FOR IMMEDIATE RELEASE

From Formula 1 headquarters in Abu Dhabi - U.A.E. A three year contract has been signed today between Abu Dhabi Television and the UIM F1 contracted promoter Mr Nicolo di san Germano for the acquisition of exclusive rights for full live events of every Formula 1 powerboat Grand prix for the territory of Abu Dhabi Sport Channel Satellite footprint.

This territory covers following nations : Saudi Arabia, Yemen, Oman, U.A.E., Qatar, Bahrain, Iraq, Iran, Kuwait, Syria, Lebanon, Jordan, Palestine, Egypt, Sudan, Libya, Tunisia, Algeria, Morocco, Mauritania, Somalia and Djibouti.

At the press conference today, Nicolo di San Germano stated as follows : This agreement is a valuable addition to the ones already signed with TV 3 - Malaysia, Globo - Brazil, and AB Moteurs - France. More agreements are under negotiation.

The agreement in between the Union Internationale Motonautique and the F1 promoter stipulates a revenue split of TV rights as follows :

Next round of the Formula 1 World Championship run is Dunaujvaros - Hungary on May 20th, 2001