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CHARLOTTE, N.C. -- SPEED will be the U.S. television home for the FIA Formula One World Championship(TM) for the 11th consecutive season in 2006, agreeing to a new deal that also gives the network television rights for GP2 Series(TM) racing.

"F1 has been a SPEED staple since the network first went on the air in 1996," said Hunter Nickell, SPEED Executive VP and General Manager. "As we celebrate our 10th Anniversary in 2006, we are excited about the opportunity to elevate our signature Grand Prix coverage. F1 fans are some of the most loyal and passionate fans in all of motor sports, and SPEED has new tools to work with to bring them even more coverage of the sport they love."

Bob Varsha, David Hobbs and Steve Matchett will continue as the broadcast team, with pit reporter Peter Windsor having an expanded role on-site at each event. The new deal allows SPEED to operate a live camera on the starting grid prior to each race for team interviews.

"I'm always impressed at F1 races by the number of people who come up to me, having watched the TV coverage from both sides of the Atlantic, to say that SPEED's presentation is, in their opinion, the best in the world," said Windsor, whose weekly column "Windsor's Wisdom" will be added to SPEEDTV.com in 2006. "That's a great credit to Bob, David, Steve and the team in Charlotte. If we can expand this with live reports from the F1 grids then I think we can build on that success and provide the North American viewer with even deeper insights into the complex but fascinating global phenomenon that is called F1."

SPEED will air the entire Formula One(TM) season, with at least 15 of the 19 races being live and exclusive.

SPEED is the nation's first and foremost cable network dedicated to motor sports and the passion for everything automotive. From racing to restoration, motorcycles to movies, SPEED delivers quality programming from the track to the garage. Now available in nearly 70 million homes in North America, SPEED is among the fastest growing sports cable networks in the country and an industry leader in interactive TV, video on-demand, mobile initiatives and broadband services.