Rolex Watch U.S.A. has become the title sponsor of The Monterey Historic Automobile Races, the country's premier historic and vintage motor racing event. The multi-year arrangement was announced in January by Walter Fischer, president of Rolex U.S.A. The prestigious racing event will be retitled The Rolex Monterey Historic Automobile Races Presented by DaimlerChrysler. The next series will be held Aug. 17-19 at Laguna Seca Raceway, near California's Monterey Peninsula. A Rolex award will be presented to outstanding performers in each of 14 races, and Rolex timepieces will be presented to the Monterey Cup winner. The 28-year-old, world-renowned event draws some 65,000 spectators and features many famous automobile makers and cars.