Bear Stearns and CART to Hold Auto Racing Investment Summit

    NEW YORK--(BW SportsWire)--April 8, 2002--Bear, Stearns & Co. Inc. and Championship Auto Racing Teams, Inc. (CART) announced today that they will be holding a Business-to-Business Summit at this week's Toyota Grand Prix of Long Beach.
    The Summit, scheduled for Thursday, April 11th, is designed to provide investors and businesses with a thorough understanding of the opportunities that exist in CART. In addition to the Summit, attendees will have a chance to visit the CART paddock garage area, examine the cars and meet with the drivers at the race course. Featured speakers at the event include Christopher R. Pook, CART president and CEO, Marc Falcone, Bear Stearns motorsports analyst, and Larry Kasanoff, CEO of Threshold Entertainment.
    "The motorsports industry creates an impressive blend of entertainment, business-to-business and investment opportunities," said David L. Rosenberg, Bear Stearns managing director and one of the organizers of the event. "We believe this Summit will offer a rare opportunity for those outside the industry to gain a greater understanding of the business."
    "CART is taking a leadership position as it pertains to providing a sports marketing environment that is conducive to the creation of new business opportunities," added Pook. "This B2B Summit, held in conjunction with one of the most successful sporting events in Southern California, is an excellent opportunity for those companies not currently using our sports marketing platform to come and check us out."
    In addition to the one-day Summit, participants will be invited to attend a complete weekend of events, including the FedEx Championship Series race event on Sunday, April 14.
    For additional information on the Summit please contact David L. Rosenberg at 800-777-1234 ext. 3962 or Jason Berlinger at 800-777-1234 ext. 2607 or via e-mail at drosenberg@bear.com or jberlinger@bear.com.
    Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. . With approximately $31.1 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer services, including securities lending. Headquartered in New York City, the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's Web site at www.bearstearns.com.
    Championship Auto Racing Teams, Inc. owns, operates and markets the CART FedEx Championship Series. Former series champions Michael Andretti and Jimmy Vasser are among the stars who will battle for the 2002 FedEx Championship Series title on ovals, temporary street circuits and permanent road courses. CART Champ Cars are thoroughbred racing machines that travel at speeds in excess of 200 miles per hour, showcasing the technical expertise of manufacturers such as American Honda, Ford Motor Company, Toyota, Lola Cars, Reynard Motorsport and Bridgestone/Firestone North American Tire, LLC. The 20-race 2002 CART FedEx Championship Series will be broadcast by new television partners, CBS, FOX and SPEED Channel. CART also owns and operates its top development series, the CART Toyota Atlantic Championship. Learn more about CART's open-wheel racing series at www.CART.com.