Chevy IRL Testing Update

    DETROIT, Dec. 20, 2002 - After completing nearly 1,500 miles of
track testing with the all-new 2003 Chevy Indy V8, GM Racing is ready to
begin the second phase of testing in early January. Since testing began on
October 26, Chevy's new Indy car powerplant has logged hundreds of laps at
tracks in Kentucky, Texas, Arizona and California. The testing program will
resume in early January at Homestead-Miami Speedway with the engine
installed in the open-wheel series' new 2003 chassis.

     "We have proven the basic engine concept with prototype hardware, and
we are now producing components for Chevrolet teams to test with their
new chassis," said GM Racing program manager Joe Negri. "We hit all of our
initial performance targets, and we have built a strong foundation for
Chevrolet's 2003 IRL engine program. We will continuously improve the
package to ensure that Chevrolet teams have a powerful and reliable engine
for the first race on March 2, and we will continue this development
process throughout the season."

    Reigning IRL champion Sam Hornish Jr. and Team Menard drivers
Jaques Lazier and Vitor Meira tested the 2003 Chevy Indy V8 using 2002
chassis that were modified to accommodate the smaller, lighter 2003 engine.
Pennzoil Panther Racing, Team Menard and Red Bull Cheever Racing are
scheduled to test their 2003 Dallara chassis in Florida early next month.

    Tests were conducted at Kentucky Speedway, Texas Motor Speedway,
Phoenix International Raceway and California Speedway using Chevy Indy V8
engines prepared by Speedway Engine Development, Menard Engine Group and
VDS Engines.

    "We were able to evaluate the new Chevy Indy V8 on a variety of
tracks that are representative of the circuits we will race on in 2003,"
said GM Racing engineer Dick Amacher. "We ran on a relatively flat 1-mile
oval and high-banked speedways, using Chevy engines prepared by three
different engine builders. The cooperation and synergy between our
affiliated teams and builders is one of the strengths of Chevy's IRL
program."

    The 2003 Chevy Indy V8 is the second new engine produced in-house by GM
in two years. It incorporates new technology that distinguishes it from the
2002 version that won 14 of 15 IRL events and swept the manufacturer,
driver and team championships. The 2003 Chevy Indy V8 has a precision gear
camshaft drive instead of chains, two fuel injectors per cylinder instead
of one, removable wet cylinder liners instead of the dry liners that were
used previously, and a new electronic engine management system. The 2003
version is 3 inches narrower, 3 inches shorter and 35 pounds lighter than
its predecessor.

    "The conservative approach would have been to simply update the
successful 2002 Chevy Indy V8, but GM Racing was willing to reach and take
some risks with an all-new 2003 design," said GM Racing lead engine
designer Roger Allen. "We know that the performance bar will be raised next
season, and we are committed to producing a competitive engine package for
Chevrolet teams."

    While many are celebrating the holidays, IRL teams and GM Racing
engineers will be working flat-out to prepare for the New Year and the
start of the next phase of Chevrolet's rapidly accelerating IRL engine
program.

                  


  E-mail from: Rick Voegelin, 20-Dec-2002