Following today's meeting between an umber of team principals and the FIA, the Formula One World Championship's governing body has issued the following:

Following the consultation meetings held for the team principals and FOM on 28 January and 15 April, the first draft of the 2008 Formula One Technical Regulations will be finalised no later than 27 May for inclusion in the dossier for the World Motor Sport Council to be held on 29 June.

Subject to its approval by the World Motor Sport Council, the draft will be circulated on 1 July to all the main stakeholders in Formula One including:

Formula One Management
Race organisers
Race promoters
Current Formula One drivers
Potentially competing teams
Potential engine suppliers
Potential tyre suppliers
Other significant suppliers
Any credible potential stakeholder which requests a copy

Stakeholders will be invited to submit written comments no later than 31 July 2005. These comments will be considered by the FIA in consultation with all stakeholders who confirm their commitment to the 2008 FIA Formula One World Championship.

A final draft will then be prepared, taking into account all comments received. This must be ready no later than 23 September for inclusion in the dossier for the World Motor Sport Council meeting to be held on 26 October. The final version approved by the WMSC will then be submitted to the FIA General Assembly in Rome on 28 October.