SEPTEMBER 28, 1998

Formula 1 and Indianapolis

BOTH the Indianapolis Motor Speedway and Bernie Ecclestone have denied reports in the Indianapolis Star newspaper that a deal has been reached for the United States Grand Prix to be held at the Brickyard for 10 years, starting in September 2000.

BOTH the Indianapolis Motor Speedway and Bernie Ecclestone have denied reports in the Indianapolis Star newspaper that a deal has been reached for the United States Grand Prix to be held at the Brickyard for 10 years, starting in SeptemberÊ2000.ÊThe newspaper - which is well-connected at the Speedway - reported last week that Indianapolis owner Tony George and Ecclestone had reached an oral agreement and that George was going to invest $15m in upgrading the circuit. A local TV station also reported that a deal had been agreed but was not signed. There were also reports of a draft press release being circulated at the Speedway.

We believe that the race will go ahead but that there is a sticking point between George and Ecclestone over the date of the race. George is understood to want a date in September while Ecclestone would prefer to tie the race to the Canadian GP in June.

If the deal goes ahead, the $15m investment will include a completely new pit building with 24 F1 standard pit garages and an area for the Paddock Club.