VALVOLINE ANNOUNCES GRASSROOTS RACING AWARDS

VALVOLINE ANNOUNCES SWEEPING GRASSROOTS RACING AWARDS

Indianapolis, Nov. 29, 2001 – The Valvoline Co. today announced
a sweeping commitment to American grassroots racing that includes
a national driver points championship beginning in 2002.

The Valvoline Cup will be contested by virtually all drivers in all
types and classes of wheel to wheel competition in all sanctioned
racing or track sponsored weekly racing programs throughout the U.S.
Every driver will be awarded points for finishing positions in his
or her own racing series, according to Valvoline and program
administrator, RaceFan Inc.

“This is a program for racers, no matter what series they run, no
matter where they run,” said Valvoline Sr. Vice President James V.
Rocco. “The Valvoline Cup was created to spotlight grassroots racing
and bring excitement and recognition to racers who might not appear on
TV every weekend. These racers are the bedrock of American motorsports
and Valvoline is proud to support them,” said Rocco.

There are no Valvoline Cup rules with respect to the cars, tracks and
racing.  The rules of the tracks and sanctioning organizations under
which each driver competes will govern that driver and the car. The
Valvoline Cup will be a measure of the success of a driver within his
or her racing program relative to the success of other drivers in
similar cars within their program.

Details of the unique program were unveiled at the Performance Racing
Industry trade show at the RCA Dome, Indianapolis, by Valvoline and
RaceFan, the national marketing, fan advocacy and motorsports management
agency. ABC/ESPN racing announcer Bob Jenkins presided over the
announcement.

The program calls for every driver being awarded points for finishing
positions in their own racing series.  In this way, a superstock driver
can compete with a NASCAR Winston West driver, and a NAMARS driver can
compete against a USAC driver all on equal footing and all for the same
trophies, merchandise awards and cash prizes. There will be over twenty
divisions for the 2002 program.

Weekly updates for Valvoline Cup competition will be posted on a special
Web site, www.valvolinecup.com.  “Racers at all levels love competition,”
said Bill Catania, President of RaceFan Marketing, Birmingham, Alabama.
“The Valvoline Cup will let racers from different series, different types
of racing, compete on equal footing.”

The Valvoline Cup is only the latest evidence of Valvoline’s support of
grassroots racers. Valvoline is a contingency sponsor in NHRA drag racing
and for the past six years has been the No. 1 choice of motor oil by NHRA
sportsmen-class racers at NHRA pro events. For the past 17 years, Valvoline
has sponsored the national championships for the Sports Car Club of America,
The SCCA Valvoline Runoffs®.