Pioneer extends Jaguar deal.

Pioneer Europe NV has confirmed that it will remains as a major partner of Jaguar Racing for the 2004 Formula One world championship season.

The electronics giant - of which Pioneer Europe NV is the regional headquarters - partnered the team in 2003, and has supported it with expertise and innovation to compliment the already technically-advanced Formula One environment. The Pioneer Corporation is an established global leader in electronics and audio/video products, including DVD and plasma display technology.

"Formula One and Pioneer have many rational and emotional values in common," explained consumer plasma division director Marnix Somers, "They stand for internationality, innovative power, expertise and an exacting, almost perfectionist, quality standard.

"The ultimate fast sport and the ultimate up-to-the-minute stylish technology is a perfect match. Our expectation is that this partnership will play a particularly important role in extending Pioneer's brand image, as the 2004 Formula One world championship runs, not only in Europe, but also in Australia, Malaysia, Canada, USA, Japan, China and Brazil, where Pioneer has a presence.

"Pioneer's involvement has a dual function that includes extending the awareness for the brand through global image building activities, as well as opening up innovative
marketing channels. Pioneer is pleased to be supporting the Jaguar Racing team and look forward to working together over the seasons to come."

Jaguar will run third-year Australian driver Mark Webber alongside Austrian rookie Christian Klien in 2004, with reigning F3000 champion Bjorn Wirdheim, a Swede, recently announced as reserve driver.

"We are delighted that Pioneer has extended its relationship with us," team MD David Pitchforth confirmed, "We have worked very productively over the last six months and our mutual passion for technological leadership is parallel to Jaguar's goal of challenging for top honours in the long term. Jaguar Racing is aiming to be a world class technology company with the best in class engineering capability and Pioneer's support alongside us will help accelerate this process."