IT, TELECOM COMPANIES REPLACE TOBACCO AS FORMULA ONE BACKERS

          As Formula One (F1) teams "slowly begin the process of
     reducing their dependency on tobacco sponsorships," IT and
     telecom companies are "stepping in to fill the void,"
     according to Patrick Harverson of the FINANCIAL TIMES, who
     cites Nortel, Computer Associates and Esat Digifone as
     "relatively new" F1 sponsors.  Harverson writes that the
     "rush" of IT and telecom sponsors to F1 "reflects not just
     the sport's desire to find new sponsors, but also a growing
     enthusiasm within the technology industry for F1 as a
     marketing vehicle."  The technology industry sees motor
     sports as not only a "way to reach a global audience, but
     also as a rare opportunity to sponsor a high-profile sport
     that relies heavily on cutting-edge technology and
     telecommunications" (FINANCIAL TIMES, 8/13).