CONCORD, N.C. (March 25, 2008) - Chip Ganassi Racing with Felix Sabates (CGRFS) announced today an expansion of their current partnership with Kennametal (NYSE: KMT) to include primary sponsorship for the next two NASCAR Sprint Cup Series (NSCS) races in Martinsville and Texas on the No. 40 Dodge Charger driven by NSCS and Nationwide Series (NNS) Raybestos Rookie of the Year points leader Dario Franchitti.

"Through our long partnership with Chip Ganassi Racing with Felix Sabates, I have developed a deep respect for the hardworking team and their successful operation," said Kennametal Inc., Chairman, President and CEO Carlos Cardoso. "Kennametal is a global company, so I am especially pleased to see that NASCAR is gaining popularity internationally with more of our customers and employees around the world showing increasing interest. One thing is certain," he concluded, "Our company is really looking forward to watching Dario in the No. 40 Kennametal Dodge!"

A longtime CGRFS partner, Kennametal supplies tooling and machining technology to CGRFS’ Charlotte and Indianapolis-based racing shops. In addition they provide the team’s engineers and machinists a myriad of opportunities to further refine their skills in order to gain optimum performance through Kennametal’s internal university program.

“Over the past eight years Kennametal has played an extremely important role within our race teams in both Charlotte and Indianapolis,” said Team Owner Chip Ganassi. “Like us, they strive to be the global leader in their field, and we’re happy to increase our involvement with them and help build their brand at the race track with Dario.”

The Edinburgh, Scotland native will contest the Goody's Cool Orange 500 at Martinsville Speedway March 30th and the Samsung 500 at Texas Motor Speedway on April 6th in the No. 40 Kennametal Dodge, and is a perfect fit for the global company which delivers its products through employees in over 60 countries.

Franchitti, who competed in the NASCAR Craftsman Truck Series event in Martinsville last season, successfully qualified in on time for the race. Although the Scot will make his first appearance behind the wheel of a stock car at Texas, he won the IndyCar pole position in 2004 event.

Kennametal Inc.

Kennametal Inc. (NYSE: KMT) is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers' competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains. Customers buy approximately $2.4 billion annually of Kennametal products and services - delivered by our 14,000 talented employees in over 60 countries - with almost 50 percent of these revenues coming from outside North America. Visit us at www.kennametal.com

About Chip Ganassi Racing with Felix Sabates

With 13 wins in 2007, CGRFS continues to add to its tally of 90 trips to victory lane. Chip Ganassi created his own one-car IndyCar team in 1990 and established a partnership with a new sponsor, Target. Today, his teams include two IRL IndyCars, one Indy Pro Series car and along with Felix Sabates he has three cars in the NASCAR Sprint Cup Series, two entries in the NASCAR Nationwide Series and a Daytona Prototype in the world of Grand-Am Rolex Sports Car Series racing. Ganassi’s IndyCar teams have amassed five Championships and 56 wins since 1994; his NASCAR teams have 12 wins and two Rookie-of-the-Year titles; and the Grand American team has won two Rolex Series Daytona Prototype Championships and are the three-time defending Champions of the Rolex 24 At Daytona. Chip Ganassi Racing operates out of state-of-the-art race shop facilities in Indianapolis, Ind., and Concord, N.C., with a corporate office in Pittsburgh, Pa.