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Shell Makes Switch to Penske Racing in 2011

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Shell Oil Company and Penske
Corporation have announced a multi-year cross business alliance starting in
the 2011 racing season. The new alliance allows Shell and Pennzoil to
expand their motorsports presence as it includes a primary sponsorship
with 2004 NASCAR Sprint Cup Series champion, Kurt Busch and the No. 22 car,
as well as associate sponsorships promoting Shell V-Power with IZOD
IndyCar Series drivers Helio Castroneves, Will Power and Ryan Briscoe.

The global business alliance provides an opportunity for Shell and Pennzoil to expand their presence not only within motorsports,
but also as a preferred supplier of fuels, lubricants and related
products to the Penske organization. Beginning in 2011, Shell and
Pennzoil will be the “Official Fuel and Motor Oil Supplier” to the
Penske organization in the U.S. and the organizations will look to
extend their alliance with business development opportunities in
several other countries.

The Penske organization is one of the world’s most successful and
recognized automotive-based business enterprises and provides unique
activation opportunities. Additionally, this alliance continues to
enable further product development for Shell and Pennzoil both on and
off the track through the invaluable knowledge gained surrounding
fuels, lubricants and engine technologies. Like Shell and Pennzoil, Penske Corporation has a close relationship with Chrysler and Ferrari, both part of the Fiat Group.

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Winning is a tradition for Penske, an organization that has earned more
than 315 major race victories including 15 Indianapolis 500 wins and
the 2008 Daytona 500, 370 pole positions and 22 national championships.

As part of the alliance, Pennzoil will become the “Official Motor Oil”
of Penske Racing in 2011 which includes all of its entries in the
NASCAR Sprint Cup and Nationwide Series as well as the IZOD IndyCar
Series. For Pennzoil, returning to Penske is a homecoming of sorts as
Pennzoil first aligned with Penske as part of its IndyCar teams in 1983
and won the 1984 and 1988 Indianapolis 500 Mile Races with driver Rick
Mears. In addition, Kurt Busch won his 2004 NASCAR Sprint Cup Series
championship driving a Pennzoil-supported car for another team.

Shell has a strong motorsports history aligning with race teams since
the 1920’s. In addition to the alliance with Penske Racing, Shell
currently has several motorsport technical co-operation programs in
place, including Ferrari in Formula 1, Ducati in MotoGP and with
Richard Childress Racing and Hendrick Motorsports in NASCAR.

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