PORTLAND (August 20, 2004) – Today, officials from the Champ Car World Series and the City of Portland, along with community business leaders, announced a memorandum of understanding that will keep the Champ Cars at the Portland International Raceway road course for the next three seasons.

The Bridgestone Presents The Champ Car World Series Powered by Ford has brought the premier open-wheel racing series in North America to the Pacific Northwest for the past 21 years, running every year since 1984 at PIR.

Champ Car President Dick Eidswick and Portland Commissioner of Parks and Recreation Jim Francesconi along with community business leaders held a meeting in Portland today, where they reached an agreement that would keep the Champ Car tradition alive at the 1.969-mile permanent road course. They then announced that agreement in a press conference held on the steps of Portland City Hall.

‘It has always been our position that we wanted to continue racing in Portland,’ said Eidswick. ‘The Portland market is very important to the series, our drivers enjoy the track and this past year’s race showed the potential that this event has. We believe that a strong partnership between Champ Car, city officials and community business leaders will help us build strong events in Portland for years to come.’

Many of the principals involved in the Portland event spoke at today’s conference, including Executive Director of the Oregon Sports Authority Drew Mahalik, President of the Portland, Oregon Visitors Association Joseph D’ Alessandro and Norm Daniels from longtime race sponsor G.I. Joe’s.

One of the longest-running events on the Champ Car calendar, Portland has long been a major draw for Champ Car, attracting over 125,000 fans for 10 consecutive years through the 2002 season. This year’s event provided fans with an exciting weekend of racing, topped by a victory for series points leader Sebastien Bourdais (#2 McDonald’s Ford-Cosworth/Lola/Bridgestone).

For more details contact, Champ Car Communications, (317) 715-4100