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OCTOBER 7, 2003

Irish Investors buy stake in Jordan Grand Prix

A consotrium of Irish Investors led by Stockbrokerage Merrion have purchased 49.9% of the shareholding in Jordan Grand Prix for an undisclosed amount. The group of new investors purchased the stock from the venture capitalist company Warbur, Pincus & Co, who acquired their stake for around $60m at the end of 1998.

Merrion issued a statement today saying that the new investors had been attraced by "Jordan's proven ability to win races... and by the vibrant, can-do culture of the Jordan brand and (team boss) Eddie Jordan."

Irishman Jordan said, "Looking ahead, I very much welcome my new partners in Merrion to Jordan Grand Prix and I am very excited to have a stable platform to propel the team to even greater achievements and to proudly wave the Irish flag in Formula One."