also noted the strong contribution of General Motors to the
Indy Racing League. "General Motors was there when we began the Indy Racing
League, and Oldsmobile has been very important in getting us to where we
are today. We look forward to this continuing relationship with the GM
family."

    Chevrolet will return to the arena of open-wheel racing after
an eight-year absence. Chevrolet competed in Indy-style racing from 1986
through 1993, winning 86 races, 80 poles and five series championships.
 
    "GM Racing is developing a new Chevrolet Indy Racing engine for 2002
based on GM Powertrain's Premium V engine platform and on the series'
current technical requirements," said Joe Negri, GM Racing IRL/Road Racing
Group manager. "The Chevrolet Indy Racing engine we will introduce next
year will be significantly different from the current Oldsmobile IRL
engine, with improved efficiency and higher output. This project will also
accelerate our development program as we make the transition to the new IRL
engine rules that will take effect in 2003."

    General Motors has been an engine supplier in the Indy Racing League
since the series introduced its naturally aspirated engine formula in
January 1997. Oldsmobile IRL Aurora V8 engines have won 41 of 42 races
(including five straight Indianapolis 500 victories) and have swept the IRL
championships four straight years. Oldsmobile will continue to race in the
IRL through the end of the 2001 season. GM is committed to the IRL as an
engine supplier through at least 2005. 

    "Oldsmobile will continue its full participation in the Indy
Racing League's 2001 season," said Debra Kelly-Ennis, Oldsmobile general
manager. "Oldsmobile intends to continue as the dominant force in the Indy
Racing Northern Light Series for the remainder of this season, and we plan
to finish in winning style with a fifth consecutive Engine Manufacturer
championship."

    The red Bowtie has long been a symbol of success in American
motorsports. No other car or truck manufacturer can match the number of
NASCAR, NHRA, road racing and off-road championships that Chevrolet has
won.

    "Chevrolet's return to open-wheel racing is great news for racing fans
who have missed Chevy's presence in this very prestigious race circuit,"
said Ritter. "We're proud to be back . . . and we look forward to powering
future winners of races like the Indy 500 for many years to come."
 
Chevrolet Indy Racing Fast Facts

Louis Chevrolet, co-founder and namesake of the
Chevrolet Motor Division,
was a noted race car driver and engineer in the early days of the automobile.
 (See http://www.theautochannel.com/news/writers/lroberts/1998/ms9801.html)
 He competed in the Indianapolis 500 four times, with a best finish of 
seventh in 1919. His brother Gaston 
won the Indianapolis 500 in 1920.

Chevrolet announced its previous Indy engine program on October 15, 1984.
The Chevy Indy V8 made its competition debut in Phoenix on April 6, 1986.
Mario Andretti scored the Chevy Indy V8's first victory in Long Beach,
Calif., on April 5, 1987. Paul Tracy scored Chevrolet's last Indy car
victory in Monterey, Calif., on October 3, 1993.

Eleven drivers won a total of 86 victories with Chevy Indy V8 engines
from 1987-93. Emerson Fittipaldi was the most prolific Chevrolet driver
with 18 victories.

Chevrolet powered the winning driver in the Indianapolis 500 six
straight years:
1988  Rick Mears
1989  Emerson Fittipaldi
1990  Arie Luyendyk
1991  Rick Mears
1992  Al Unser Jr.
1993  Emerson Fittipaldi

Chevrolet drivers won the PPG Indy Car World Series championship
five consecutive years:
1988 Danny Sullivan
1989 Emerson Fittipaldi
1990 Al Unser Jr.
1991 Michael Andretti
1992 Bobby Rahal

Chevrolet has paced the Indianapolis 500 12 times, more than any other
brand:
1999  Monte Carlo
1998  Corvette
1995  Corvette
1993  Camaro Z28
1990  Beretta
1986  Corvette
1982  Camaro Z28
1978  Corvette
1969  Camaro
1967  Camaro
1955  Chevrolet Bel Air
1948  Chevrolet Fleetmaster