Panis

COLOGNE, Germany -- Toyota's Olivier Panis, the oldest driver in Formula One, said on Saturday he did not plan to retire at the end of the 2004 season.

"I want to say very clearly that I'm not retiring," the 37-year-old Frenchman said at the launch of Toyota's 2004 car at the team's factory in Germany.

Big-spending Toyota had a disappointing second season in Formula One last year, suffering from regular retirements and finishing eighth out of 10 teams with 16 points, just six of them contributed by Panis.

But despite the fact that the former Ligier, Prost and BAR driver's contract will be up at the end of 2004, Panis said he was confident that a good season in the TF104 car would secure him another year in Formula One.

"I want to wait and see what we do with the car," Panis added. "I think it promises some good results. Toyota is now thinking like the big teams, like Ferrari. I think stability is key issue and if we do well I'm sure we'll continue for 2005."

Toyota's huge investment in their Formula One project and a steady improvement in 2004 would make a place with the team in 2005 attractive to rivals like Briton David Coulthard, who by then will have been replaced at McLaren by Juan Pablo Montoya.

"I think Coulthard is one of the best drivers around, but today I want to concentrate on the launch of the 2004 season," team principal Tsutomu Tomita said on Saturday.