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IROC Seeks Title Sponsor for 2004

Tinton Falls, N.J. (Feb. 7, 2003) - The International Race of Champions announced today it would seek a replacement Title Sponsor for 2004 due to the departure of True Value from auto racing at the conclusion of the 2003 season.

The departure of TruServ from auto racing is due to realignment of the corporation's marketing investments. Carol Wentworth, VP Marketing and Advertising stated that "Our 19 year partnership with the International Race of Champions has increased brand exposure for True Value. True Value is proud of our association with the IROC Series and everyone at True Value appreciates the value that the IROC Series delivered to make our sponsorship a success. Our decision to depart from auto racing at the end of the 2003 season is necessary to continue along our path of financial success."

IROC President, Jay Signore said, "In 1984 True Value came on board as an associate sponsor with a small decal on the front fender and grew throughout the years to become the entitlement sponsor in 1999. The longevity and growth of our relationship with True Value over the last 19-years defines the successful nature of the partnership. We regret the loss, but understand the position True Value is in and we will be forever grateful for all the years of their loyal support."

The Specialized Marketing Group, Inc. (TSMGI), headquartered in Deerfield, IL, who currently handles licensed product relations for the IROC Series, has been retained to pursue sponsorship and manage sponsor relations and event activities. Jordan Bressler, President of TSMGI, said "We are confident in the ability to bring a new Series Title Sponsor to the table. The IROC Series provides a great value to sponsors who are currently in the sport and not able to find their way to the winners circle, or potential sponsors who are looking for a cost effective point of entry into the sport."

IROC is hopeful for other changes in 2004. "We're looking to move the series forward in our search for a new Title Sponsor, in addition to our search for car manufacturer support, " said, Signore. "Our goal is to start anew in 2004 and with the right sponsorship package we could pursue ways to diversify the current format, which we have been locked into due to scheduling and economics. The strength of the IROC Series as a marketing platform has been clearly defined by the long-term relationships encompassing its 26-year history and we are looking forward to continuing that tradition with new long-term partners."

The International Race of Champions matches 12 drivers from different forms of auto racing in equally prepared cars, on Goodyear Eagle radial racing tires. The goal is to eliminate the mechanical advantages and to produce a winner determined solely on driver skill. The series consists of four 100-mile races at different racetracks with points awarded for finishing positions. At the end of the fourth race, the points are tallied and a champion of champions is named.


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