Lawrence & Hanson will remain naming rights sponsor for the L&H 500 for a further two years, after signing an extension with V8 Supercars Australia.

Australia's leading electrical wholesaler signed a two-year extension to continue as naming rights sponsor of the Phillip Island-based 500km endurance weekend, the opening event of V8 Supercar Championship Series' 'season of endurance'.

L&H first appeared as title sponsor for the Phillip Island event in 2008, the first time the Victorian circuit hosted the endurance-style format after departing its former host Sandown. The company's re-signing sees the L&H 500 title retained until at least the 2011 race.

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"It's exciting that Lawrence & Hanson and V8 Supercars Australia are continuing their relationship into the coming two V8 Supercar seasons," VESA executive chairman Tony Cochrane commented, "L&H and V8 Supercars are both very strong brands and I look forward to building our relationship into the future.

"The L&H 500 is an amazing event and a fantastic precursor to the iconic Supercheap Auto Bathurst 1000 - and the ongoing partnership of L&H and the V8 Supercar Championship Series will help continue to grow the statue and prestige of the L&H 500.

"Lawrence & Hanson's move to continue its partnership with the V8 Supercar Championship Series confirms the championship as a valuable marketing platform and current strength in the tough economic times."

L&H have achieved great results in their two-year association with the event thus far, encouraging it to continue backing the first of the year's two endurance events.

"We are extremely excited to continue our naming rights sponsorship of the L&H 500 and continue our involvement with V8 Supercars," CEO Robin Norris admitted, "Coming into the second L&H 500 this year, it is clear it gives us a unique opportunity to promote our brand and entertain our customers from around Australia.

"The extension of this agreement for a further two years cements this position and allows us to use V8 Supercars as a major part of our marketing and promotional platform. As a business that has been in Australia for 129 years, it is great to be associated with the 'season of endurance'."