GM PARTNERS SPONSOR CHEVROLET’S NEW C5-R CORVETTE

DETROIT (November 3, 1998) - Several of General Motors subsidiaries and business partners have stepped to the pump to fuel the sponsorship of GM’s first "official" factory racing effort for Corvette, dubbed C5-R. The sponsorship announcement comes on the heels of industry speculation that Corvette was planning to intensify its already record-breaking assault on the sports car segment.

GM Goodwrench Service Plus, marketed by GM Service Parts Operations (SPO) and current sponsor of NASCAR legend Dale Earnhardt and NHRA champion Warren Johnson, has expanded its successful GM racing portfolio by becoming the primary sponsor for the Chevrolet C5-R Corvette.

"Racing fans know the value of exceptional service and are therefore our potential customers," said Bill Fitzgerald, manager of event marketing for SPO. "We look forward to exposing these new fans to the gold standard of automotive service with another sponsorship of a destined-for-success GM racing program."

GM Goodwrench Plus is a common-sense, customer-oriented approach to selling GM dealership service that provides customers with the service benefits most commonly asked for, including: up-front pricing, convenient service hours, courtesy transportation, and a Lifetime Service Guarantee covering parts and labor on many customer-paid repairs.

UAW-GM, reinforcing its efforts to build a world-class sports car for GM, has sponsor for the factory-backed endeavor. "UAW-GM’s involvement in this program helps us honor the achievements of our workers and demonstrates the success we have when we work towards a common goal," said Richard Shoemaker, vice president and director of the UAW General Motors Department.

When talking with Bill Jackson, president of UAW local 2164, Bowling Green, Ky., Corvette assembly plant, it didn’t take long to figure out that everyone who works to make Corvette special takes great pride in their accomplishment. "Here in Kentucky, Corvette is a thoroughbred, and it’s only natural that we support our thoroughbred on the track," said Jackson.

This pride is evident throughout the entire UAW-GM organization. The fact that this is a factory team, using factory components and processes, backed by factory sponsors, makes this effort about as pure as one will find. "Through innovation and teamwork, General Motors employees are working together to make GM a leader in the highly competitive automotive industry. The Chevrolet Corvette program is another great example of this commitment," said Gerald Knechtel, vice president of personnel, GM North American Operations.

General Motors Acceptance Corporation (GMAC) joins Chevrolet and Team Corvette as a sponsor with plans to broaden consumer exposure for GMAC’s retail automotive financing products and for the GM Protection Plan.

"GMAC and the GM Protection Plan are natural sponsors for the Corvette, America’s sports-car icon," said Terry Sullivan, GMAC vice president for merchandising, advertising and communications. "Corvette is pure performance, and we are excited to play a significant role in the C5-R project. For the past five years, GMAC has been involved in motorsports sponsorships with the Hendrick Motorsports NASCAR Winston Cup Chevrolets driven by Jeff Gordon, Terry Labonte and Wally Dallenbach along with the NASCAR Craftsman Series Chevrolet Truck driven by Jack Sprague."

Mobil Oil Corporation and its Mobil 1 brand, the world’s leading fully synthetic motor oil, has come to the sponsor’s table for Corvette as well. Mobil 1 has been the factory fill and recommended after-market oil for all Corvettes since 1992, and is recommended on the fill cap of all new Corvettes.

"Corvette is the classic American sports car with a long history of performance and Mobil Oil Corporation is the leader in synthetic oil technology. Our relationship with Corvette has grown out of our mutual desire to create a product that is recognized by consumers as the best the world has to offer," said Jeff Eckstein, national account sales manager, North America.

Action Performance Companies Inc., is a leader in the design, marketing and distribution of licensed motorsports-related apparel, souvenirs, die-cast replica collectibles and other memorabilia.

Headquartered in Phoenix, Az., the company markets and distributes products through a variety of channels, including the Racing Collectables Club of America, trackside at racing events, mass retail department stores, and a nationwide wholesale network of approximately 5,000 specialty dealers and distributors.

"We’re honored to be a part of such an exciting racing project," said Fred Wagenhals, president and CEO, Action Performance Companies Inc. "We’ve enjoyed working with some real racing legends over the years, and we feel like we’ve joined forces with another classic - the Corvette."