Rocket Racing LeagueŽ NAMES WHITELAW CEO

RRL Expands Board and Management Team

NEW YORK, January 27, 2006 - The Rocket Racing LeagueŽ (RRL ) today announced the appointment of Granger Whitelaw to the position of Chief Executive Officer. As President and CEO, Mr. Whitelaw will continue to lead the RRL, providing strategic guidance to management and working to develop partnerships to further the goals of the league. The RRL also announced the addition of Robert K. Weiss and Ramy Weitz to its Board of Directors and an expansion of the company's management team and advisory board.

Mr. Weiss is a television and film producer currently serving as Vice Chairman of the X PRIZE Foundation where he executive produced the live telecast and webcast of the winning Ansari X PRIZE flights. Mr. Weiss has produced 17 films including "The Blues Brothers," "The Naked Gun", "Tommy Boy," and "Scary Movie" 3 & 4. He has served as a consultant to the Boeing Corporation and was a principal in a consortium that produces and distributes space-related multimedia educational and entertainment programs, products and services. Mr. Weiss was also the Executive Producer for the American Rocket Company, producing multimedia connected with the development and testing of hybrid rockets.

Mr. Weitz is the founder, creative director and managing director of several companies in the fields of media production, including Pixel Animation, Pixel Multimedia, Broadband Studios, RT-Set, and five additional companies spanning the fields of simulation, optical networking and team collaboration platform development.

The league also announced the expansion and development of its senior management team, promoting VP of Operations Tim Gormley to the position of Chief Operating Officer and the addition of Tom Tauzin to serve as Director of European Racing Operations.

Mr. Gormley brings more than 20 years of operations management experience in a technical environment to the RRL. He has extensive executive level experience both at the Fortune 50 and start-up level and has overseen technical applications development, product delivery, business development, contracting, client management, human resources, and accounting functions.

The RRL has also expanded its advisory board with the addition of Dr. Ron Dimant and Dr. Robert Hariri. Dr. Dimant is the Managing Director of MumboJumbo, a top tier developer and retail publisher of premium casual games distributed by Yahoo, MSN, Best Buy and Wal-Mart, among others.

Dr. Hariri is the president of the cellular therapeutics division of Celgene Corporation. Recognized as a leading scientist, surgeon and pilot, Dr. Hariri has led the development of new human cellular and tissue therapeutics. He has held various faculty positions at the Cornell University Medical College and Graduate School of Medical Sciences, earning a number of academic and professional honors.

About the Rocket Racing LeagueŽ

The Rocket Racing LeagueŽ is an aerospace sports and entertainment organization that combines the competition of racing with the excitement of rocketry. The RRL is dedicated to providing safe and thrilling experiences for families through live events, television broadcasts and interactive technologies. Co-founded by Dr. Peter H. Diamandis, founder of the X PRIZE, and Mr. Granger Whitelaw, two-time Indianapolis 500 champion team partner, the league's mission is to serve as a technology accelerator in the areas of airframe, propulsion and spacecraft design, and reach for the future to inspire the next generation of spaceflight enthusiasts.

Rocket Racing LeagueŽ ™, RRL ™, and X-Racer ™ are trademarks of Rocket Racing, Inc.



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