Menard, Inc. - Page 25

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          Mr. Menard attended the time trials and the actual races.23                 
          Typically, Mr. Menard arrived at the racing venue either the day            
          before or the day of the race.  On race day, both before and                
          after the race, Mr. Menard talked with sponsors, potential                  
          sponsors, vendors, potential vendors, Menards employees, and                
          Menards customers.24  During the race, Mr. Menard stayed in the             
          pits with the team.                                                         
                         c.  Other IRL Races                                          
               For IRL races other than the Indy 500, Mr. Menard usually              
          arrived on Saturday for the morning practice and stayed through             
          the race on Sunday.  At these events, Mr. Menard was with the               
          racing team for practice, qualifying, and the race itself but               
          spent the rest of his time talking with sponsors, vendors, and              
          Menards employees.  On occasion, if the racing venue was located            
          near a Menards store or a competitor’s store, Mr. Menard would              
          visit the store.  Mr. Menard missed approximately one racing                
          event in each of 1997 and 1998.                                             
                    3.  Menards’s Relationship With TMI                               
                         a.  Payment and Deduction of TMI’s Expenses                  
               Menards paid certain of TMI’s expenses relating to TMI’s               


               23The Indy 500 time trials and races were held on separate             
          weekends.                                                                   
               24Other Menards executives, including L. Menard and Mr.                
          Archibald, engaged in business-related activities at the Indy               
          500.                                                                        




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