Jacques Calvet, President of Automobiles Peugeot, and Alain Prost, owner
of the Prost Grand Prix team, announced today the signing of a sponsoring
agreement in order to participate as early as 1998 in the FIA Formula One
World Championship. With effect from this date for a three-year period,
Peugeot will provide its V10 engine to the Prost Grand Prix Team. Drawing
on their technicological and human resources as well as Formula 1
experience, the Prost Grand Prix team and Automobiles Peugeot are aiming
to win the world championship together. This event will be featured on our
site as soon as 6 p.m. (local time).