Bobby Ginn Purchases Majority Interest in MB2 Motorsports

penguin

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http://www.ginnracing.com/

Ownership Change for NASCAR Team Takes Effect Immediately

CELEBRATION, Fla. (July 26, 2006) -- MB2 Motorsports, which fields NASCAR
Nextel Cup entries for drivers Joe Nemechek and Sterling Marlin, has announced
a change of ownership.

Real estate developer Bobby Ginn (pronounced GHIN) has purchased all of the
shares owned by MB2 majority owner and founding partner Nelson Bowers. The
business transaction takes effect immediately.

Jay Frye, MB2's general manager and chief executive officer since the formation
of the racing organization in 1996, will continue in the same capacity and
retain his ownership in the company.

Ginn's majority interest and Frye's interest comprise 100 percent ownership of
MB2 Motorsports.

Ginn is president and founder of the Celebration, Fla-based Ginn Resorts, a
privately held resort development and management firm, specializing in exclusive
leisure lifestyle and vacation destination communities in the United States.

Ginn Sports Entertainment, a division of Ginn Resorts, is responsible for
producing sporting-related events along with managing and sponsoring several
LPGA and Champions Tour golf events in Florida and South Carolina.

"We recognize the importance and relevance of NASCAR fans and sponsors to
the overall success of our brand," said Ginn, a native of Hampton, S.C. "MB2 has
outstanding partners in the U.S. Army, Waste Management, CENTRIX Financial,
Wiley X Eyewear, Ginn Resorts and Mighty Auto Parts. The goal as the new
owner is simple -- to work as hard as we can to build on the successes of the
team and make a commitment to providing our race teams with the resources
necessary to get them into Victory Lane.”

Also announced today is that Ginn Resorts, which has been a MB2 primary
sponsor at selected Cup events in 2006, has added 10 races to its primary-
sponsorship package on Marlin's No. 14 Chevrolet. The sponsorship will be
managed through Ginn Sports Entertainment.

Regarding the sale of his shares in MB2, Bowers said, "I have thoroughly
enjoyed all facets of being a NASCAR team owner for the past 10 years. It's
been a memorable and fascinating ride and I wish Bobby, Jay and the entire
MB2 organization nothing but success."

"Nelson was one of the catalysts in the formation of MB2 and we are all grateful
for what he has provided in his ownership role during the past 10 years," said
Frye. "He is a great friend and will always be part of the MB2 legacy.”

“However, we are entering an exciting new era and I look forward to working
closely with Bobby in creating a new level of competition for MB2 Motorsports,”
Frye added. “Along with being innovative and resourceful, Bobby is deeply
committed to do what it takes to grow MB2.”

Along with its Nextel Cup teams, MB2 has a driver development program in place
with Kraig Kinser in the NASCAR Craftsman Truck Series and Jesus Hernandez
in the Drive for Diversity program.

The MB2 team shop is based in Mooresville, N.C.
 

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