KV Racing Technology co-owners Kevin Kalkhoven and Jimmy Vasser announce two cars for 2008 IndyCar Series season.

“Jimmy and I are very pleased to announce a new chapter in the history of our team which will campaign a two-car effort during the 2008 IndyCar Series season,” said Kalkhoven. “In conjunction with our commitment to the IndyCar Series we have re-branded the team as KV Racing Technology and agreed to a sponsorship arrangement with Aussie Vineyards – Team Australia. This will allow Will Power to join teammate Oriol Servia in what I believe will be the most competitive and exciting open-wheel racing series. We want to welcome both Aussie Vineyards – Team Australia and Will Power to our team and we look forward to a very successful season in 2008 and for many years to come.”

KV Racing Technology is entering its sixth year of competition and its first in the IndyCar Series. Servia, who came to an agreement with the team earlier this year, will be behind the wheel of the KV Racing Technology #32 Honda/Dallara//Firestone entry while Power will pilot the KV Racing Technology #8 Aussie Vineyards – Team Australia Honda/Dallara/Firestone machine.

“I am very excited that KV Racing Technology will be competing in what I think will become the most challenging open-wheel series,” said Vasser. “Speaking from past experience, this series will be one of the most difficult to win because it requires a driver and a team to race on a variety of different tracks. To win the championship you have to be competitive in all disciplines of open-wheel racing.”

Commenting on the addition of Will Power, Vasser said, “Will is an extremely capable and competitive driver. Over the last couple of years he has shown the ability to win races and challenge for the championship. Teaming Will with Oriol will give KV Racing Technology two veteran drivers who bring a lot of experience and talent to our team.”

Power, 27, is entering his fourth year of open-wheel completion. The native of Toowoomba, Australia won the 2002 Formula Holden Championship in Australia and successfully competed in Australian Formula Ford, Australia Formula 3, British F3 Championship and World Series Powered by Renault as well as testing for the Minardi Formula 1 team. The resident of Aston Clinton, Bucks, Australia and Indianapolis, Indiana made his Champ Car debut in 2005 contesting two events for Team Australia (Walker Racing) earning his first Champ Car top-10 finish in just his second start (Mexico City). In two plus seasons of Champ Car competition, just 30 starts, all with Team Australia, Power has finished in the top-10 a total of 19 times including 11 top-five showings with six podium performances, two victories and six poles. Power was the Rookie of the Year and won the Bridgestone Passion For Excellence Award in 2006 after finishing sixth in the championship standings with nine top-10 finishe s including three top-five showings, one podium and one pole (becoming the first Australia to win a Champ Car pole). In 2007, he was in the championship hunt until the end of the season eventually placing fourth (highest showing ever by an Australian) with nine top-10 finishes including eight top-five showings with five podiums and the first two wins of his career (the first by an Australian). He also earned five poles.

Regarding joining KV Racing Technology Power said, “This is a great opportunity for Aussie Vineyards – Team Australia and me. It will be my first season in the IndyCar Series and having Jimmy Vasser to help mentor me on the ovals will make the transition easier. I look forward to racing with Oriol and working with the entire KV Racing Technology Team. This is a first class organization and I am happy to continue my open-wheel racing career with them.”

Aussie Vineyards – Team Australia continues its presence in U. S. open-wheel racing by combining its effort with KV Racing Technology in 2008. Aussie Vineyards was created to help with the sales and marketing of Australian wines into the United States and other world markets. It is headed by Craig Gore, who also created the Team Australia concept which uses motorsport as a marketing tool for Australian companies wanting to increase their brand awareness and sales on a global scale with a major focus in the U. S. Partnerships created through its racing programs have helped Aussie Vineyards place their products in more than 5000 outlets throughout the U. S. Aussie Vineyards mission is simply to “bring the best Australian wines to the world.”

"I think we are heading into an exciting new era of open wheel racing and I could not think of better partners to have than Kevin Kalkhoven and Jimmy Vasser," said Gore. "I am sure KV Racing Technology will be competitive in 2008 and beyond, and I look forward to seeing the Aussie Vineyards – Team Australia car, not only on the streets of Surfers Paradise in October, but, for the first time, at the Indy 500 in May.”

Gore went on to say, "Will Power is one of the best young racing talents Australia has ever produced. We are delighted that he can continue his career in Team Australia colors as he continues to do his country proud. We believe that the Team Australia program has been a terrific platform to take Australian brands into the U.S. market and this new partnership will only generate more opportunities."

Servia, a veteran of eight Champ Car seasons, will contest his first IndyCar Series season in 2008. The 33-year-old native of Pals, Catalonia, Spain, moves forward with KV Racing Technology continuing his previously two-year association with Kalkhoven and Vasser. Servia has placed in the top-10 in the championship standings in four of the past five seasons with a career high second place showing in 2005. The resident of Miami, Florida has earned 70 top-ten finishes including 34 top-five showings with 16 podium performances, one victory (Montreal 2005) and the pole (Surfers Paradise 2005) in 125 career starts.

About KV Racing Technology:

Founded in January 2003, (originally as PK Racing, than as PKV Racing from 2004 through 2007), Indianapolis-based KV Racing Technology will contest its sixth season of competition, and first in the IndyCar Series, during the 2008 season. KV Racing Technology is owned by successful venture capitalist Kevin Kalkhoven, who was also a co-owner of the Champ Car World Series, along with 1996 Series Champion Jimmy Vasser. Vasser, who last drove an open-wheel competitively at Long Beach on April 9, 2006, is now deeply involved in team operations and mentors the team’s drivers. Veteran motorsports manager Mark Johnson is the team’s General Manager and handles the day-to-day operations. KV Racing Technology has earned one victory, by Cristiano da Matta in Portland in 2005, and two poles, by Tristan Gommendy at Mont Tremblant last year and Vasser at Milwaukee in 2005. For more information about KV Racing Technology visit: www.kvracingtechnology.com