MAY 13, 2009

Renault duly follows...

The Renault Formula 1 team and parent company Renault issued the following statement on Wednesday:

The decision of the Federation International de l™Automobile (FIA) to introduce two sets of Formula 1 technical regulations for the 2010 Formula 1 season has caused the Renault Group to reconsider its entry in next year™s FIA Formula 1 World Championship.

There is frustration that FOTA™s constructive proposals, including major cost saving measures to be adopted progressively between 2009 and 2012, which were carefully constructed by FOTA members, have been completely ignored without any form of consultation by the FIA with the teams.

It should be stressed that FOTA has set the same, if not lower, financial objective as the FIA, but Renault strongly believes that this must be introduced through a different procedure agreed by all parties.

Renault also believes that it is paramount that the governance of the sport is coordinated with a spirit of consultation with all parties (FIA, FOM, FOTA) in order to achieve a better balance between the costs and the revenues. Renault is also of the firm view that all entrants in the World Championship must adhere to and operate under the same regulations.

President of the ING Renault F1 Team, Bernard Rey, commented: œRenault has always considered Formula 1 as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence. We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out at the end of this season.

ING Renault F1 Team Managing Director, Flavio Briatore, commented: œOur aim is to reduce costs while maintaining the high standards that make Formula 1 one of the most prestigious brands on the market. We want to achieve this in a coordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA. If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula 1 World Championship at the end of 2009.