Federal-Mogul extends NHRA sportsman series sponsorship

GLENDORA, Calif. (June 17, 2000) - Federal-Mogul (NYSE: FMO) has extended its sponsorship of the NHRA Federal-Mogul Drag Racing Series through the 2003 racing season, reaffirming its position as the leading sponsor of sportsman drag racing in the United States.

Highlighting the sponsorship extension is a significant increase in bonus packages for national and divisional series championships offered by Federal-Mogul, elevating the total series purse to more than $550,000.

"We couldn't be happier with Federal-Mogul's decision to extend its sponsorship through the 2003 season. This extension reinforces our commitment to the sportsman community," said Tom Compton, president of NHRA.

"Clearly there is no other form of motorsports that better reaches the aftermarket consumer than NHRA Drag Racing."

Federal-Mogul's sponsorship of NHRA sportsman racing started in 1997 and since that time the company has increased the year-end championship purses for the eight NHRA Federal-Mogul racing categories: Federal-Mogul Dragster, Federal-Mogul Funny Car, Competition Eliminator, Super Stock, Super Comp, Stock, Super Gas and Super Street. In addition, the series has seen track attendance grow steadily throughout the division schedule. Presently, more than 36,000 racers participate in the NHRA Federal-Mogul Drag Racing Series, which includes 66 events in 2000 - 43 divisional events and 23 national events.

The increased divisional and national championship bonuses, which will take effect in 2001, will increase the total pay out to $561,000, a 45 percent increase over the 2000 series purse.

Federal-Mogul also has created a separate purse of approximatley $172,000 in support of its Sealed Power® Low Qualifier Award. This award - named for the company's primary brand of internal engine components - will be posted at all national and divisional events in the Federal-Mogul Dragster, Federal-Mogul Funny Car, Competition, Super Stock and Stock categories.

"These programs represent the first of several major enhancements to our participation in NHRA competition," said Shelley Pepmeier, motorsports marketing manager for Federal-Mogul. "The result will be unmatched exposure for our entire engine systems platform - Sealed Power® engine parts, Fel-Pro® gaskets and Champion® spark plugs."

Said Gary Darcy, NHRA vice president of marketing: "Clearly NHRA Drag Racing is an ideal platform for Federal-Mogul to build its key engine brands while delivering a sizeable customer base. Our demographics uniquely match those of Federal-Mogul's traditional customer base. In turn, that customer base provides a great opportunity for NHRA to build and grow its brand and fan base.

"With the other announcements planned in the near future, we're confident that the partnership between NHRA and Federal-Mogul will only strengthen. This partnership is one that demonstrates NHRA's commitment to the sportsman community and our continued quest to service the very special needs of this important constituency. The NHRA was founded on preserving the right to race and grassroots racing and there is no better forum, nor better partner, that fulfills that objective than Federal-Mogul."

Southfield, Mich.-based Federal-Mogul Corporation, which was founded in 1899, is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, small engine, heavy-duty and industrial markets.

Headquartered in Glendora, Calif., the NHRA is the primary sanctioning body for the sport of drag racing in the United States. It presents 23 national events through its NHRA Winston Drag Racing Series. The NHRA has 85,000 racers and members nationwide, and 144 member tracks. The NHRA-sanctioned sportsman and bracket racing series' provide competition opportunities for drivers of all levels. The NHRA develops the stars of tomorrow by offering the Federal-Mogul Drag Racing Series, NHRA Summit Racing Series and the Street Legal Program. The NHRA also offers the Castrol GTX Jr. Drag Racing League for youths ages 8 to 17.

2001 season-ending payout structure in the NHRA Federal-Mogul Drag Racing Series:

F-M Dragster & F-M Funny Car: National champion, $37,500 National runner-up, $15,000 Divisional Champion, $8,500 Divisional runner-up, $4,000 Divisional third place, $2,500

Competition & Super Stock: National champion, $15,000 National runner-up, $5,000 Divisional champion, $3,000 Divisional runner-up, $1,000 Divisional third place, $500

Stock, Super Comp & Super Gas: National champion, $10,000 National runner-up, $5,000 Divisional champion, $2,000 Divisional runner-up, $1,000 Divisional third place, $500

Super Street: Divisional champion, $2,000 Divisional runner-up, $1,000 Divisional third place, $500