Red McCombs Revealed as Primary Investor for the Formula 1 United States Grand Prix(TM) Project

AUSTIN, Texas, July 27, 2010 - Tavo Hellmund, Managing Partner of Full Throttle Productions, L.P.,
revealed Red McCombs as the primary investor for the Formula 1 United States
Grand Prix(TM) racing project. McCombs, a business and sports legend, is
committing financial resources, experience and the business relationships of
McCombs Partners to complement Hellmund and his extensive motorsports
background. Hellmund and McCombs Partners have been working on potential
site development as well as event and facility infrastructure. The end
result will present one of the world's most prestigious sporting events and
the first ever purpose-built F1 facility in the United States.

Hellmund, an Austin native, event promoter and former racecar driver, has
had a lifetime affinity for Formula 1 racing and has spent the last three
years working to deliver the return of Formula 1 racing to the U.S. with his
hometown of Austin as the event's backdrop. "This project has been a
tremendous undertaking," stated Hellmund. "But for at least the next decade,
Texas will host a global sporting event on an annual basis in a new
world-class multipurpose facility. Knowing that our hard work is being
rewarded and that my dream is becoming a reality is extremely gratifying. It
is a great honor to have Red McCombs and McCombs Partners as our primary
investor and partner. Red's success in business and the professional sports
arena is legendary. Working together as a team and under Red's direction, we
will ensure that this project will make all Texans very proud and will
benefit our great State."

"Bringing Formula 1 back to the United States represents the opportunity
of a lifetime and one that any city in the world would want," stated McCombs.
"The size and scope of an F1 event is comparable to hosting a Super Bowl and
will bring substantial economic benefit to Austin, San Antonio and the entire
State of Texas. We know Tavo has a clear vision for developing Formula 1 into
a major event with year-round opportunities. Over the past few years, he has
built a solid business foundation and has assembled a great team - one we are
proud to be part of. We are ready to roll-up our sleeves and work alongside
Tavo to make this project a huge success." McCombs, a Texas business and
sports icon, is the former owner of the NFL's Minnesota Vikings and the NBA's
San Antonio Spurs and Denver Nuggets. In addition, McCombs is the co-founder
of Clear Channel Communications and has owned nearly 400 businesses in his
career, including McCombs Automotive Group and McCombs Energy. McCombs
Partners serves as the investment management division of McCombs Enterprises,
the family office of Red McCombs.

In addition to McCombs Partners, Hellmund's team includes Prophet Capital
Management, an Austin based private investment company founded in 1995, and
MotoGP World Champion Kevin Schwantz.

Hellmund also launched the event's official website:
www.formula1UnitedStates.com, a site dedicated to the local, state,
national and global communities interested in the Formula 1 United States
Grand Prix(TM). The site's objective is to provide racing and non-racing fans
alike a view into the global sporting event where "technology meets glamour."
Site content will include information on the event visionary and investment
group, FAQs, the host city of Austin, event news, Formula 1 racing
information and the Formula 1(TM) onboard lap driving experience. Fans will
have the opportunity to register to receive additional information including
updates on event ticket packages. The site will be continually updated with
the latest news and developments for the Formula 1 United States Grand
Prix(TM) project and respective racing industries.

Formula 1 racing is ranked among the top three most prestigious sporting
events in the world along with the Olympics and Soccer's FIFA World Cup.
Formula 1 is considered the most technologically advanced sporting event in
the world. It has a massive worldwide following, attracting more than 520
million viewers in 187 countries - making it the most-watched annual sport in
the world. This project will place Austin and the state of Texas on the
global stage. Its economic impact to the community is estimated to be
approximately US$300 million on an annual basis, according to the Office of
the Texas Comptroller.

Austin, Texas is located at the epicenter of a surrounding population of
nearly 20 million people and provides 130 daily departing international
flights within 180 miles. Austin also offers easy access from each U.S.
coast, as well as from Canada, Europe, Mexico, Central and South America. The
track will be located on a 900-acre site in southeast Austin along the SH 130
corridor near FM 812. The majority of land involved in the project is
formerly known as the Wandering Creek property. The site's natural topography
is expected to provide an excellent canvas for the world class facility.

For more information, visit www.formula1unitedstates.com.

About Full Throttle Productions, L.P.

Full Throttle Productions, L.P. is an Austin, Texas, special event and
sports production company that provides event conception, event project
management, day of event oversight, staffing and volunteer services, venue
planning and logistics support.

About McCombs Partners

McCombs Partners serves as the investment management division of McCombs
Enterprises, the family office of Red McCombs. For more information visit
www.mccombspartners.com.

Trey Salinas, tsalinas at 3pointpartners.com, or Ali Putnam, aputnam at 3pointpartners.com, both at +1-512-328-4055, for Full Throttle Productions, L.P.