Since the first World Championship event at Albert Park in 1996, the FORMULA 1(TM) Foster's Australian Grand Prix has established itself as Melbourne's premier international sporting event.
The four-day carnival is renowned for attracting big-name international stars and creating stunts that have people across the country talking.
Last year, Australia's own Mark Webber hit the front pages of papers from Bahrain to Budapest when he drove a Formula One vehicle across the Sydney Harbour Bridge.
As we enter the second decade of the Grand Prix in Melbourne, the world's most liveable city is now more than ever the undisputed sporting and events capital of Australia.
In order to remain the country's leading global sporting spectacular, organisers are focussed on delivering an event that surpasses all expectations and continues to amaze and delight all who live in this most vibrant of cities.
Today the Australian Grand Prix Corporation launched the world's first hot air balloon in the shape of a Formula One car.
The balloon comprises more than four kilometres of fabric and uses 32 kilometres of thread. It is 36 metres long and occupies a space of 3,113 cubic metres, capable of holding 3,114,853 litres of Foster's!
It has a top speed of 14.5 kilometres per hour - not quite a match for the Formula One machines, which reach top speeds of around 300 kilometres per hour!
CEO of the Australian Grand Prix Corporation, Tim Bamford, is excited about the momentum-building potential of this stunning feat of human creativity and engineering.
"This brilliant creation provides us with an opportunity to take a piece of the Grand Prix to locations across Australia," said Mr Bamford.
"Australians' love for Formula One extends far beyond Melbourne, yet it's not always possible for people to come and appreciate the event in person. With this balloon, we hope to be able to create excitement in regional centres across the land and enable people everywhere to join in the celebrations as we count down the weeks to the 2006 FORMULA 1(TM) Foster's Australian Grand Prix."
The balloon is set to become a familiar sight in Melbourne's skies over the coming weeks as momentum builds in the lead-up to the Grand Prix.
Residents of regional centres should also keep their eyes out for the monolithic balloon when it visits a range of cities including Geelong, Albury/Wodonga and Ballarat.
Victoria's Minister for Tourism, the Hon. John Pandazopolous has also lent his support to the initiative.
"It's great to see the Australian Grand Prix Corporation leading the way with this worldfirst campaign to promote one of the biggest events on the Victorian major events calendar. Right now, that calendar is the busiest and most exciting in this State's history, which means more tourists and millions of dollars for the local economy. Melbourne will be buzzing come March, with both the Commonwealth Games and the Grand Prix, reinforcing our reputation as Australia's major events capital."The balloon was unveiled in spectacular fashion at Vodafone Arena this morning, with the recently announced ‘Face of Foster's', Kasia Zachwieja, in its basket.
With a propensity for extreme sports, Kasia loves the speed and excitement of Formula One racing. She has travelled the world modelling over the past seven years and at the same time has managed to complete a multimedia degree at Victoria University.
The 2006 FORMULA 1(TM) Foster's Australian Grand Prix takes place at Albert Park from 30 March - 2 April.
well who cares tho right, f1 is f1. 
They must be feeling really really anxious for the Australian GP!
