Damon Hill has announced his retirement from Formula One as of the end of the 1999 season.

Former World Champion Hill, now driving for the Jordan team, has had so far a rather poor season, and having celebrated his 38th birthday some months ago, his retirement was thought to be just a matter of time.

In a personal statement released today, Hill said: "After much reflection I have decided not to continue racing in Formula One after the end of the 1999 season. Despite being a late starter to Formula One, at the age of 32, I am very proud of my record of having won 22 grands prix and the world championship itself. Formula One has afforded me many incredible opportunities and I will cherish some fantastic memories. I have fulfilled my ambitions and consider myself very fortunate to have done so. I would like to thank all those who had to work with me, from the caterers to the team owners. You survived, well done!

"I would especially like to thank my wife, Georgie, who has had the greatest burden to bear. I love you. And to my loyal fans - you were incredible throughout. An enormous thanks to you all. We showed 'em."