Friday October 22nd, 1999

The Liechtenstein based Fritz Kaiser Group (FKG) sold its 24.5% equity stake in Red Bull Sauber Holding Ltd for an undisclosed price to the remaining shareholders Peter Sauber and Red Bull Trading GmbH of Austria.

Fritz Kaiser, chairman and CEO of FKG - a diversified group of consulting and services companies -, will also hand over his chairmanship of the Formula One group holding company to Peter Sauber, founder and CEO of the Swiss based Formula One Team, but will stay on as chairman of the Swiss-Malaysian Joint Venture company Sauber Petronas Engineering AG, which will develop further its commercial engineering arm.

Fritz Kaiser: "This move will give Peter Sauber all leverage to concentrate on his challenge to bring the Formula One team further up in the grid. FKG wishes to focus more on its core business and on new projects and investments but will continue to support the team and its key sponsors with various services."

Peter Sauber: "We are very thankful to Fritz Kaiser and his group for the substantial contribution our company has enjoyed during the last 4 years and are happy to continue our co-operation. We are today in a position to use a solidly developed platform to master the Formula One challenge and we will be very well prepared for the next season."