Penske Racing, Inc. and Quicken Loans Inc. Announce a Multi-Tiered Marketing Agreement

America's Home Loan Experts join most successful team in Indy car racing history

INDIANAPOLIS, May 22 -- Penske Racing, Inc. and Quicken Loans Inc., the nation's leading online mortgage lender, announced a multi-tiered marketing and business development agreement designed to leverage the platform of Indy car racing to drive business and brand awareness.

Under the terms of the agreement, Quicken Loans logos will appear on the Marlboro Team Penske cars driven by two-time defending Indianapolis 500 Mile Race winner Helio Castroneves and two-time CART National Champion Gil de Ferran in the Indy Racing League beginning with this week's running of the Indianapolis 500 Mile Race.

"Our association with the most successful team in Indy car racing history makes sense for our brand and for our clients," said Dan Gilbert, Chairman and Founder of Quicken Loans. "We believe Penske and Quicken Loans have a shared set of values for high quality, outstanding customer service and winning. Quicken Loans has earned a reputation as America's Home Loan Experts and Penske Racing has consistently demonstrated the highest level of expertise in Indy car racing for over thirty years. Indy car racing fans are savvy consumers who will appreciate the high level of service and value that Quicken Loans offers homeowners."

Known for performance, precision, attention to detail, unparalleled customer service and innovation, the name "PENSKE" is synonymous with winning both on the track and off. It is these attributes that attracted Quicken Loans to the Penske organization and its subsidiaries.

"Racing is about intensity, decisiveness, organization and execution," said Roger S. Penske, Chairman and founder of Penske Corporation and Penske Racing, Inc. "These metrics have been the baseline for Penske Corporation and its subsidiaries, and are the reason that racing is the common thread throughout our organization. Quicken Loans products and services can improve the home owning environment for our employees and fans."

In addition to the sponsorship, retail customers of Penske Corporation, United Auto Group and Penske Truck Leasing may take advantage of this association through various Quicken Loans programs to be announced. Moreover, another program is under development for employees of Penske Corporation and its affiliate companies. Details of both programs will be forthcoming.

Quicken Loans Inc. consists of Quicken Loans and Rock Financial. Quicken Loans is the nation's leading online mortgage lender. Consumers in all 50 states can shop and apply for residential mortgages online through the www.QuickenLoans.com website, or by telephone through the national Call/Web Center. Michigan residents can shop and apply for loans through Rock Financial's three retail branches or via the www.RockFinancial.com website. Quickenloans.com has been named a "Best of the Web" mortgage site by Forbes, Money and PC magazines. Rock Financial is Michigan's largest mortgage company and its two brick-and-mortar branches in southeast Michigan are the largest retail mortgage branches in the country.

Quicken Loans Inc. and its 1,500 mortgage professionals expect to close between $13-15 billion in mortgage loans in 2003. The company was voted "The Best and Brightest Company to Work for in Metro-Detroit" in 2002 and named one of Fortune Magazine's "100 Best Companies to Work For" in 2001 and 2002.

Penske Racing is the most successful Indy car racing team in history with 114 race wins, highlighted by a record 12 Indianapolis 500 Mile Race victories, 11 National Championships, and 141 pole positions.