IRL Approves New Chevy Engine

    LEBANON, Tenn., Saturday, July 19, 2003 - The Indy Racing League
announced today that it has approved a new engine design for Chevrolet for
competition in the IndyCar Series. The change was approved after IRL
officials received a formal request from GM Racing, the technical arm of
GM's motorsports program.

    The newly designed engine, which has been designated by GM Racing as
the Gen IV Chevy Indy V-8, was approved under terms and conditions set
forth by the Indy Racing League.

    According to Brian Barnhart, senior vice president of racing
operations for the IRL, the league has approved the use of the newly
designed engine for two consecutive races, beginning with the Firestone
Indy 400 at Michigan International Speedway on July 27 in order to test the
engine under race conditions pursuant to the Indy Racing League Engine
Manufacturer Agreement.

    GM Racing will make the engine (including spares and spare
parts) available to all full-time IRL entrants at the Belterra Casino Indy
300 on Aug. 17 at the Kentucky Speedway.

    The IRL and GM Racing have agreed that Panther Racing, the current
season points leader among Chevrolet teams, will test the engine in the
Michigan race in the No.4 Pennzoil Panther Dallara/Chevrolet/Firestone
driven by reigning IndyCar Series champion Sam Hornish Jr.

    To create as much opportunity as possible among Chevrolet teams prior
to full introduction of the Gen IV Chevy Indy V-8, the next-highest
placed Chevrolet team - other than Panther car No. 4 - in  the season
entrant point standings after Michigan will be selected to test the engine
at the Emerson 250 on Aug. 10 at Gateway International Raceway near St.
Louis.

    "In making our decision, the IRL had to consider the overall effect
on competition anticipated by the introduction of the new engine, including
the availability of the engine to all entrants, as well as ensuring that
the cost of the design change is not passed on to the teams," said
Barnhart. "With that in mind, we have found the newly designed engine and
castings to be in conformance with the rules."

    Additionally, Barnhart has requested that GM Racing provide
sufficient personnel to IRL entrants if needed to install the engines on a
timely basis.

    Barnhart approved this process via the Indy Racing League
Engine Manufacturer Agreement that allows a manufacturer to provide updates
to an engine. The agreement calls for the manufacturer to obtain the IRL's
approval prior to any use and further states that the updated part be made
available to all teams after a specified number of uses.

    "The request by GM Racing was based on performance deficiency
demonstrated during the current season and the reliability problems created
by efforts to address the performance deficiency," Barnhart said. "While
continuity and consistency are an important consideration for the IRL, it
is equally important that the league's hallmark of competitive,
side-by-side racing be available for our fans and competitors."

    General Motors has been an engine supplier in the IndyCar Series since
the series introduced its naturally aspirated engine formula in 1997.
Representing GM, Chevy made its return to Indy-style racing in 2002.

     


  E-mail from: Rick Voegelin, 19-Jul-2003