Court Release Announcement

Group Lotus and Proton are delighted with the outcome of yesterday's hearing in which the Judge ordered a full trial of this matter to be heard as soon as possible given the proximity of the start of the new 2011 Formula 1™ season in a few weeks. The trial has been fixed at the English High Court for 21 March 2011.

Group Lotus and Proton have been made aware of the press release issued by 1Malaysia Racing Team (1MRT), it is completely incorrect and a misrepresentation of the Judge's decision suggesting that Group Lotus' application was "thrown out". No decision was made on Group Lotus' application. The Judge proposed that the better procedural route was to order a speedy trial of all the issues in dispute in the case. 1MRT initially resisted the Judge's approach to resolve all matters quickly and before the start of the 2011 Formula 1™ season but the order was subsequently made and the first available date was 21 March.

Group Lotus and Proton have always held the view that this matter should be resolved as soon as possible in the interests of Formula 1™ and the fans. We therefore welcome this decision and look forward to the full trial. We are confident that at the trial Group Lotus will succeed in preventing 1MRT, Mr Fernandes and his companies, from using the Lotus name in Formula 1™ once and for all.