FORMULA BMW AMERICAS CONFIRMS FOUR 2008 DRIVERS; MID-OHIO SPORTS CAR COURSE TO HOST ROUNDS 5 AND 6

Woodcliff Lake, NJ. - February 29, 2008... Formula BMW Americas confirmed
today the four young men who will receive BMW Junior scholarships for the 2008
season. They are Ricardo Favoretto, 19, of Sao Paulo, Brazil; Mikael Grenier,
15, of Quebec, Canada; Alexandre Ruiz, 16, of Sao Paulo, Brazil and Gianmarco
Raimondo, 17, of St. Catherine, Ontario, Canada.

Favoretto, a 2007 Junior, finished second in the 2007 Formula BMW USA Rookie
championship. Grenier, Ruiz and Raimondo won their scholarships at the
scholarship shoot-outs held last year at the Formula BMW Racing Center at the
Circuit de la Comunitat Valenciana Ricardo Tormo, in Valencia, Spain. Raimondo
was awarded the scholarship when Juan Arenas chose not to participate.

Each 2008 Formula BMW Americas Junior will receive $80,000 towards
participation in the championship and automatic complimentary enrollment in the
Education and Coaching program.

The BMW Junior program has a proud tradition dating back to the mid-1970s.
Since Formula BMW's beginnings in North America in 2004 the program has
graduated quite a number of notable young drivers. They include Graham Rahal,
Tom Milner, James Hinchcliffe, Jonathan Summerton, Richard Philippe, Kevin
LaCroix, David Garza, Robert Wickens, and Daniel Morad.

Young drivers interested in joining this elite group can mark the dates of July
28-29 and August 4-5 for the Licensing Courses for the 2009 Formula BMW
Americas championship.

Finalizing the 14-race schedule, Rounds 5 and 6 will be held at Mid-Ohio Sports
Car Course on June 20 - 22 in conjunction with the Rolex Sports Car Series'
EMCO Gears Classic presented by Key Bank. Formula BMW visited Mid-Ohio in both
the 2005 and 2006 seasons.
With the recent announcement of the merger between Champ Car and IRL, BMW
driver Alex Zanardi (ITA), welcomes the decision and sees a positive future of
open wheel racing in the United States:

"Open Wheel Racing has a great history in the US. For me, it is fantastic to
see that both series have done the right step to unify. The whole open wheel
racing scene is strengthened, and the meaning of Formula BMW Americas is
further increased. I am sure we will see a bright future of single-seater
racing in both Americas."

Before the 2008 Formula BMW Americas season gets the green lights at Mazda
Laguna Seca Raceway on May 16 - 17, three official testing sessions will be
held at Virginia International Raceway on April 5 - 6, Miller Motorsports Park
on April 25 - 27 and Thunderhill Raceway Park on May 8 - 9.

Formula BMW Americas reflects the growth of Formula BMW worldwide. Formula BMW
Germany and Formula BMW UK have combined championships to form Formula BMW
Europe. Formula BMW Europe, Formula BMW Americas and Formula BMW Pacific will
now comprise the new global face of Formula BMW.

Calendar for Formula BMW Americas:

Date Event Venue
17th May Festival of Speed Laguna Seca Raceway
8th June GP Canada Montreal
21st June EMCO Gears Classic Mid-Ohio
12th July Northeast Grand Prix Lime Rock Park
10th August Road America Grand Prix Road America
28th September ARCA Thunderbolt Raceway
2nd November GP Brazil Interlagos

Press Contact: Press Officer Bill Cobb, Tel. +1215.295.3115, E-Mail:
bill.cobb@partner.formulabmw.com Copyright free Formula BMW images for press
purposes are now available. Please register on www.formulabmw-images.com.