Michael Waltrip, owner of Michael Waltrip Racing, Incorporated, announced today that former NASCAR champion and three-time Daytona 500 winner, Dale Jarrett, is joining the organization to drive the team's second Toyota entry in the NASCAR NEXTEL Cup Series beginning in 2007.

"When we began building Michael Waltrip Racing, I knew the key to success was bringing in quality people," Waltrip explained.  "Ty Norris has been instrumental on the business side, just as Larry Carter and Bobby Kennedy have been on the competition side.  By hiring Dale, we have yet another example of the importance we are placing on securing first-rate individuals for our program."

"Dale's resume speaks for itself," continued Waltrip.  "To have a NASCAR champion on our team is another significant piece of the puzzle that pulls together our vision.   I know his knowledge and experience will be invaluable for a start-up team with a new manufacturer and will allow our organization to grow and succeed at a faster pace."

Jarrett is a well-known veteran of the NASCAR NEXTEL Cup Series.  He established himself as a perennial championship contender in the mid-90s, finishing in the top-10 in championship points for seven consecutive seasons and winning the series title in 1999.   Jarrett has 32 career NASCAR NEXTEL Cup Series victories, including the aforementioned three Daytona 500 wins and two in the Brickyard 400 at Indianapolis Motor Speedway.  His resume also includes being named to NASCAR's 50 Greatest Drivers list.

"My tenure at Robert Yates Racing has been extremely important to me, my family and my career," Jarrett said.  "We accomplished a lot together during the past 12 years and I am thankful to Robert and everyone at RYR and Ford Motor Company for the opportunities they afforded me and the success we have all shared.  This was a very difficult decision.  I feel this is a great opportunity for me to take on a new challenge and what they are building at Michael Waltrip Racing fits my plans for the future."

"My decision to join Michael Waltrip Racing is based solely on a competitor's perspective," Jarrett continued.  "What Michael has pulled together is impressive and I want to be a part of it.  The Daytona 500 might seem far away, but for a race team it is right around the corner.  Michael's team is building cars now, their core management team is in place, the competition department is established and sponsors are locked up.  From that perspective, it doesn't feel like I am going to a brand new team."

"Toyota's strategic entry into NASCAR has been equally impressive," said Jarrett.  "The mark they have made in the NASCAR Craftsman Truck Series in the last three years is reason enough to want to be part of their entrance into the Cup Series."

Waltrip is the first of the three Toyota team owners to solidify their 2007 NASCAR NEXTEL Cup Series drivers.