Etchells Racing to Suspend Operations Following Dallas Race

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                                                    Contact: Jon G. Knapp
                                                             Phone: (704) 
662-3121
                                                             Fax: (704) 
662-3021
                                                             
etchellsracing.com

ETCHELLS RACING TO SUSPEND OPERATIONS FOLLOWING DALLAS RACE 

Putnam, Conn., October 16, 2001 - Team owner Chuck Etchells today announced 
that the Etchells Racing team would suspend operations following this 
weekend's O'Reilly Fall Nationals in Dallas, Texas.  Although the Etchells 
team had fielded two Camaro Z28 Funny Cars for most of the 2001 Winston Drag 
Racing season, their participation at this final event will be limited to a 
single entry, driven by Jim Epler and carrying the colors of leading 
automotive parts and repair provider NAPA Auto Parts.  For a racer best known 
for his no-nonsense approach to the sport, it all came down to simple 
economics.

"We have certain sponsor revenue issues hounding us at the moment, which has 
affected our ability to run the team," stated Etchells.  "Throughout the 
year, our suppliers have been very good to us, carrying us and allowing us to 
keep going.  However, when the primary sponsorship package we had been 
working on for next year fell through, there was no reason to go further in 
debt.

"This weekend's race in Dallas completes our commitment to Racing Champions.  
In addition, I spoke with Sunoco after Reading to explain our situation, and 
they have graciously allowed us to forego competing in the last three events. 
 I want to thank them and all our sponsors for their cooperation and 
understanding.

"We also wanted to do the right thing for our crew.  They have stood by us 
under some very difficult circumstances, and this will give them as much time 
as possible to look for other opportunities and continue their careers.  Our 
next step will be to liquidate our hardware and pay our bills."

Today's announcement brings to a halt one of the longest-running and more 
successful organizations in the NHRA.  In its twenty-two year existence, 
Etchells Racing has competed in 267 races with three drivers (Etchells, Epler 
and Whit Bazemore) scoring 15 national event wins in 35 final round 
appearances, as well as capturing 20 No. 1 qualifying positions.  The crew 
chiefs who have tuned the Etchells "fuel coupe" during that time reads like a 
"Who's Who" of drag racing, including Paul Smith, Maynard Yingst, Tim 
Richards, Terry Manzer and Roland Leong, as well as top technical advisors 
Larry Meyer and Dave Hutchens.  Its consistent performance is marked by an 
eight-year run of Top Five finishes in the Winston Funny Car Points standings 
from 1992-1999, a feat matched only by John Force.  Although Etchells' 1990 
IHRA World Championship is a high point, undoubtedly the team's biggest 
moment came on October 1, 1993, when Etchells made NHRA history by recording 
the first four-second run in a Funny Car with his 4.987-second pass in 
Topeka, Kansas.  However, as Etchells is quick to point out, the final 
chapter has yet to be written on his racing legacy.

"We're going to continue to pursue sponsorship opportunities," explained 
Etchells.  "Our ability to handle a top-level program for any potential 
marketing partner is backed by over twenty-two years experience in the racing 
business.  I realize that the country's economic perspective has changed, 
especially in light of the tragedies of September 11.  However, the sport of 
NHRA Drag Racing has shown tremendous growth during the 2001 season, and I 
believe that when you add in the tremendous ESPN television package, it is 
the best buy in all of motorsports.  My desire to return to the sport I love 
and compete at a top level is as strong as ever.

"But there's more to racing than the business aspect, and it's the day-to-day 
personal relationships that I will miss the most.  Over the years, I've been 
fortunate to work with some of the most talented individuals in racing, and 
I've formed some great friendships that will last a lifetime.  

"There are so many people that I would like to thank, and although time and 
space prohibits me from doing so individually, there is one person I would 
like to acknowledge, Chris Forton.  Chris has been with us for many years and 
has been the absolute cornerstone of our team.  

"Most of all, however, I would like to thank the fans.  After all, they are 
the reason we get to pursue our dreams.  Win or lose, they stood by us, and 
we appreciate their support.  It's been a great ride and hopefully, it's not 
over." 
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