Pennzoil, CBS Create Broad Sponsorship Deal

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New York -- CBS Corp. has inked an unprecedented multimedia
advertising deal under which a key advertiser, Pennzoil Products Co., will sponsor
programs across the media giant's businesses.

The one-year pact, valued at upwards of $25 million
according to sources familiar with the deal, will include spots and underwriting on
broadcast and cable television, radio and billboards. The sponsorships will commence the
first quarter of next year and was apparently negotiated by Pennzoil's advertising agency,
GSD&M of Austin, Texas.

TNN said the deal was one of the first times a television
and radio company has formed a partnership with an advertiser for sponsorship that goes
across its media business.

Pennzoil has long been a sponsor of events on CBS and The
Nashville Network, but the new deal will integrate the campaign. It's the first time the
broadcast corporation has ever done an advertising deal including all business segments,
according to the company.

On the cable side, the deal will include sponsorship of
NASCAR Winston Cup Racing coverage and the Pennzoil World of Outlaws competition on TNN.
The oil company will be the name sponsor on a special segment of Raceday, TNN's
weekly racing series. Via the cable net's Web site, www.country.com, a
Pennzoil-sponsored webcast will put viewers in racers' cars.

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