BMW to compete in Formula 1 from 2006

"For Sauber, the partnership with BMW is an ideal solution as it supports the two goals which have always been paramount for me: firstly, to offer the team the possibility of improving their sporting performance, and secondly, to safeguard the site at Hinwil and the jobs of today's 300-strong workforce.

The involvement of six car manufacturers has resulted in significant changes to Formula One in recent years. For the private teams in particular it has become increasingly difficult to secure the kind of solid financing that will also allow for sporting success. For some years I have also been thinking in terms of succession planning - in the light of the very specific demands of Formula One, that is no easy matter.

The partnership with BMW guarantees continuity. For that reason, too, it represents an ideal solution, because I know it will give the workforce a very good outlook. Over more than 35 years, I have guided this company through often stormy seas, which is why it is so important for me to know that it will be in good hands in future as well."

The new partnership is also made possible by Credit Suisse, which over the next three years will successively sell off its shares in Sauber Holding AG to BMW as well. Credit Suisse took over these shares in 2002 with a view to placing them with suitable investors in due course.

Urs Rohner, Member of the Executive Board of Credit Suisse Group, comments: "We are looking forward to working with BMW. What you associate with BMW and Sauber are, on the one hand, longstanding experience in motor racing and, on the other, efficiency and dedication. That creates an ideal basis for a successful team. Credit Suisse, moreover, will be an Official Partner of the team for the next three years."

Background - BMW Motorsport

Generating innovative technology for sporting contests and record attempts has always been part of BMW's identity. After world records and championship titles with aero-engines and motorcycles, a one-two win in the 1940 Mille Miglia marked one of the first international touring car successes with the BMW 328. In post-war Germany, motorcycling ace Schorsch Meier became a national hero on BMW's flat-twin Boxers.

Since 1966, BMW has earned 24 FIA-approved titles in touring car racing alone - both European Championship and World Championship titles. The national titles accumulated by BMW drivers are numberless. The winning cars: BMW 1800Ti, 2002Ti, 2002, 3.0 CSL, 320, 635CSi, 528i, M3 and 320i. Up to and including 1992, BMW M3 drivers secured more than 1,500 individual wins and 50 titles. From 1993 to 1998, 29 championship titles were won around the globe with the BMW 320i.

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