SUMMARY JUDGEMENT APPLICATION

Hingham, UK 24 January 2011

Team Lotus is delighted that we were successful at the Summary Judgment Application hearing today and that the Judge threw out Group Lotus’ application even before hearing the arguments of the barristers on either side.

Although this decision was never in doubt, it means that we start the 2011 season under the Team Lotus name. Whilst we expected that the Judge would refuse this application, it is good to have the decision in black and white.

The Judge also felt that it was in everyone’s best interests to bring the hearing date for the full trial forward and that is now fixed for 21 March rather than us having to wait until Autumn 2011 or even later. We remain confident that we will succeed at the full trial and we can now focus on the challenges ahead in the 2011 FIA Formula One World Championship.