Ultra Motorsports statement on closing shop

Smith Responds To Rumors About Closing Of Ultra Motorsports

Mooresville, NC (January 11, 2006) - Veteran NASCAR Craftsman Truck Series team owner Jim Smith, who closed his Ultra Motorsports team last week, today addressed the reasons surrounding the organization's shut down.

"The reason we decided to shut down had absolutely nothing to do with Ford," said Smith, in responding to rumors that had the manufacturer not producing a promised deal for the 2006 NASCAR Craftsman Truck Series season. "Ford was more than gracious in their offer to back us for the 2006 season. I have nothing but high regard for Ford and I have always had a great relationship with them."

Smith, one of the founding fathers of the Truck Series in 1994, won the 2005 division championship with Ted Musgrave handling the driving chores. The championship was the first for Ultra Motorsports, which had fielded at least one truck in each of the 267 events in the history of the Truck Series. The team, which campaigned Dodge trucks last season, ended its run with a division-record 37 victories.

A reduction in support for Truck Series teams by Dodge, however, left Smith searching to partner with a new manufacturer for the 2006 season. Ford, which backed Smith's Ultra Motorsports from 1995-2000, stepped up to the plate and was set to be on board for the 2006 campaign. When the closing of Ultra Motorsports was announced last week, Ford was unjustly accused of the team's demise according to Smith.

"Nothing could be further from the truth," said Smith. "We had to assess our entire program after Dodge decided to allocate its resources elsewhere for 2006. When we looked at the big picture, the numbers just didn't add up. It's a shame we had to close our doors, but we're extremely proud of the record Ultra Motorsports compiled over the years. Like they say, all good things must come to an end and for us, this is the end."

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