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Target Chip Ganassi Racing Signs Alex Lloyd As Development Driver

INDIANAPOLIS, Ind. (October 17, 2007) ? Chip Ganassi Racing announced today the addition of
young driving standout and 2007 Indy Pro Series Champion, Alex Lloyd to the team?s Driver
Development Program. Lloyd, a native of Manchester, England joins the team after a record setting Indy
Pro Series season that saw him dominate the field with eight wins and five poles positions.

The team is in the developing process of the complete 2008 plan for Lloyd but it most likely it will
include some combination of IndyCar Series races, Grand Am races and a great deal of testing
In August 2007, with permission from his Indy Pro Series team, Sam Schmidt Motorsport, the Target
IndyCar team invited Lloyd to participate in a team test at Sebring International Raceway with IndyCar
driver Scott Dixon. Lloyd was given the opportunity to get behind the wheel of an IndyCar for the first
time and was able to set lap times that were comparable to Dixon?s.

The team was so impressed by the 22 year-old driver?s abilities that when the opportunity arose for a
driver to join the Rolex Grand Am Sportscar race at Infineon Raceway in August, it was Lloyd that was
called upon once more.

?Alex has not only proved himself this season in the Indy Pro Series races but we were also able to
evaluate him first hand at our test in Sebring and subsequently liked him even more,? said Target Chip
Ganassi Racing Managing Director Mike Hull. ?He is a talented driver and a perfect candidate for our
development program. In the span of ten days, he took the wheel of two very different race cars for the
first time. He showed at Sebring that he is ready to race an Indycar, and then at Infineon Raceway for
the Grand Am event, proved under race conditions, that his skills were immediately equal to the best
drivers in the very competitive high horsepower Daytona Protoypes.?

I am thrilled to be racing for Target Chip Ganassi Racing and would like to thank Chip and his team for
giving me this opportunity,? said Lloyd. ?I have always regarded the team as one of the best in all of
motorsport and for me to now be a part of that is very exciting and a dream come true. I am looking
forward very much to working with Scott Dixon and Dan Wheldon. These are two of the top guys in the
series and I know I can learn a lot from them.?

Lloyd had a successful stint in the UK Formula Renault Championship in 2003 where he finished runnerup
to Lewis Hamilton, tested with the F1McLaren team, and earned three poles and a win in just seven
Formula 3000 race in 2005.

The young Brit joined AFS Racing in 2006 for his first Indy Pro Series race on the streets of St
Petersburg?s where he qualified on the front row and earned a podium finish. While an ear infection
took Lloyd out of two races in the middle of the year, that didn’t stop the young driver from posting his
and AFS Racing?s first win at the F1 support race on the Indianapolis road course, and then another win
on the Infineon road course in Sonoma, California.

In 2007, Lloyd joined front-running Sam Schmidt Motorsports, and promptly dominated the
championship from the start with a record five consecutive wins. He would finish the season with a
record eight wins, two second place and one third place finish and also led the Indy Pro Series with 399
laps led, 751 laps completed, 13 top-five finishes and 13 top-10 finishes (tie). The talented Brit also
earned five pole positions, the most of any driver in 2007, and started on the front row for every Indy
Pro race where qualifying was held.

“Everyone at Sam Schmidt Motorsports is extremely proud of what we were able to accomplish with Alex
in 2007,? said Sam Schmidt, team owner of Sam Schmidt Motorsports. ?We recognized his tremendous
ability and potential in 2006 when he drove a partial season, and I’m glad that we were able
to maximize those talents last year. Of course the Championship and multiple records are great, but we
are ultimately in this business to graduate drivers to the next level. Alex is the total package and we
have no doubt that he’ll be very successful driving for TCGR. He has legitimately earned the shot and I
applaud Chip and Mike for supporting the system.”

Lloyd, his wife Samantha and newborn baby girl Ava reside in Indianapolis.

About Chip Ganassi Racing
With 13 wins to date in 2007, including the company?s best stretch in history with six victories in 30 days, CGRFS continues to add to its tally of 89 trips to victory lane. Chip Ganassi created his own one-car IndyCar team in 1990 and established a partnership with a new sponsor, Target. Today, his teams include two IRL IndyCars, one Indy Pro Series car and along with Felix Sabates he has three cars in the NASCAR NEXTEL Cup Series, two entries in the NASCAR Busch Series and two Daytona Prototypes in the world of Grand American Rolex Sports Car Series racing. Ganassi?s IndyCar teams have amassed five Championships and 56 wins since 1994; his NASCAR teams have 12 wins and a Rookie-of-the-Year title; and the Grand American team has won two of the last three Rolex Series Daytona Prototype Championships and are the two-time defending Champions of the Rolex 24 At Daytona. Chip Ganassi Racing operates out of state-of-the-art race shop facilities in Indianapolis, Ind., and Concord, N.C., with a corporate office in Pittsburgh, Pa.

For more information log onto http://www.chipganassiracing.com/

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