Taylor Offers ‘Wealth’ of Knowledge To Stars of Karting Competitors

October 18, 2007

ATLANTA (Oct. 18, 2007) – As the Snap-On Stars of Karting presented by the Indy Racing League closes out its 2007 season this weekend in Las Vegas, SunTrust, the Official Bank of Motorsports, wants to send its promising young competitors off with a little food for thought during the coming offseason. The topic: financial education. And who better to offer advice to young racers based on his first-hand experiences than veteran road racer and three-time sports car champion Wayne Taylor.

Taylor has driven for some of the world's top racing teams in his 30-plus seasons in the sport and has been victorious in the prestigious 24 Hours of Le Mans and the Rolex 24 At Daytona, among other marquee events. He also recently closed out a successful first season as owner of Wayne Taylor Racing, which campaigns the No. 10 SunTrust Pontiac Daytona Prototype in the Grand-Am Rolex Sports Car Series and features Italian driving ace Max Angelelli. Remarkably, the first-year team was on its way to winning SunTrust's second Rolex Series championship in the last three years before a blown tire late in the season's final race ended its title hopes.

Still, a third-place finish for his first-year team in the championship of America's most competitive road racing series is something Taylor certainly feels proud of. And, Taylor and those around him know 2007 was not a matter of beginner's luck, but a product of design by a former full-time race driver who had a thirst for knowledge about the business side of racing from the day he first got behind the wheel of a race car.

And what does Taylor have to say to the world's future racing stars in the Snap-On Stars of Karting? "The only way you will succeed in the business of motorsports and in life, in general, is if you have stable finances – knowing what you are doing with your money," he says. "Whether you become a driver or a team owner, you have to remember that your racing career won't last forever. In today's market, being a successful driver is not only about your ability to drive. It's also about your ability to make the right financial decisions. You have to identify what your goals are as a driver and also understand what it is going to take for you to make a living in the sport. And you have to make the best of the money that you are earning."

Considering that even the most successful racing careers are full of uncertainty, Taylor knows that it is never too early to begin building a financial foundation for the future.

"Decisions change as you become more successful, but a lot of drivers borrow money early in their careers and have never been able to pay it back later on, and this is a problem," he says. "It's not every year that a driver is going to be guaranteed a drive. So there are years where you are going to have to live off of any financial investment that you made in the earlier days."

The first and perhaps most basic recommendation Taylor has for young drivers is to spend less than they earn, to be smart about making their money last, and to always have their eyes far down the proverbial road of life.

Something many young drivers don't think to do with their money early enough in their careers, Taylor says, is investing it.

"Not only do you need to be conservative with your money and save it whenever you can, much like you do with your tires and your race car during a race, you need to get an early start to making your money work for you," he says. "You need to spend your money wisely, and you need to buy things that pay you back more money later. Banks have a lot of ways to help you save money so that when you're not racing, you have something to help pay for your living expenses. If you put time and money into investments that will grow, then your time and money will work for you when you stop racing and your investments will start paying you when you retire."

Finally, perhaps Taylor's most important piece of advice would be for young racers to listen and learn from what successful people have to say.

"I didn't become a multiple sports car champion and team owner on my own," he says. "Just as I got advice and learned from other drivers and team owners, I also got advice from my financial advisors about what to do with my money and how I could make sure that I would never run out of it. Find a trusted banking partner – one that understands your unique needs with racing – to help steer you in the right financial direction."

To learn more about the specialized banking services of SunTrust, Official Bank of Motorsports and proud sponsor of the Snap-On Stars of Karting for the second year, go to http://www.suntrust.com/motorsportsbanking and http://www.suntrustracing.com/.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2007, SunTrust had total assets of $186.4 billion and total deposits of $123.4 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides credit cards, mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.