Penske Jet, Inc. to acquire Bombardier Challenger 800 corporate jet for Penske Race team shuttle

Second Bombardier corporate shuttle sold to motor sport operator in past few months

Penske Jet, Inc., a subsidiary of Penske Corporation, will acquire a Bombardier Challenger* 800 corporate shuttle for use by Penske’s subsidiaries, Penske Racing Inc., the most successful Indy car racing team in history, and Penske Racing South, Inc., whose cars have won over 50 NASCAR (National Association for Stock Car Auto Racing) Winston Cup Series races.

The Bombardier Challenger 800, a corporate version of Bombardier’s pioneering CRJ* regional airliner, is scheduled to enter service in January 2004. It will be used by the Penske teams to shuttle their personnel competing in the Indy Racing League (IRL) and NASCAR Nextel Cup Series motor races.

“Leaders in the automotive industry are increasingly recognizing the benefits of our aircraft for their operational requirements,” said Peter Edwards, president, Bombardier Business Aircraft. “This sale comes only a few months after we sold a Bombardier corporate shuttle to Indianapolis Motor Speedway (IMS) Corporation, and underscores the significant inroads Bombardier products are making in the North American motor racing industry.”

“We are satisfied with the performance of our Bombardier aircraft and believe the Bombardier Challenger 800 will be a cost-effective and comfortable shuttle for our NASCAR and Indy car operations,” said Roger S. Penske, founder and chairman of Penske Corporation.

The Bombardier Challenger 800 to be used by Penske will have a 42-seat configuration consisting of 11 rows of four-abreast seating at a 37-inch seat pitch for enhanced passenger comfort and productivity. It is equipped to meet Part 121 requirements so that it can be easily re-converted to a CRJ to maintain its residual value. It also features a 53,000 lb. (24,040 kg) Maximum Takeoff Weight (MTOW) long range option to increase its non-stop capabilities.

Penske Jet, Inc. and both Penske racing teams are subsidiaries of Penske Corporation, a closely-held diversified transportation services company. A long-time Bombardier customer, Penske Jet, Inc. and affiliates currently operate three Bombardier Learjet* 60 midsize business jets.

The Bombardier Challenger family of business jets has earned a reputation for outstanding reliability, dependability and value over more than two decades. In addition to the Bombardier Challenger 800, current production models include the Bombardier Challenger 300 super-midsize jet, scheduled to enter service this year, and the legendary Bombardier Challenger 604, the best-selling aircraft in its class.

The large-cabin, mid-range Bombardier Challenger 800 offers the flexibility of either a corporate shuttle configuration for up to 50 passengers or an executive interior for up to 19 passengers, as well as range flexibility of up to 3,000 nm (5,556 km).

The Challenger 800 Corporate Shuttle benefits from the rich lineage of the popular 50-passenger Bombardier CRJ100* and CRJ200* airliners, of which more than 900 aircraft are now in daily airline service worldwide. It provides a 2,045 nautical mile (3,787 km) non-stop range and a brisk high-speed cruise of Mach 0.80. It also features the largest cabin in its class, offering a total usable cabin volume of 2,105 cubic feet (59.61 m3). The 48.42-foot-long cabin (14.76 m) is highlighted by Bombardier’s signature Challenger widebody comfort (8 feet, 2 inches; 2.49 m).

Penske Racing, Inc. is the most successful Indy car racing team in history with 118 race wins, highlighted by a record 13 Indianapolis 500 mile race victories, 11 National Championships, and 143 pole positions.

Penske Racing South, Inc. campaigns the Miller Lite Dodge driven by NASCAR Winston Cup Champion Rusty Wallace. Wallace has 54 career victories and 36 pole positions. Penske Racing South also fields the Alltel Dodge driven by 2002 NASCAR Winston Cup Rookie of the Year Ryan Newman. Since joining the team in 2001, Newman has posted eight Winston Cup wins and 14 pole positions.

Bombardier Aerospace, a unit of Bombardier Inc., is a world leader in the design and manufacture of innovative aviation products and provides services for the regional, business and amphibious aircraft markets. It also offers Bombardier Flexjet and Bombardier Skyjet business aircraft programs, technical services, and aircraft maintenance and pilot training for business, regional airline and military customers.

Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).

* Trademarks of Bombardier Inc. or its subsidiaries.

Leo Knaapen
Bombardier Aerospace
Cell : (514) 918-9352