V8 Supercars Australia in new ITM400 deal

Australian and international motorsport leader, V8 Supercars Australia, is to run
Hamilton’s ITM400 from next year.

The deal, announced today, sees V8SC take over from current promoter Caleta
Streetrace Management (CSM). CSM has stepped aside from their role as promoter as
they are no longer in a financial position to run and grow the event.

V8 Supercars Australia already runs eight of the 15 rounds of the highly successful V8
Supercars Championship including in Sydney, Gold Coast, and Townsville. Hamilton
becomes the 9th city in this impressive line up.

The deal is a further coup for Hamilton, entering a partnership with an event organiser
of such calibre, and guaranteeing the only New Zealand leg of the series in the city for
at least a further four years with a new three-year extension.

Council will continue to sponsor the event and will share in its financial success but with
no exposure to trading losses. V8SC have a proven track record of promoting successful
and profitable streetrace events.

A number of new features to broaden the appeal of the event from 2011 include the
unique “rock and race” format which will see concerts held in Seddon Park and
Waikato Stadium. Other new initiatives include exploring moving the event from April
to early November from 2012, and substantially increasing the spend promoting the
ITM400 in New Zealand and Australia.

Hamilton has successfully hosted the V8s for three years after winning hosting rights in
2006.

It is the largest single sporting event in New Zealand, and despite the recent economic
downturn, still attracted just over 100,000 people through the gates over three days
last month.

Hamilton mayor Bob Simcock welcomed the new partnership.

“The city has already shown it is capable of staging the V8s, which is no mean feat, and
having V8 Supercars now running the event means it is well positioned to go from
strength to strength. “

V8 Supercars Australia COO Shane Howard will lead the events team and will use
Hamilton-based staff and local contractors.

“It is with great pride that we bring our expertise to the table to work in partnership
with Hamilton City Council. We are putting together the best possible team to
reinvigorate the event and continue Hamilton’s proud tradition of hosting the event.”

Former ITM400 promoters Dean Calvert and Steve Vuleta gave their support to the
new management structure to ensure the continued success of what they said was an
iconic Hamilton event.

“We thank past supporters and encourage all suppliers, sponsors and attendees to get
in behind the new management team.”

Mr Calvert and Mr Vuleta are assisting with the transition of intellectual property and
knowledge to V8SC and completing the 2010 circuit dismantling before formally
concluding their association with the event.

V8SC is moving quickly to secure key local staff, suppliers and contractors, and planning
is already well underway next year’s ITM400 around a street circuit in Frankton.

Mayor Simcock acknowledged and thanked CSM for the work done to establish the
event in Hamilton over the last three years.