Honda / Michelin Series "Terminated"

Date: January 24 2006

To: All Honda/Michelin Challenge Series Competitors, Entrants, Sponsors

From: HONDA/MICHELIN CHALLENGE SERIES Office

Subject: Termination of Series

This is to confirm any rumours you may have heard that the Series has been terminated by
Honda Canada Inc.

Upon reviewing financial requirements for the Series and looking at the return on the investment, Honda has made the decision to no longer support the program. Concern was also expressed about the small field of cars in the first two seasons and the feeling that this would continue with the increased cost of preparing the new model cars for competition.

I want to thank all of you for your support and participation and congratulate you on what I feel
was a very valuable contribution to motorsport in Canada. You provided an extremely
entertaining and crowd-pleasing presentation at every event you raced. The competition was
close and was a delight to watch as you displayed tremendous driving ability at each and every
event. I know the crowds are going to miss you.

To our sponsors, and to the sponsors that partnered with the teams, our sincere thanks for being a key part of the program as your contribution was important and very much appreciated.
Thank you, again, for your support.

Ralph Luciw
Series Director
Honda/Michelin Challenge Series