NHRA: CVEC Racing Announces Sponsorship of Angelle Savoie and Star Racing

                                                           Contact: Jon G. 
Knapp
                                                                      Phone: 
(704) 662-3121
                                                                      Fax: 
(704) 662-3021
                                                                  
J2Racing@aol.com

CVEC POWER SYSTEMS ANNOUNCES THE FORMATION OF CVEC RACING
Major motorsports campaign to include sponsorship of NHRA Pro Stock Bike 
Champion Angelle Savoie

Melbourne, Fla., May 3, 2002 - Gary R. Cornwell, President and Chief 
Executive Officer for CVEC Power Systems Inc. today announced the formation 
of CVEC Racing, a sister company that will specialize in sponsorship and 
marketing opportunities, licensing and other subsidiary operations.  The 
foundation for this new program is CVEC Racing's multi-year sponsorship of 
two-time and defending NHRA Pro Stock Bike Champion Angelle Savoie and the 
Star Racing Suzuki.

"CVEC Racing is proud to be associated with Star Racing and Angelle Savoie," 
stated Cornwell.  "Our company is embarking on a new charter with CVEC 
Racing, and the marketing campaign surrounding this sponsorship is its 
cornerstone.  

"We are very excited to be able to share our vision and look forward to 
working with associate sponsors Suzuki and Snap-On Tools, as well as the 
NHRA.  The vision of CVEC Racing and the partners we have will make for an 
unbeatable combination." 

CVEC Power Systems, with headquarters in Melbourne, FL, is a manufacturer of 
performance exhaust systems for the hobby/radio-controlled (RC) industry.  In 
five years, it has grown from an entrepreneurial endeavor to a major 
supplier, with their top-selling, patented product line sold in over 2,500 
dealers worldwide.  

The Star Racing team has been the model of success in Pro Stock Motorcycle 
since 1987, accumulating fifty-six national event wins in one hundred final 
round appearances.  With the help of talented riders such as the legendary 
John Myers and Angelle Savoie, the Star Racing entry has earned five NHRA Pro 
Stock Motorcycle championships and eight runner-up finishes in the last 
thirteen years.  Today's announcement came as welcome news to owner George 
Bryce, whose team faced an uncertain competitive future until meeting CVEC 
representatives at the Pro Stock Bikes' season-opener in Gainesville.
 
"First of all, I'd like to say how thankful we are to have found the right 
match with CVEC," explained Bryce.  "One of the reasons we didn't have a 
sponsor up to this point was because we were being very selective.  It's hard 
to do when you don't have a deal, especially because we really wanted to 
defend our championship and try for three in a row.  That's been the way of 
life here at Star Racing, trying to win races and championships.  We were 
fortunate enough to reach our one hundredth final round a few weeks ago, and 
it's something we want to keep doing.

"What's really neat about our deal with CVEC Racing is that they are going to 
develop and distribute products that will be in perfect alignment with what 
Star Racing is, and has been for the last twenty-five years.  Using our team 
and company as the springboard to launch their new venture is a perfect fit 
for both of us.  The way we see it, it's a match made in heaven.  It makes us 
appreciate our not looking for the quick fix and holding out for the right 
deal. We're glad it all came together"

Savoie, the most successful female competitor in NHRA Drag Racing history, 
echoed her team owner's thoughts.

"Working with CVEC Racing is something that suits me perfectly," said Savoie. 
 "I've always been interested in the RC hobby, and in fact I bought in an RC 
truck several years ago.  Knowing that this is the product I'll be working 
with and helping to sell is really exciting, especially because I'll be able 
to work with children as well as adults.  It's been tough not being able to 
talk about it over the last few weeks, but now I'm ready to go out and tell 
everyone about it."

In addition to their involvement with Star Racing, CVEC Racing revealed plans 
for a new points and purse system for its Hobby Drag Racing Association 
(HDRA).  CVEC Racing will also be manufacturing one-tenth scale RC replicas 
of several current NHRA race cars.  Finally, they announced the formation of 
Pulse Engineering, a research and development division that will work on high 
performance exhaust systems for the two-cycle, full-size motorcycle industry.
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