July 18, 2005

Michelin announces details of Formula 1 ticket refunds

Indianapolis, Indiana – Michelin North America Inc. and the Indianapolis Motor Speedway have announced the details of the ticket refund process for ticket holders to the 2005 Formula 1 United States Grand Prix. All tickets purchased for race day, June 19, 2005, are eligible for the refund, which Michelin announced after its drivers did not participate in the race due to concerns over the safety of their tires.

For the majority of ticket purchasers, no action will be required; Grand Prix Account Holders will have information mailed to them directly. Other individual race day ticket holders can submit their ticket stubs, along with a ticket claim form, to the Speedway beginning August 8 until August 29.

Details are available at www.indianapolismotorspeedway.com, or by calling 1-877-950-8747 or 317-492-6700. Michelin expects refunds to be issued and mailed between September 19 and 26. If the United States Grand Prix at Indianapolis is included on the 2006 Formula 1 schedule, Michelin will also purchase 20,000 tickets to the event and make them available to fans that purchased tickets for the 2005 race. Details for these tickets are being finalized and will be announced after the Formula 1 calendar has been released.

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