AUGUST 28, 2006

Spyker reacts

Spyker Cars NV and the M-Consortium headed by Michiel Mol have issued a press statement, confirming our report that they are in the process of trying to buy the Midland F1 team.

Spyker Cars NV and the M-Consortium headed by Michiel Mol have issued a press statement, confirming our report that they are in the process of trying to buy the Midland F1 team.

"The outcome of the negotiations is still depending on a number of conditions and circumstances," the statement says. "In the event that such acquisition would materialize, Spyker will consider a share issue to (partially) finance the transaction. M-Consortium has expressed its willingness to subscribe to this issue for a large part. At the appropriate time further announcements will be made."