Worldwide PetroMoly and IRL Agree on Product Sponsorships
21 April 2000
Worldwide PetroMoly and Indy Racing League Agree on Product Sponsorships for the 2000 Season
HOUSTON--April 20, 2000--PetroMoly introduces "The PetroMoly Fuel Stretch Award" to the IRL
Worldwide PetroMoly Inc. (OTC BB:MOLY) announced today it will enter into contingency sponsorships with all Indy Racing League (IRL) teams that agree to use and advertise PetroMoly Oil Treatment in and on their racecars for the remaining races in the 2000 season. The Company has agreed to supply all willing participants the oil treatment product and company decals, and plans to pay a cash prize to the complying team who stays out the longest before refueling for the first pit stop in each remaining race. The cash prize is called "The PetroMoly Fuel Stretch Award," and it will be advertised at all of the track venues, IRL magazine programs, voice announcements, banquets, and wherever else practical.
In the 1999 IRL season, Worldwide PetroMoly sponsored the racecar driven by Robby Unser and owned by Dale Pelfrey of Team Pelfrey. During that time, the PetroMoly lubricating technology was used in all races and practices including the Indy 500, and was credited towards supplying an advantage to fuel economy and extra power, adding to the team's successful season.
"Last year we validated our oil technology as a very easy and effective way to achieve extra horsepower while using less fuel," says Lance J. Rosmarin, President and COO of Worldwide PetroMoly. "This year we still plan on associating with Robby Unser as well as Dale's team, but we were presented with the opportunity to provide contingency sponsorships with all of the IRL teams which agree to use our oil `treatment' product. This is an extremely cost effective way to display our molytech(TM) technology in a large field of elite engines. These guys are always pushing their limits, so the cars using PetroMoly should experience a new tolerance level, helping them to compete even harder. And to help motivate them, we are going to award the crew who pushes the envelope the furthest and stays out the longest," says Rosmarin.
"The IRL is known to have very strict standards in approving a product to be used by its league's competitors, and PetroMoly's technology, now being an overall approved racing product, speaks to its safetyness on top of its well proven effectiveness. We expect this exposure to translate to both the racing and retail markets. PetroMoly Oil Treatment is not just for racecars, it is also designed to work in passenger cars. Its works synergistically with all API approved motor oils, petroleum base or synthetic." Rosmarin adds.
Worldwide PetroMoly, Inc. manufactures, markets and distributes high-performance lubricants for use in all types of motor vehicles, compressor engines and railroad locomotives. PetroMoly products incorporate a new proprietary process technology called molytech(TM). These products contain stable and suspended molybdenum disulfide (moly), a hard and extremely low-friction metal, which fills in the micro-porous, crater-like surfaces of pistons, rings and cylinder walls. This creates a more efficient engine environment and prevents metal-to-metal contact, thereby reducing friction, heat and wear. Moly is a slick and powerful antioxidant, known to have the world's lowest coefficient for friction. For more information please visit the PetroMoly web site at www.petromoly.com. For the IRL schedule please visit www.indyracingleage.com.
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Words such as "expects", "anticipates", "estimates" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. The Company has no obligation to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances.