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CART Changes NYSE Ticker Symbol to MPH

27 July 1998

CART Changes NYSE Ticker Symbol to MPH

    BROOKLYN, Mich., July 26 -- Championship Auto Racing Teams,
Inc. announced today that, effective Monday, July 27, its New York
Stock Exchange stock ticker symbol will be changed to MPH.
    The announcement was made by CART Chairman and CEO Andrew Craig during a
brief ceremony at Michigan Speedway as the 850 horsepower Champ Cars and the
teams and drivers that race in the FedEx Championship Series were preparing
for Sunday's U.S. 500 Presented by Toyota.
    "MPH is a natural choice for a company such as ours.  At the time of the
initial public offering, we knew that MPH would become available to us and we
are delighted to make the change," said Craig.
    Since the company's IPO on March 10 there have been a number of
significant developments.  It purchased both the American Racing Series (ARS)
and Pro-Motion Agency, which operate the PPG Dayton Indy Lights Championship
and the KOOL Toyota Atlantic Championship, respectively.  It also recently
announced a long-term agreement with ISL Marketing to handle the sale of
sponsorship programs for the three racing series.
    CART owns, operates and markets the FedEx Championship Series, North
America's premier open wheel racing series.  CART will conduct 19 race events
in five countries and on four continents in 1998 and features drivers, such as
Michael Andretti, Bobby Rahal, Al Unser, Jr., 1996 series champion Jimmy
Vasser and defending PPG Cup champion Alex Zanardi.
    CART also owns, operates and markets the PPG-Dayton Indy Lights
Championship, a 14-race series of open wheel events, as well as the KOOL
Toyota Atlantic Championship, a 12-race, open-wheel racing series.  Many of
the events in both series are conducted in conjunction with FedEx Championship
Series races throughout North America.