In a press conference on Friday,
Valvoline announced a marketing partnership with Don Schumacher Racing which
will put the company's logo on all DSR entries. Valvoline has also renewed the
sponsorship of David Powers Motorsports Top Fuel team and driver Rod Fuller. Ron
Krisher's program will likewise be intact for next season.

Valvoline's sportsman programs will remain intact with Bob
Newberry, Jay and Shelly Payne, Sherman Adcock, Jr., Dan Fletcher, Tony Fuller,
David Tatum, Jimmy Ayers and Bernie Cunningham.

Shirley Muldowney, a three-time
NHRA Top Fuel champion and drag racing icon, has certainly earned the right to
speak her mind on the state of drag racing. She admits she's done her best to be
supportive of the sport and those who make the decisions, but the NHRA's latest
program which basically cuts the championship battle down to two races at the
end of the season has her up on the tire.

Live Nation had the rights to first
refusal of Bill Bader's 25% ownership in the company. All that Knoll needed to
complete that purchase was the blessing of Live Nation and it came today.

"I want to do business with IHRA and Live Nation. After what has
happened this week, there is no doubt the IHRA has the potential to be the
hottest property in drag racing. I'm certainly going to do my part to ensure
that comes to pass.”

With the talk of NHRA Pro Football
player Duce Staley soon to field an NHRA Pro Stocker, yet another team has
unvieled their NHRA connection. Morgan Lucas Racing will unveil a tribute to the
construction and the 2008 grand opening of the Lucas Oil Stadium in the form of
a special Mac Tools U.S. Nationals paint scheme.

 The NHRA has followed the lead of
NASCAR with a new multi-tiered “Countdown to the Championship” in all four
professional categories of the NHRA POWERade Drag Racing Series which mimics
NASCAR’s Nextel Cup Chase.

NHRA announced its new 23-race NHRA
POWERade Drag Racing Series schedule for 2007 Aug. 30.  During the announcement,
the world’s largest motorsports sanctioning body announced the addition of
Norwalk Raceway Park, which sits between Cleveland and Toledo, Ohio, to the 2007
NHRA POWERade Drag Racing Series schedule.

Also announced was the addition of a 16th event for the Pro Stock
Motorcycle category, to take place at Texas Motorplex near Dallas.