Once more, for 2005, we have a series of new regulations. There have been several bodywork changes to reduce the aerodynamic downforce. The front wing is raised, the rear wing is moved forward, and the dimensions of the floor have changed resulting in a 15% reduction in downforce. There have also been improvements in crash structures, wheel tethers and the introduction of anti-debris construction to critical parts of the bodywork, all designed to improve safety.

The engine must now complete 2 race meetings which as well as the technical challenge, bring an interesting logistical challenge to use the engine properly for two races. We now have only one set of tyres for qualifying and the race. This will be an important aspect of the races in 2005. The driver and team that use their tyres intelligently will prosper and I believe this will revive a past element to Formula One – the need to manage your tyres for the whole race. The latter part of the races will be fascinating and, more importantly, highly entertaining.

I mentioned last year that we had begun the process of succession at Ferrari and this continues. Aldo Costa has the main responsibility for the design and development of this car. He is ably supported by Marco Fainello, Vehicle Dynamics and John Iley, Aerodynamics. Tiziano Battistini has taken Aldo’s previous role of Design Office Manager. Rory has been a ‘fatherly’ figure in this transition and he remains as committed as always, but now in a different role.

This transition has been extremely smooth and seamless because Rory and Aldo and the rest of the technical team, chassis and engine, share the same philosophies, the Ferrari philosophies, the philosophies they have created together and the philosophies of our team. Our beliefs of what makes a good racing car.

There are no radical features of this car but logical progressions in all the areas that we feel make a good racing car. It is stiffer, lighter, more stable, and, most importantly with the new tyre regulations, it should be less stressful on the tyres.

The transmission is a further progression, now utilising more carbon in the structure to improve stiffness and reduce weight.

I am extremely proud of this car and the work of the teams involved, design, manufacturing, assembly and logistics. I am not afraid to again say that I think it is the best car we have produced ...so far.

I mentioned the requirements for the tyres for 2005 and again, our partnership with Bridgestone will be crucial. The new technologies required means that at the present time there is an extremely steep learning curve. Undoubtedly our opposition have the benefit of numbers at this stage. Our calculations show that Bridgestone and Ferrari have only been able to complete less than 20% of the mileage in testing than the Michelin teams at this stage. But we believe in quality as well as quantity and with the support of Bridgestone we believe our partnership will succeed.

Other critical technical partnerships for 2005 will include Shell, particularly for the extra demands placed on engine mileage, Brembo with whom we have developed an innovative braking system, Magneti Marelli, Sachs, SKF, and BBS. All of these companies have made a huge commitment to the Ferrari Formula One programme, and they share in our successes and failures. The introduction of the new regulations, which due to the intransigence of several teams, were announced with some delay, meant that we did not have enough time to do the job we wanted to do.

The new regulations, aerodynamics, tyres, etc, brought different demands and we decided we needed more time. The addition of the extra GPs, totalling 19 for 2005, meant that mid season updates would be more difficult and it also meant a long season with opportunities to catch up if we made a slow start. We therefore made the decision to start the season with a modified version of the 2004 car and introduce this car after a few races. We believe it is the correct decision, even if the beginning of the year may be a little frustrating.

We will begin testing the F2005 next week with Luca Badoer. Michael and Rubens will drive the car after Malaysia. Marc Gene has brought an extra depth to our team and we are delighted he has joined us. His technical feedback and contribution has been excellent and he will heavily involved with the tyre test programme.

In my opinion, we are facing one of the most interesting and challenging seasons for some years. The change of regulations will definitely split the field, particularly at the beginning of the season, and the one tyre rule will bring a fascinating element to the races.

As always, we cannot guarantee success, we can only guarantee that we will try our best.

Forza Ferrari!