Penske Racing, Inc and Quicken Loans Inc. Announce a Multi-Tiered Marketing Agreement

Indianapolis, IN (May 22, 2003) - Penske Racing, Inc. and Quicken Loans Inc., the nation's leading online mortgage lender, announced a multi-tiered marketing and business development agreement designed to leverage the platform of Indy car racing to drive business and brand awareness.

Under the terms of the agreement, Quicken Loans logos will appear on cars driven by two-time defending Indianapolis 500 Mile Race winner Helio Castroneves and two-time CART National Champion Gil de Ferran in the Indy Racing League beginning with this week's running of the Indianapolis 500 Mile Race.

Penske Corporation and its affiliate companies' 35,000 employees will benefit from the association as they will be able to take advantage of Quicken Loans Home Loan Benefit Plan - a unique employee benefit that can save Penske employees money and make getting a home loan quick and easy. Additionally, Penske Corporation, United Auto Group and Penske Truck Leasing consumer customers will benefit through various Quicken Loans programs.

"Our association with the most successful team in Indy car racing history makes sense for our brand and for our clients," said Dan Gilbert, Chairman and Founder of Quicken Loans. "We believe Penske and Quicken Loans have a shared set of values for high quality, outstanding customer service and winning. Quicken Loans has earned a reputation as America's Home Loan Experts and Penske Racing has consistently demonstrated the highest level of expertise in Indy car racing for over thirty years. Indy car racing fans are savvy consumers who will appreciate the high level of service and value that Quicken Loans offers homeowners."

Known for performance, precision, attention to detail, unparalleled customer service and innovation, the name "PENSKE" is synonymous with winning both on the track and off. It is these attributes that attracted Quicken Loans to the Penske organization and its subsidiaries.

"Racing is about intensity, decisiveness, organization and execution," said Roger S. Penske, Chairman and founder of Penske Corporation and Penske Racing, Inc. "These metrics have been the baseline for Penske Corporation and its subsidiaries, and are the reason that racing is the common thread throughout our organization. Quicken Loans products and services can improve the home owning environment for our employees and fans."

Penske Racing is the most successful Indy car racing team in history with 114 race wins, highlighted by a record 12 Indianapolis 500 Mile Race victories, 11 National Championships, and 141 pole positions.