TRANS-AM RACING, LLC AGREES WITH SCCA TO RETAIN TRANS-AM NAME

LANSING, Mich. (Jan. 30, 2004) ‹ Trans-Am Racing, LLC (³TAR²), a wholly
owned subsidiary of Open Wheel Racing Series (³OWRS²), has agreed to a
licensing arrangement with Sports Car Club of America (³SCCA®²) to continue
its use of the Trans-Am® name in the promotion of the Motorock Trans-Am
Tour. The naming agreement extends the licensing of Trans-Am¹s marketing and
promotional rights initiated in 2003. The new contract takes affect
immediately. OWRS also owns and operates the Champ Car World Series.

 ³We are excited to carry forward the Motorock Trans-Am Tour, America¹s
oldest and most historic sports car racing series,² said Trans-Am Executive
Director John Clagett. ³This agreement is key to our plans for this season,
and into the future. We¹re privileged to write another page in the rich
history of Trans-Am racing in North America.²

³I have been a part of the Trans-Am Tour as a competitor and team owner
since 1987, and I¹m eager to continue the Trans-Am legacy,² said OWRS
partner Paul Gentilozzi.

³We are dedicated to restoring Trans-Am to its rightful place as North
America¹s top sports car championship,² added the three-time Trans-Am
Drivers¹ Champion.

"Trans-Am is not only a part of SCCA's heritage, but a major name in the
American automotive industry," said SCCA President and CEO Steve Johnson.
"We're happy to have reached an agreement with OWRS, which means the
Trans-Am name will carry on with its 39th season in 2004.
 
"Paul (Gentilozzi) has been an SCCA Champion, member and valued partner for
years, and we look forward to continuing our relationship in many areas in
the future."
 
The Motorock Trans-Am Tour features closed-fendered, production-based,
V-8-powered sports cars, competing on permanent road courses, and temporary
street and airport circuits throughout North America. The Trans-Am Tour is
America¹s oldest continuously running road racing series and celebrates its
39th anniversary in 2004.
 
Motorock is the creation of a popular culture brand that blends the
enthusiast markets of cars, stars and guitars. It is a yearly series of
destination live events that showcases the excitement of motorsports, music
and lifestyle while delivering a unique new form of broadcast entertainment
programming.