INDIANAPOLIS (July 27, 2007) --- Robert Yates Racing (RYR) and Newman/Haas/Lanigan Racing (NHLR) have entered into a letter of intent for a partnership in NASCAR’s Nextel Cup and Busch Series. The team will be named Yates/Newman/Haas/Lanigan Racing effective immediately.

“This is a wonderful partnership,” said Robert Yates, founder of Robert Yates Racing. “This gives us a clear vision how to get to the top. It is our goal to continue to build so this team will be better positioned to contend for the championship.”

“I am very proud of our accomplishments in the Champ Car World Series and hope we can have the same success in NASCAR,” added Carl A. Haas, who has been a team owner in NASCAR’s Cup series on two previous occasions. “We have been looking to add other forms of racing to our Champ Car program and when the opportunity came along to work with Robert Yates Racing, a team that shares the same drive for success that we do, it was too good of an opportunity to pass up. I think that the NASCAR and Champ Car programs can learn something from each other and only enhance the championship level that Robert Yates Racing and Newman/Haas/Lanigan Racing have competed at in previous years.”

“We have always been an engineering driven team,” said Paul Newman, a partner in Newman/Haas/Lanigan Racing. “We think we have something special to add to the benefit of both. This in no way lessens our commitment to open wheel racing -- we want to broaden our horizons.”

“The opportunity of joining Robert and Doug Yates is an opportunity of a lifetime,” added Michael Lanigan, a new partner in Newman/Haas/Lanigan Racing. “The Yates family has been competing against the best and winning for many years. We look forward to a long and productive association.”

Since Robert Yates Racing was formed in 1988, the now two-car team has posted 57 victories and 48 poles in addition to winning the 1999 NASCAR championship with Dale Jarrett. Current Nextel Cup drivers Ricky Rudd and David Gilliland pilot the No. 88 and No. 38 Ford Fusion’s, respectively. The agreement also includes RYR’s Busch program with Stephen Leicht, driver of the No. 90 Ford Fusion. Drivers such as Davey Allison, Ernie Irvan, Dale Jarrett, Ricky Rudd, Kenny Irwin, Elliott Sadler and David Gilliland have driven for RYR.

RYR and NHR/NHLR have had close ties with Ford Motor Company for many years. RYR has been powered by Ford all 20 seasons. Of NHR/NHLR’s 101 wins and 103 poles, 55 of each have been earned with Ford power. In addition, four of their seven titles were powered by Ford (1993 – Nigel Mansell; 2004-2006 – Sebastien Bourdais).

“NASCAR Nextel Cup racing is rapidly moving, technology-wise, to engineering areas that Newman/Haas/Lanigan has years of experience with already,” said Dan Davis, director of Ford Racing Technology. “And Robert Yates Racing brings years of engine development and race craft in the sport that is invaluable to this operation. Put that expertise together, along with joint ownership that is clearly committed to winning, and we have a Ford program that will be a contender for years to come."

About Robert Yates Racing …
Robert Yates Racing was formed in 1988 by Robert Yates and the team is in their 20th season. In the premier series, they have won 57 races, 48 poles and one championship with Dale Jarrett (1999). Drivers such as Davey Allison, Ernie Irvan, Dale Jarrett, Ricky Rudd, Kenny Irwin, Elliott Sadler and David Gilliland have competed for the team. The team added a Busch Series program in 2002 and recently earned their first win with driver Stephen Leicht in June 2007. For more information log on to www.RYR.com.

About Newman/Haas/Lanigan Racing…
Newman/Haas/Lanigan Racing LLC (NHLR), owned by actor/race car driver Paul Newman, racing entrepreneur Carl A. Haas and businessman Michael Lanigan is the most successful team competing in the Champ Car World Series and one of the most successful overall competing today. The Lincolnshire, Ill.-based team began their 25th season of Champ Car competition in 2007 and has earned seven championships, 101 wins and 103 pole positions to date. Sebastien Bourdais and Graham Rahal were preceded at the team by Mario and Michael Andretti, Nigel Mansell, Paul Tracy, Christian Fittipaldi, Cristiano da Matta, Bruno Junqueira and Oriol Servia. For more information log onto www.newmanhaaslanigan.com.

QUOTES FROM KEY INDIVIDUALS

Robert Yates, founder of Robert Yates Racing…“This is a wonderful partnership. This gives us a clear vision how to get to the top. It is our goal to continue to build so this team will be better positioned to contend for the championship.”

Doug Yates, president of Roush-Yates Racing Engines…“What they do well complements us and what we do well complements them. This new venture is exciting to me in a lot ways. Incorporating their engineering program will prepare us for future competition. We look forward to sharing much success and getting our teams among the NASCAR elite.”

Carl A. Haas, co-founder of Newman/Haas Racing and co-owner of Newman/Haas/Lanigan Racing…
“I am very proud of the hard work that went into our accomplishments in the Champ Car World Series and hope we can have the same success in NASCAR. We have been looking to add other forms of racing to our Champ Car program and when the opportunity came along to work with Robert Yates Racing, a team that shares the same drive for success that we do, it was too good of an opportunity to pass up. I think that the NASCAR and Champ Car programs can learn something from each other and only enhance the championship level that Robert Yates Racing and Newman/Haas/Lanigan Racing have competed at in previous years.”

Paul Newman, co-founder of Newman/Haas Racing and co-owner of Newman/Haas/Lanigan Racing…
“We have always been an engineering driven team. We think we have something special to add to the benefit of both. This in no way lessens our commitment to open wheel racing - - - we want to broaden our horizons.”

Michael Lanigan, co-owner of Newman/Haas/Lanigan Racing and Carl A. Haas Motorsports…“The opportunity of joining Robert and Doug Yates is an opportunity of a lifetime. The Yates family has been competing against the best and winning for many years. We look forward to a long and productive association.”

Dan Davis, director, Ford Racing Technology…“I'm very excited at the prospect of putting these two Ford championship-winning teams together. We have had an outstanding relationship with both teams over the years, and we believe their individual strengths compliment each other extremely well. NASCAR Nextel Cup racing is rapidly moving, technology-wise, to engineering areas that Newman/Haas/Lanigan has years of experience with already. And Robert Yates Racing brings years of engine development and race craft in the sport that is invaluable to this operation. Put that expertise together, along with joint ownership that is clearly committed to winning, and we have a Ford program that will be a contender for years to come.”

Edsel B. Ford II, board member, Ford Motor Company…“We're excited about this new partnership between two teams that have already won championships for Ford in motor racing. We've had a long, successful relationship with both of these organizations. Now, going forward, they each will be able to take their specific expertise and help us create a stronger overall Ford program in NASCAR.”

Ricky Rudd, driver of the No. 88 Ford Fusion…“I am so excited for Robert and Doug – Newman/Haas/Lanigan Racing is at the top of their game in the Champ Car World Series. Their history certainly complements the history of Robert Yates Racing.”

David Gilliland, driver of the No. 33 Ford Fusion…“Joining forces with Robert Yates Racing was a dream come true for me. Adding the resources of an organization like Newman/Haas/Lanigan to the mix only makes things better. I look forward to a long and successful career with the Yates/Newman/Haas/Lanigan team.”

Stephen Leicht, driver of the No. 90 Ford Fusion Busch car…“I am just proud to be a part of the Yates Family. And look forward to watching our organization continue to grow.”

Kyle Krisiloff, driver of the No. 14 Lilly/Walgreens Ford Fusion…“I am really honored to be part of this new organization and proud of Carl, Paul and Mike for taking this step to make sure our team has all the tools necessary to win races and contend for championships. It’s really exciting to be a part of Robert Yates Racing because they have always been a leading team in NASCAR and for Ford Racing. I know this new partnership will benefit Lilly and Walgreens as we continue to grow the program.”

Sebastien Bourdais, three-time reigning Champ Car champion and driver of the No. 1 McDonald’s Champ Car for NHLR…“It’s obviously a great opportunity for Newman/Haas/Lanigan Racing to be able to expand and to show our engineering capabilities. NASCAR is a very competitive series and this will be a new challenge for the team.”