Melbourne to host Australian F1 Grand Prix through 2006

   Copyright c 1998 Nando Media
   Copyright c 1998 Agence France-Presse

SYDNEY (Jul 8, 1998 - 14:39 EDT) - Melbourne has secured the Australian
Formula One Grand Prix for another another five-year spell until 2006, the
state government said Wednesday.

Tourism Minister Louise Asher said Victoria had been able to retain the
Albert Park race despite strong interest from South Australia which held
the event in Adelaide for 11 years from 1985.

The arrangement to lock in the race until 2006 will come as a setback to
several Asian countries such as China, Indonesia and Malaysia who were
hoping to win a round of the World Championship.

It is understood that the region's economic downturn made Australia look more secure.

The aggregate attendance of 297,000 people for the four-day event at the
start of this season was down on previous years, but the government said
the new contract will generate more than $95 million ($58 million U.S.) and
2, 270 full-time jobs each year.

The Melbourne Grand Prix has been acclaimed the world's best by the Formula
One teams association for the past two years.

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