MANILA, May 5, 2004 - The Denso-Hanjin-JF3 Team confirmed a substantial partnership agreement with Thailand's No. 1 Petroleum Company PTT, represented in the Philippines by Subic Bay Distribution Inc.

The Deal was facilitated in mid-April by Team Denso-Hanjin-JF3's Marketing consultants McMatthise Co., Ltd. (a consulting firm with offices in Manila and Hong Kong). McMatthise, SBDI (PTT Thailand) and JF3 Racing Team have been in serious talks in the past couple of weeks and that a deal looked certain. The JF3 Team will feature 'PTT' branding beginning at the Subic F3 Championship, the precise extent of which is to be discussed further between JF3 and SBDI, but is thought to include substantial spots in the car.

"It is a good boost for the team to welcome SBDI (PTT Thailand) on-board during the start of the season," commented Team Principal and lead Driver Richard Joson. "JF3 is a team with a strong international profile, as reflected in its international line up of off-shore Sponsors namely Denso and Sagawa Express of Japan, Hanjin of Korea, and now PTT of Thailand in addition to its local sponsors MOF Shipping, Allen Isidro Autobody,, Compass Internet. This marks a significant step for us to welcome a major Thailand company such as PTT/SBDI as our Partner."

"We have had an extremely successful 2003 on the racing and commercial front. This new Partnership marks the 8th new commercial agreement we have signed for 2004," he added. "Our testing pace has been promising, and we look forward to successful seasons ahead."

Among those present in the contract signing today are: from left to right, standing McMatthise Managing Directors Cesar Villanueva Jr. and Andrew Boado,Denso-Hanjin-JF3's Richard Joson and Khun Siripong Phoungpaka (SBDI/PTT Phils. President), SBDI/PTT Phils Business Affairs and Administrative Officer Maita Acosta, and A-Quality Advertising Account Manager Che Arellano.