Press Release: Speed Channel Donates $10,000 to Collectors Foundation

TRAVERSE CITY, Mich. (January 2005) – The Collectors Foundation, a newly formed nonprofit corporation administered by Hagerty Insurance and governed by an independent board of directors to help further the passion and long-term interests of col lector car and classic boat hobbies, received its first major donation – a check for $10,000 from SPEED Channel. The check presentation was broadcast during the cable network’s annual telecast of the Barrett-Jackson Classic Car Auction.

“We hope that more corporations and individuals will join us in building this public, not-for-profit foundation into a permanent resource for the long-term interests of our hobbies,” Bob Knechel Executive Director of the Collectors Foundation said. “We are confident that SPEED Channel’s lead in supporting the Collectors Foundation will encourage other equally passionate companies and enthusiasts who recognize that there is a future value to investing in tomorrow’s hobbyists.”

President of SPEED Channel Jim Liberatore presented the donation to Knechel at the SPEED Channel booth as the cameras rolled during a pause in the frenetic auction activities at Barrett Jackson.

“SPEED Channel is impressed with the vision for a Collectors Foundation and appreciative of Hagerty’s investment of resources and personnel to get it off the ground,” said Liberatore. “We are grateful for this opportunity to do our part and we invite others to join with us in supporting this visionary effort.”

The funds will continue the work started by the Hagerty Fund for Historic Vehicle Preservation and Education and build on its success as the organization transitions into a new national nonprofit foundation to more adequately address the future need for skilled craftsmen, knowledgeable collectors and the growing market for a variety of vehicle hobbies.

Hagerty Insurance, the largest insurer of collectible cars, motorcycles and boats in the United States, has chosen to underwrite all start-up and administrative costs associated with the Collectors Foundation. The Board of Directors is grateful for Hagerty’s leadership and generosity in the establishment of a Collectors Foundation and is developing plans to move the foundation to self-supporting status when that is possible.

For more information about Collectors Foundation please contact Executive Director Bob Knechel at 231-932-6835. For more information about Hagerty Insurance call 800-922-4050 or visit www.hagerty.com.

SPEED Channel is the nation’s first and foremost cable network dedicated to motor sports and the passion for everything automotive. From racing to restoration, motorcycles to movies, SPEED Channel delivers quality programming from the track to the garage. Now available in more than 68 million homes in North America, SPEED Channel is among the fastest growing sports cable networks in the country. For more information, please visit www.SPEEDTV.com.

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