Ferrari Challenge Enters 14th U.S. Season of Privateer Racing

Ferrari Festival & Racing Atmosphere Open to the Public - Season Highlights New 430 Challenge and Historic Vintage Racing, Along with Select FXX Demonstrations

ENGLEWOOD CLIFFS, N.J., April 3 -- Entering its 14th racing season in the U.S., the North American Ferrari Challenge continues to provide owners and enthusiasts access to world-class racing venues throughout the U.S. and Canada while offering non-professional privateers the opportunity to compete against other Ferrari owners in a highly enjoyable racing series.

For 2006, the Ferrari Challenge introduces the new 490 hp F430 Challenge car, piloted in a field of more than 40 owners, along with several 360 Challenge cars -- select races will also include the Ferrari Shell Historic Challenge, as well as demonstrations of the FXX (a special limited-series 800hp prototype). This year the Ferrari Challenge is marked as the longest- running series of its type in North America.

"As a company, Ferrari is synonymous with racing, technology and passion," said Maurizio Parlato, President and CEO for Ferrari North America, Inc. "Racing is in our DNA, and the Challenge Series has always allowed our owners to experience the very same passion and excitement that our racing teams enjoy on a worldwide perspective."

As the longest continuously running sanctioned race series for owners, the Ferrari Challenge is one of the numerous "exclusive" experiences that Ferrari offers its customers -- and whether owners are actually racing in the series, dining in the luxurious VIP hospitality tents, or socializing with those that share their enthusiasm for Ferrari, Parlato confirms that the weekend festivals provide a unique atmosphere not to be compared.

For the 2006 season, events will include races at Homestead (Miami) Speedway; Infineon Raceway (Sonoma, CA); Le Circuit (Mont Tremblant, Quebec); Circuit Gilles Villeneuve (Montreal, Quebec) in conjunction with the Montreal Grand Prix; Road America (Elkhart Lake, Wis.); Lime Rock Park (Lakeville, CT); and Portland International Raceway (Portland, Ore.).

All events are open to the public and afford the opportunity for spectators to peruse the paddock areas, photograph rare Ferrari vehicles, and enjoy the Festival setting at each venue. Three specific events, (Miami, Infineon and Road America) will each offer spectators (over 21 years of age) a chance to partake in a Kart Challenge with the opportunity to win a Ferrari Driving Experience at the company's new North American Driving School.

According to Parlato, the Challenge Series is one of the many assets Ferrari provides exclusively for its owners, and together with experiences such as the annual Ferrari Rally (http://www.ferrarirally.com/ ), and Ferrari's all-new North American Driving School in Mont Tremblant, Quebec (http://www.experienceferrari.com/ ), the company continues to provide environments where owners can enjoy their cars in the manner for which they were intended -- with top performance and through unique opportunities and venues.

BACKGROUND HISTORY

Ferrari's own racing series was created in 1993, for the then-current Ferrari 348, to allow Ferrari customers a chance to enjoy their cars in a structured, yet competitive environment, racing against other Ferrari owners on some of the great tracks of North America. The series is organized by Ferrari North America and its authorized dealers, and sanctioned by the Grand American Road Racing Association (Grand Am).

Since 2000, the featured car has been the 360 Challenge -- a special racing version that has been built by the Ferrari factory specifically for the series. For the 2006 season, the F430 Challenge will be introduced and will race alongside the 360 Challenge. In 2007 it will replace the 360 Challenge.

Drivers who have not previously competed in the North American Ferrari Challenge must submit an online application to the Challenge Manager at Ferrari North America, completely detailing previous racing experience. Decisions regarding eligibility of drivers will be made by the Ferrari Challenge Committee, whose decisions will be made for safety reasons and in the spirit of the series, and whose decisions are final.

The Shell Ferrari Historic Challenge celebrates the speed, style and Italian thoroughbred racing that forms the essence of Ferrari. The Series is limited to authentic, original competition Ferraris and Maseratis built prior to 1980, as well as pre-war Alfa Romeos as raced by the Scuderia Ferrari. Coupled with the Ferrari Challenge Series, both events showcase the best of Ferraris past and present. The Series allows owners of these historic vehicles to compete against each other and showcase the beauty and speed of these rare and vintage cars.

KART CHALLENGE

New to the Series, and for 2006, Ferrari adds another element of competition to the festival atmosphere of select Challenge weekends, with the addition of an all-new Kart Challenge event. Open to the general public, as well as Challenge participants and their guests, the Kart Challenge will have its own track and its own competition to find the fastest driver, utilizing 13hp racing Karts.

The driver setting the record for the fastest lap time of the weekend will win a Ferrari Driving Experience at the company's all-new North American Driving School in Mont Tremblant, Quebec. (Winners must be 21 years of age or older; younger winners will receive an alternate prize.)

The Ferrari Kart Challenge will be offered in three venues during the 2006 season: Miami/Homestead Speedway (April 7-9); Infineon Raceway (May 12-14); and Road America (July 7-9). Karting will take place at each of the three venues from 9am-6pm on Friday and Saturdays, and 9am-3pm on Sundays during the Challenge weekends.

The Ferrari Challenge Series is organized by Ferrari North America, Inc., and sanctioned by the Grand American Road Racing Association. For complete information on the series, visit http://www.ferrarichallenge.com/ .

Ferrari North America, Inc. is headquartered in Englewood Cliffs, N.J., and is the exclusive North American distributor of Ferrari vehicles including the F430 Berlinetta, F430 Spider convertible sports car, 575M Maranello sports coupe, 612 Scaglietti (luxury performance 2+2), and Superamerica (12-cylinder Berlinetta). For more information please visit http://www.ferrariusa.com/ .