Joe Gibbs Racing Announces Move to One Car Operation

CHARLOTTE-- (JULY 3, 2001)-- After searching for sponsorship for the # 20 NASCAR Busch Series team since late January, Joe Gibbs Racing announced today that it will scale back from a two car team to a one car team effective immediately. Joe Gibbs Racing also announced that Mike McLaughlin will represent the # 18 car which MBNA has been associated with over the past several seasons.

"This was obviously a decision that we hoped we would never have to make," said Joe Gibbs Racing President JD Gibbs. "Our goal is to field two championship caliber Busch Grand National teams and we will have one of those teams on standby waiting for sponsorship."

Gibbs also announced that Jeff Purvis will be free to pursue other racing opportunities.

Gibbs also expressed his appreciation to Jeff Purvis for his service to Joe Gibbs Racing.

"Jeff Purvis has had a big part in helping us build our Busch Grand National program to where it is today. We wish him continued success both on and off the track."

McLaughlin will continue to race with his current team under the leadership of team manager Doug Richert and crew chief Tim Shutt.

Joe Gibbs Racing will continue to search for sponsorship for the #20 team, both for the remaining 2001 schedule as well as the 2002 season. The team will operate with all its existing employees and will be ready for an immediate return to the track once sponsorship is secured. Vice President of Business, Dean Noble will continue to lead the search for sponsorship, he may be reached at 704-944-5000.