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"THUNDERHAWK" OFFICIALLY CHOSEN AS NAME FOR Rocket Racing LeagueŽ'S FIRST X-RACER

Las Cruces, NM (October 20, 2006) - Beating out names like American Spirit, Sky Warrior and Banshee in an online contest that generated more than 2,000 submissions from fans worldwide, the Rocket Racing LeagueŽ (RRL) announced that its first Mark-1 X-Racer will be known as the Thunderhawk. The announcement took place at the unveiling of the X-Racer during the October 2006 X PRIZE Cup in Las Cruces, NM, world headquarters of the Rocket Racing LeagueŽ. The RRL, which aims to debut its first NASCAR-style races in late Fall 2007, is a first-of-its-kind aerospace sports and entertainment league formed by X PRIZE founder Peter Diamandis, a space travel enthusiast, and Granger Whitelaw, a two-time Indy 500 champion team partner.

The fan submitting the winning name is Michael Higgins of New Market, Maryland, an engineer and manager working in the composite pressure vessel industry serving life-support and aerospace/defense applications. When he's not busy naming rockets, Higgins enjoys spending his free time in the cockpit of his LS-6 15m competition glider competing as a sailplane racer. For his winning entry Higgins received airfare, lodging and two VIP passes to the X PRIZE Cup, an RRL bomber jacket, passes to the first season of RRL races and other goodies.

So how did Higgins come up with the Thunderhawk moniker? "The aircraft, with its rocket propulsion, combines thunderous sound with brilliant flame and light. So I worked up several names focused on thunder and light, and tried to connect those with a bird of prey," he explains. Higgins is openly enthusiastic about the official launch of the League. "The RRL races will put rocket propulsion technology in front of thousands of people through thrilling events. They should generate public interest in rockets and space, much like the famous air races of the 1920s and 1930s did during the golden era of aviation."

Posted on the RRL website, the contest began January 30 and attracted over 2,000 submissions. The top 1,000 names were whittled down to ten semi-finalists by a panel of RRL judges. Fans then were able to vote for their favorite name from the top ten on AOL. Nearly 20,000 votes were cast via AOL (http://reference.aol.com/space/rocket-racing), crowning Thunderhawk the most popular name.

"Thunderhawk is the ideal name embodying both the physics and spirit of the Mark-1 X-Racer, and I want to congratulate Michael Higgins on his great submission," stated Granger Whitelaw, president and CEO of the Rocket Racing LeagueŽ.

The RRL commissioned local Las Cruces artist Joel Perez to create the Thunderhawk logo for the X-Racer. The new logo and paint scheme was unveiled at the X PRIZE Cup, and limited edition commemorative items featuring the new name and logo were offered during the event and will be available online for a limited period at www.rocketracingleague.com.