Spyker MF1 Team , a 100% subsidiary of Spyker Cars N.V., is proud to announce it has agreed an engine supply agreement with Ferrari.

Under this contract, Ferrari will supply its V8 engines to Spyker MF1 Team as well as the required technical assistance to run the engines in all races and tests.

Victor Muller, Spyker Cars and Spyker MF1 CEO: "To reach agreement with the number one name in the Formula One world for over 50 years is a milestone in the history of our company. I am convinced that the co-operation of Spyker MF1 Team with Ferrari and its dedicated staff will bear fruit for the 2007 season. Mike Gascoyne`s input as Chief Technology Officer, effective November 1, 2006, leads me to believe that Spyker will become a serious contender in the F1 seasons to come."

Michiel Mol, Director of F1 Racing - Spyker Cars and Spyker MF1: "After the completion of the sale yesterday this announcement completes the first chapter of Spyker MF1 team and I believe truly illustrates our commitment and ambition. We are in F1 to be competitive."

Colin Kolles: "It has been an agonising wait for this decision but I think it reflects the new found stature of our team under the Spyker ownership. The most important element for our technical team is that for the first time in many years they have long-term stability which is something which has hurt our design process in recent years. There is a lot of work to do before we get running in early 2007 but we all love a challenge!."