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CART comments on lowered stock rating by A.G. Edwards

19 January 2001

Posted By Terry Callahan
Motorsports Editor, The Auto Channel

DETROIT - In view of the unusual activity in the stock of Championship Auto Racing Teams, Inc., the New York Stock Exchange has asked us to put out a statement.

Yesterday a report was issued by A.G. Edwards, in which they lowered their rating of Championship Auto Racing Teams to "maintain", "due to uncertainty in regards to our ISL sponsorship guarantee.

Championship Auto Racing Teams, President and CEO, Joe Heitzler states:

"Although we are in discussions with ISL, it is premature to comment on the outcome of these discussions or the effect of ISL's management changes and other sports property renegotiations on cart's revenues and marketing plans. We will continue to have discussions with ISL in an attempt to resolve this matter."

Text Provided By Tom Carter

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