SOURCE: Automotive X PRIZE

March 18, 2008 08:00 ET

Automotive X PRIZE to Announce Title Sponsor and Multimillion Dollar Prize Purse at 2008 New York International Auto Show

Satellite Newsfeeds -- Thursday, March 20, 2008, 4:00 p.m. - 4:15 p.m. EDT & 5:00 p.m. - 5:15 p.m.

SANTA MONICA, CA--(Marketwire - March 18, 2008) -


WHAT/WHY:      The Automotive X PRIZE, an international, multimillion
               dollar competition designed to inspire a new generation of
               viable, super-efficient vehicles, will announce its much
               anticipated title sponsor and multimillion dollar prize
               purse at the New York International Auto Show (NYIAS). This
               announcement signals the official beginning of the
               Automotive X PRIZE competition.

WHEN/WHERE:    Thursday, March 20, 1 p.m. EDT
               The New York International Auto Show;
               Crystal Plaza at Jacob Javits Center

VISUALS:       A select number of teams with their vehicles and
               representatives for the to-be-announced title sponsor will
               join the Automotive X PRIZE in the booth for photos and
               interviews.

THE GOAL:      The independent and technology-neutral Automotive X PRIZE
               competition is open to teams from around the world that can
               design, build and bring to market 100 MPG or equivalent
               (MPGe) vehicles that people want to buy and that meet market
               needs for price, size, capability, safety and performance.

RACE
PARTICIPANTS:  To date, more than 60 teams from nine countries have signed
               a Letter of Intent to compete for a share of the
               multimillion dollar prize purse and global publicity.

OTHER SHOW
ANNOUNCEMENTS: In addition to the major announcements of the Automotive
               X PRIZE title sponsor and multimillion dollar prize purse,
               X PRIZE officials will unveil new details on the entry
               process, rigorous cross-country stage races planned for
               2009 and 2010, and the process for becoming an Automotive
               X PRIZE Host City.

TO RECEIVE B-ROLL
BY SATELLITE:         Ku-BAND
                      Start/End Times:  1600 to 1615 & 17:00 to 1715
                      Coordinates:      Horizons 2
                                        Transponder 2, Analog
                      Downlink Freq:    11760H
                      Trouble Contact:  973-632-9833

FOR PRESS WHO
CANNOT ATTEND: The Automotive X PRIZE will host an hour-long call for media
               to speak with X PRIZE Foundation CEO and Chairman Dr. Peter
               Diamandis and a title sponsor representative, scheduled for
               3:30 p.m. EDT on March 20. Call 646-428-0612 to RSVP.

ABOUT THE AUTOMOTIVE X PRIZE:

The Automotive X PRIZE is a project of the X PRIZE Foundation, which creates and manages prizes that drive innovators to solve the world's greatest challenges. The X PRIZE Foundation first captured world headlines in 2004, when Mojave Aerospace Ventures, led by legendary aircraft designer Burt Rutan and Microsoft Co-founder Paul Allen, built and flew the world's first private vehicle to space twice in two weeks to win the $10 million Ansari X PRIZE. The Automotive X PRIZE is being designed with the generous help of world-class experts, advisors and organizations who represent a broad and diverse group of interests and share the organization's concerns and goals. For more detail, see our advisors, supporters, and blog at http://auto.xprize.org.

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