Washington, D.C. Officials Announce 10-Year Agreement to Stage `NATIONAL GRAND PRIX OF WASHINGTON, D.C.'

          American Le Mans Series Roars to Life in Nation's Capital
       for International Racing Event July 19 - 21, 2002 at RFK Stadium

    WASHINGTON, Aug. 9 Mayor Anthony A. Williams and the D.C.
Sports & Entertainment Commission today announced that Washington, D.C. has
entered into a 10-year agreement with National Grand Prix Holdings, LLC to
stage the "National Grand Prix of Washington, D.C." -- an international,
annual motorsports event and festival on the grounds of Robert F. Kennedy
Memorial Stadium beginning with the American Le Mans Series Race, Friday
through Sunday, July 19 through 21, 2002.  The event, which is expected to
provide economic impact of $350 million over a ten-year period, will showcase
the American Le Mans Series, an international sports car endurance racing
series.
    "Professional racing showcases some of the world's greatest cities:
Melbourne, Monte Carlo, Barcelona and Montreal.  I'm proud that Washington,
D.C. is a member of that group," commented Mayor Anthony A. Williams.  "With
our world-class hotels, restaurants, transportation, shopping, entertainment
and cultural attractions, we're the ideal city for racing enthusiasts -- and
their families -- to spend the weekend."
    Christopher Lencheski, founder and chairman of National Grand Prix
Holdings, LLC, said, "We are grateful for the hard work and determination of
D.C. Sports & Entertainment Commission President, Bobby Goldwater, Legg Mason
Sports Industry Group and our racing partners.  This city, with its
cosmopolitan flair and importance on the global business scene, provides a
terrific combination that will only grow over time into a signature racing
event for all involved."
    The weekend will include a three-hour race for the American Le Mans Series
on Sunday, July 21, 2002, as well as an event for the popular Trans-Am Series,
a celebrity race and other support services.  Other aspects of the festival
will be announced later.
    The racing will be held on a temporary road racing circuit that will be
set up on the grounds of RFK Memorial Stadium. The circuit length is estimated
at 1.7 miles.  The ALMS race will be televised live by NBC Sports in the
United States, with additional coverage in many countries around the world.
    "This is a tremendous development for the American Le Mans Series and for
motorsports in general," said Scott Atherton, president and COO Panoz Motor
Sports Group, which includes the American Le Mans Series.  "This event will
showcase our series and motorsports to the world from our nation's capital.
Washington, DC, joins an elite group of cities from around the world in
hosting this type of racing and we are grateful to those who have made this
become a reality."
    According to Bobby Goldwater, president, D.C. Sports & Entertainment
Commission, "We welcome this event to our city.  Its economic impact, plus the
opportunity to showcase the city to an international television audience will
be very significant.  In the past other host cities have drawn huge crowds.
We are looking forward to a great event."
    Tickets for the event can be purchased by calling 888-456-8448, or on the
web at http://www.NationalGrandPrix.com .

    NATIONAL GRAND PRIX HOLDINGS
    National Grand Prix Holdings, LLC, a Delaware Limited liability Company,
was founded in 1999 by Christopher Lencheski to develop and execute the
National Grand Prix of Washington, D.C. -- A three day Motorsports event
festival featuring an internationally sanctioned racing event in the District
of Columbia.

    AMERICAN LE MANS SERIES
    The American Le Mans Series was founded by entrepreneur Don Panoz in 1999
and is based on the famed 24 Hours of Le Mans, the world's most famous
endurance race.  Many of the cars, drivers and manufacturers that compete at
Le Mans also compete in ALMS events, which are held at North American venues
as well as those in Europe and Asia.  Participating manufacturers include
Audi, BMW, Cadillac, Corvette, Dodge, Panoz, Porsche and Saleen.

    D.C. SPORTS AND ENTERTAINMENT COMMISSION
    The D.C. Sports & Entertainment Commission, an independent agency of the
District of Columbia government, is responsible for the management and
operation of RFK Stadium, the D.C. Armory and its adjacent facilities and for
presenting and promoting sports, entertainment and special events in the
District.

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