<I>Formula 1 Magazine</I> appoints new editor.

Formula One Publishing has announced the appointment of Matthew Franey as Editor of Formula 1 Magazine.

He will assume this position on 6th January 2003.

Bernie Ecclestone, CEO of Formula One Management said: "Matt impressed me and I am delighted he's coming on board with us at Formula One Publishing. As Editor, I think he'll make a valuable contribution to the development and continued success of Formula 1 Magazine".

New editor Matthew Franey added: "I am delighted to join Formula 1 Magazine at such a key moment in its history. Formula 1 remains the world's most exciting, vibrant and spectacular sport and it deserves a magazine that reflects those values. There's never been a better opportunity for an F1 fan like myself to build just that magazine and the team and I look forward to the challenge".

Franey is currently the Deputy Editor of CAR Magazine. He has previously been Managing Editor of MotorSport Magazine and Deputy Editor of Autosport Magazine.

Formula One Publishing was established in October 2002, when Formula 1 Magazine and The Formula 1 Annual were acquired by Formula One Management from European Press. Formula One Publishing is a division of Formula One Management Limited, which is responsible for the commercial side of the FIA Formula One World Championship.