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RML Grand Prix Update

01/06/2009

RML Grand Prix

1st June 2009

During the last 10 weeks, RML Group have evaluated the exciting opportunity offered by the FIA to potential new Formula 1 entrants, and prepared an application to join the FIA Formula 1 World Championship in 2010.

Our analysis indicated that the technical and financial regulations as published by the FIA on 30 April were extremely well-suited to our organisation, whose attributes have attracted many motor manufacturers to partner with RML over the past 25 years and yielded numerous international and national sportscar, touring car, and rally championships. In this process, we also enjoyed significant interest from prospective partners attracted by the FIA's proposed changes.

However the recent uncertainty regarding the details of the application of the budget cap and participation of the other teams and manufacturers has meant that we were not in a position to lodge an entry prior to the 29th May deadline. Nevertheless, RML remain open to participating in Formula 1 in the future and will monitor developments closely. In the meantime, we wish to express our appreciation for the efforts of the FIA and Formula One Management to create the conditions for a new approach to Grand Prix racing and secure the future of the sport.

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