CART Headquarters Move to Indianapolis Set for May 20

DETROIT, May 17 Championship Auto Racing Teams, Inc. is in the final stages of the relocation process which will move the open-wheel sanctioning body from its home in Troy, Mich., to Indianapolis today.

CART will close its office doors in Michigan -- CART's home for the past 23 years -- at day's end on Friday, May 17, and reopen its doors Monday, May 20 in Indianapolis. The relocation positions CART in close proximity to the majority of teams participating in the CART FedEx Championship Series.

"Relocating to Indianapolis will increase the efficiency of how we do business in the sport of open-wheel racing and enable CART to be closer to its teams," said CART President and Chief Executive Officer Christopher R. Pook. "It's absolutely the best location for CART and we are very much looking forward to making Indianapolis our new home."

In all, 10 of the 14 teams currently competing in the CART FedEx Championship Series call Indianapolis home, with the remaining teams making their homes in neighboring Illinois and bordering Ohio.

The relocation also benefits a number of CART employees with ties to the Indianapolis area. Approximately 25 percent of CART's current workforce has either worked or lived in Indiana previously.

CART's new facility boasts 64,000 square feet -- 24,000 of which will be dedicated to office space for 90 CART employees, and 40,000 of warehouse space for housing 13 CART FedEx Championship Series semis and tractor trailers, a fleet of pace cars, Simple Green CART Safety Team vehicles and the CART traveling medical center. This will mark the first time in history that CART is housed under one roof.

Effective May 20, CART will begin operation from Indianapolis' northwest side at the following address:

5350 Lakeview Parkway South Drive Indianapolis, IN 46268 USA (317) 715-4100 Main office (317) 715-4110 fax 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