MICHAEL WALTRIP DEFINES DIRECCTION OF TEAMS
 
MOORESVILLE, N.C. (June 10, 2006) -- In light of published reports of Michael
Waltrip Racing (MWR) abandoning their NASCAR Busch Series partnership with
Fitz-Bradshaw Racing, MWR owner Michael Waltrip said the rumors couldn't be
farther from the truth.
 
"I think a lot of people got confused when we took the opportunity to move
our NEXTEL Cup operation down the road to Jimmy Spencer's old shop," said
Waltrip. "We saw an opportunity to give Larry Carter and his team working on
the Burger King Chevrolets, a location that allows them to stay totally
focused on preparing for our upcoming five Cup races with Bill Elliott in
2006. Our Busch Series program, along with our Marketing, Licensing and
Business Affairs departments remain at Fitz-Bradshaw in Mooresville, NC. Last
Fall we partnered with Armando Fitz for the entire 2006 season and that won't
change."
 
While everything is status-quo with Waltrip's 2006 programs, there is eager
anticipation for 2007. In just a few weeks, the first phase of Waltrip Racing
World will open for Toyota's entry into the NASCAR NEXTEL Cup Series. Waltrip
Racing World, scheduled to open to the public mid 2007, is a fan destination
complete with entertainment and interactive experiences. It will also house
all of Michael Waltrip Racing's Toyota backed teams.
 
"Phase One of Waltrip Racing World is essentially our fabrication and
manufacturing facility," Waltrip said. "In some ways it could be viewed as
the heart and soul of our entire campus. Our first Toyota Camry was completed
last week and we will build many more at the new location. This building is
exclusively dedicated to the preparation, testing, development and eventually
racing of our 2007 Camry's.
 
"We have a lot of innovative things going on at Michael Waltrip Racing,"
continued Waltrip. "We are nearing the launch of an ownership plan that dates
back to the summer of 2005 when I first visited Toyota Racing Development in
California. This isn't a start-up effort. We have hired some of the brightest
and most respected members of the NASCAR community and all of our steps
leading to the 2007 Daytona 500 on right on target. We understand and respect
the challenges of succeeding at the NEXTEL Cup Series level. When MWR and our
sponsorship partners accepted this task, we set several benchmarks that we
knew we had to achieve and everything we have announced to date were part of
that. As an organization, I am very pleased with where we are and where we
are headed."
 
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