HONDA TO DISCONTINUE ROLE AS ENGINE SUPPLIER FOR CART AFTER 2002 SEASON

Honda Performance Development announced today that it will no longer participate in the CART racing series after the 2002 season. The adoption of a new, normally aspirated 3.5-liter engine formula for 2003 by CART forces Honda to discontinue its participation in the open wheel series after the 2002 season. "This decision is a great disappointment to Honda as we have informed CART from the beginning of the process that it is impossible to supply a new engine conforming to their proposed specifications prior to the 2004 season," said Tom Elliott, President, Honda Performance Development.

