Michelin statement on 2008 regulations

THE FORMULA 1 REGULATIONS APPLICABLE IN 2008 SHOULD ALLOW FOR COMPETITION BETWEEN SEVERAL TIREMAKERS

As they stand, the proposed Formula 1 regulations which have been submitted by the FIA at the FIA's World Council deny teams any kind of choice of tire supplier from 2008.

From our point of view, this proposal from the FIA:

Is in contradiction with the spirit of racing and the very essence of the values of competition

Is contrary to the spectators' and TV audiences' interests

Is not the only way of reducing costs

Does not guarantee fair treatment of all teams

We have proposed cost-reducing solutions and are open to any and all related discussions.

Accordingly, if the FIA policy is not changed within the next few weeks and should the control tyre principle be passed by the FIA World Council, Michelin would be forced to question its involvement in Formula 1 in 2008.

Michelin could even reconsider its participation in 2007 given that, out of respect for its partners and under current F1 rules, Michelin will continue to supply tires to its partner teams in 2006. 2007 would, therefore, quickly illustrate the consequences of the FIA's policies.

-michelin-