For Immediate Distribution Aug 10, 2009

FRD and SIC looking towards the future of their partnership

Formula Racing Development Ltd (FRD) and Shanghai International Circuit (SIC) first started their partnership back in 2004, when FRD started its Shanghai work base at SIC. In the same year the two parties announced the ¡°Shangsai FRD Team¡± and have continued working together on many projects since then.

In 2004 and 2005, together with SIC, FRD brought C1 to the brand new Shanghai International F1 Circuit. Mr. Jackie Chan, the famous international star, acted as the celebrity team captain. The two events generated over four million RMB for the China Charity Foundation and set off a wave of celebrity charity in Eastern China. After the two very successful events, FRD and Mr. Jet Li's ¡°One-Foundation¡± reached an agreement and started their C1 partnership in 2007. The founder of the One Foundation, Jet Li, became the honorary celebrity team captain. The May 2008 celebrity race had exceptional meaning by generating funds to assist the unfortunate ¡°May 12, Wen Chuan earthquake¡± victims.

For the 2009 season, FRD and SIC decided to continue working together for the August C1 race weekend. Mr. Leng Yao said:¡±SIC has been the major venue for F1 and many other different events in China. And in recent years, we have been considering starting a signature race for SIC. We would like to be more involved in racing events, not only on circuit management but also the events themselves. SIC and FRD & the C1 events have formed a very good relationship, and C1 is indeed bringing a good impact to society. I believe that SIC and FRD will have a good outcome on our partnership, not only on the C1 project but also other possible areas.¡± Kenneth Ma, FRD's president, indicated that ¡°SIC is no doubt the top racing venue in China and after years devoted to developing racing culture in the region, SIC has achieved great progress¡ªShanghai is now one of the cities in China with the best-developed race interest. FRD, on the other hand, started working in Motorsport in China since 1997 and FRD is now one of the leading Motor Sport event organizers, promoters and racing team operators in China and greater Asia. With better integration of resource advantages, I believe that FRD and SIC's partnership will head to a promising future.¡±