Bondurant Completes Management Change

FOR IMMEDIATE RELEASE

PHOENIX, Arizona (August 24, 2001) - Bob Bondurant released today the completion and appointment of a new management team to move the school into the future.

"This team is the result of a year of research and development," Bondurant said. It has culminated in getting not only the right type of leaders, but the right leaders overall."

The new team consists of Mary Palmer, Executive Vice President and General Manager in charge of up day-to-day operations, A. Barry Sprague, Vice President of Marketing and Business Development and Greg Fresques, Director of Sales.

While Mary Palmer and Greg Fresques have been in place for a short period, the missing link has now been fulfilled. Barry Sprague brings some 35 years of automotive experience to the company. Barry's expertise as a former stock car racer, ASE Certified Master Technician, new car franchise dealer management, multi-point business owner, business development analyst and energetic entrepreneurial spirit should bring a well-rounded approach to the school business.

"Bondurant has been the industry leader in driving schools for over 30 years and like all other businesses, this business is changing," Bondurant said. "To continue being the leader we must bring new, exciting programs and opportunities to our school, students and sponsors."

Bondurant went on to add, "Expect this management team to surprise a lot of people. The members are not conservative thinkers, and are known for being not only very progressive and aggressive, but also very innovative, 'out-of-the-box' thinkers as well. Expect to see a lot of growth, new marketing strategies and product improvements from this group. While Mary is very process and detail-oriented, Barry and Greg will surely run fast and loose through this industry. I have the utmost confidence in them and I have turned these guys loose in every aspect so this will be sure to get exciting".

This management change is quite a departure from Bondurant's style. Time will tell, but the team has already internally posted some very aggressive plans for the school. While those plans have yet to be released, the weeks to come will surely raise several eyebrows within the industry.

"The plans we are assembling will put Bondurant in a very unique and strategic position business wise and in fact could change the way our business operates," Palmer said. "It will be interesting to see how motorsports responds to some far out new ideas. I am surprised no one thought of many of these things before."

The Bondurant School is already world renowned as the premier high performance driving experience in North America and is the only purpose-built racing and high performance driving facility of its kind. Located in Phoenix, Arizona, the school has trained over 75,000 students, including many successful race drivers and celebrities. Additional information is available on the web at www.bondurant.com.

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Contact: Mary Palmer Bondurant School of High Performance Driving (480) 961-0143