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Championship Auto Racing Teams Names Hardymon to Board of Directors

17 April 1998

Championship Auto Racing Teams Names Hardymon to Board of Directors

    DETROIT, April 16 -- Championship Auto Racing Teams, Inc.
Chairman and CEO Andrew Craig announced today that James F.
Hardymon has been appointed a member of the Company's Board of Directors.
    Hardymon is chairman and CEO for Textron Inc. , a $10.5 billion
global, multi-industry company with operations in Aircraft, Automotive,
Industrial and Finance.  Textron, based in Providence, R.I., ranks 130th on
the Fortune 500 list of companies.
    Hardymon joined Textron Inc. in December, 1989, as president, chief
operating officer and director.  He became chief executive officer at the
beginning of 1992 and was elected chairman of the board a year later.  Prior
to joining Textron, Hardymon served for 28 years in a variety of positions at
Emerson Electric Co., including vice chairman, chief operating officer,
director and president.
    "I am delighted to have the opportunity to serve the world of Champ Car
racing as a member of CART's Board of Directors," said Hardymon. "I have
experienced the sport first-hand as a sponsor and have found it to be a
positive business experience.  I believe some of the insights I bring to the
table will benefit CART, its shareholders and the sport."
    Hardymon, who has bachelor's and master's degrees in civil engineering
from the University of Kentucky, currently serves as a director of Fleet
Financial Group, Air Products and Chemicals, Inc., Groupe Schneider and Avco
Financial Services, Inc.  He also is a member of the board of the National
Association of Manufacturers and a trustee of the University of Kentucky.  He
served two tours of duty with the U.S. Army.
    "Jim Hardymon brings a wealth of experience to our board of directors,"
said Craig. "We look forward to having the benefit of his vision and business
acumen as we continue to grow Championship Auto Racing Teams."
    Championship Auto Racing Teams, Inc., owns, operates and sanctions North
America's leading open-wheel motorsports series -- the FedEx Championship
Series -- and is responsible for organizing, marketing and staging each of the
19 races in five countries that comprise the series.  It also is the owner and
sanctioning body for North America's top two open-wheel preparatory series --
the PPG Dayton Indy Lights Championship and the KOOL/Toyota Atlantic
Championship.

SOURCE  Championship Auto Racing Teams, Inc.