Chevy and Castroneves Win Indy 500

INDIANAPOLIS, May 26, 2002 -- There was controversy at the finish of
today's Indianapolis 500, but there was never a doubt that Chevrolet
dominated the final results. Chevrolet engines swept the top four finishing
positions and powered 14 of the first 15 finishers. A Chevy Indy V8 powered
defending champion Helio Castroneves to the first repeat victory in the
500-mile race since 1971 and secured a record 12th Indy 500 title for team
owner Roger Penske.

Chevrolet led the start and the finish in the Bowtie's return to
Indianapolis Motor Speedway. The 50th Anniversary Corvette Pace Car brought
the field of 33 starters to the green flag; 200 laps later, Castroneves was
first to the checkered flag. The race ended under caution after a furious
three-hour duel contested at an average speed of 166.499 mph. Paul Tracy
was second in Team Green's Chevrolet Dallara, followed by Felipe Giaffone
in Mo Nunn Racing's Chevy-powered Dallara. Alex Barron was the highest
finishing rookie, taking fourth place with Blair Racing's Chevrolet
Dallara.

Tracy believed he had won the race after passing Castroneves in the third
turn on lap 198, but race officials ruled that the yellow flag had been
displayed before the pass.

Castroneves stretched his Chevy's fuel mileage to the maximum, running
the final 42 laps (105 miles) on 35 gallons of methanol. He made his final
pit stop on the 158th lap of the 200-lap race, and he finished on fumes.

"I had enough fuel to finish -- I was so happy!" Castroneves
exclaimed. "During the race you have to keep the faith. I was keeping the
faith to just give me a chance. All of a sudden, that's what happened. No
doubt, without the yellow we might not have finished. Emotion? I was crying
like a baby."

Penske Racing scored four previous Indy 500 victories with Chevrolet
power, including Chevy's last win at the Brickyard by Emerson Fittipaldi in
1993. The most successful team in Indy 500 history put Chevy back in the
winner's circle today in the Bowtie Division's return to the Brickyard.

"Reliability has been a trademark of our team," said Roger Penske. "If you
go back and look at the reliability and how many times we have been able
to finish, to me that's critical. I think the reliability has made
the difference."

Tracy finished second in the box score, but believed he had scored a
moral victory after a difficult month in Indianapolis.

"We had a good race car, but we couldn't get the speed out of it
in qualifying," said Tracy, who started 29th in the 33-car field. "When it
comes time to race, I'm always ready to rock 'n' roll. We worked our way to
the front diligently. I didn't think I had a chance with two laps to go. If
we didn't win, it was still a great day for Helio and a great day for us."

Tracy scored the last victory for Chevy's first-generation Indy V8 at
Laguna Seca in 1993, and he nearly posted another Chevrolet victory in his
first Indy 500 appearance since 1995.

"The engine ran great today," he reported. "I have to thank everyone
at Speedway Engines; they did a great job for us this month. We learned a
lot, and that's the main thing. I think the next time we come back, we'll
have a better understanding of how everything works."

There was only one reported engine problem among the 26 Chevrolet entries
that started the race. Ten of the 11 drivers who completed all 500 miles
used Chevy Indy V8 engines.

"The engine was good the whole day," said third-place finisher
Felipe Giaffone. "I had no problems at all, and it was strong from the
beginning today."

Chevrolet's tradition at Indianapolis began with company co-founder
and namesake Louis Chevrolet, who competed four times in the 500-mile
classic. Today's race added another chapter to the Chevrolet chronicle.

"One year ago, we announced that Chevrolet would return to the
Indianapolis 500," said Chevrolet General Manager Kurt Ritter. "We kept
that promise and underscored it with Chevrolet's first Indy 500 victory
since 1993. This win showed that wherever there is a winner's circle, from
Indianapolis to Daytona and Le Mans, Chevy will be there. It was a great
day for Chevrolet, from the start of the race when the 50th Anniversary
Corvette Pace Car led the field to the green flag to the finish when Helio
Castroneves took the checkered flag for our dealers, our customers and
millions of Chevy enthusiasts."

"Today marked the sixth consecutive Indy 500 victory for General
Motors engines and the fifth straight win for Chevrolet this season," noted
GM Racing Executive Director Herb Fishel. "That is a tribute to the GM
engineers who designed and developed the engines, to the suppliers who
produced the components and to the builders who assembled the motors. We
are now applying the knowledge that GM Racing has gained in six years of
open-wheel competition to develop the next-generation Chevy Indy V8 for
2003. It's clear that the IRL formula of affordable technology has produced
outstanding racing, and we welcome the intense competition among
manufacturers that we expect in the future."

Castroneves' victory gave him a 26-point lead (195-169) over his Penske
Racing teammate Gil de Ferran in the championship standings after five of
15 races. Sam Hornish Jr., who led the standings going into the Indy 500,
fell to third with 159 points after a brush with the wall on lap 74
relegated him to the 25th finishing position.

The race for the IRL championship will resume under the lights on
Saturday night at Texas Motor Speedway on June 8.

RACE SUMMARY
Track: Indianapolis Motor Speedway, 2.5-mile oval
Winner: Helio Castroneves, Penske Racing Chevrolet Dallara
Margin of Victory: Finished under caution
Average Speed: 166.499 mph
Pole: Bruno Junqueira/Chevrolet, 231.342 mph
Fastest Lap: Tomas Scheckter/Infiniti, 226.499 mph

TOP FIVE FINISHERS
Pos./Driver/Engine/Laps
1. Helio Castroneves/Chevrolet, 200 laps
2. Paul Tracy/Chevrolet, 200
3. Felipe Giaffone/Chevrolet, 200
4. Alex Barron/Chevrolet, 200
5. Eddie Cheever Jr./Infiniti, 200

MANUFACTURER RESULTS
Laps Led: Chevrolet 115, Infiniti 85
Starters: Chevrolet 26, Infiniti 7
Running at Finish: Chevrolet 18, Infiniti 5

CHAMPIONSHIP STANDINGS (after 5 of 15 events)
Driver/Engine/Points (victories in parentheses)
1. Helio Castroneves/Chevrolet, 195 (2)
2. Gil de Ferran/Chevrolet, 169
3. Sam Hornish Jr./Chevrolet, 159 (2)
4. Felipe Giaffone/Chevrolet, 140
5. Alex Barron/Chevrolet, 109

Manufacturer/Points (victories in parentheses)
1. Chevrolet, 50 (5)
2. Infiniti, 35

NEXT EVENT
June 8, Boomtown 500, Texas Motor Speedway, Fort Worth, Texas; 1.5-mile
oval, 200 laps
TV: ESPN, 8 p.m. Eastern