Star Racing, Sponsor Part Ways

Americus, Ga., August 13, 2002 - Team owner George Bryce today announced that the search had begun for a new corporate partner of the NHRA Pro Stock Motorcycle ridden by two-time defending champion Angelle Savoie. Citing unexpected inconsistencies with the project's development, Bryce explained that Star Racing and CVEC Power Systems had decided to part company effective immediately.

"When we originally signed CVEC as our primary sponsor, we felt there was great potential in the program which could greatly benefit both organizations," said Bryce. "They have a quality product, and we have proven ourselves as effective corporate representatives. It really came down to bad timing. Their goal of bringing a motorcycle exhaust system to the market relied heavily on the participation of outside investors, which have yet to materialize.

"Therefore, we have decided it would be best to go our separate ways. We are in the process of negotiating a settlement, which will allow both companies to move forward. In this manner, they can take the time to further research their planned expansion, while the Star Racing team can concentrate on finding a new, long-term corporate sponsor, as well as winning the Powerade championship."

Today's announcement leaves Angelle and the Star Racing team in the midst of a heated championship battle without full financial support. Although admitting the last few months have taken their toll, Bryce was quick to squelch any notions that the team must suspend operations and acknowledged the contributions of those responsible for keeping Angelle's championship pursuit on track.

"There is no denying that this has been a distraction to our team, and the fact that we have run as well as we have says a lot about Star Racing's character," explained Bryce. "But make no mistake about today's news. We might have to tighten our belts a couple extra notches, but we're not going to park a championship-contending motorcycle.

"A huge word of thanks goes to our entire family of outstanding associate sponsors, including Suzuki and Snap-On Tools, without whose continued support we couldn't have stayed in the thick of this championship chase.

"Naturally, we are in the process of searching for a new marketing partner. It is not often that you can offer a potential sponsor a two-time and defending champion who is also currently the points leader, but that's exactly what they would get in Angelle and Star Racing. Hopefully, someone in corporate America will realize this great opportunity to join our championship team."