Toyota are sticking with their blend of experience and youth Team profile: Toyota Driver profile: Panis Driver profile: Da Matta

Frenchman Panis, 37 in September, is the oldest driver in Formula One while Da Matta, the 2002 Cart champion, is in his rookie season.

Jacques Villeneuve, the 1997 world champion, and Germany's Nick Heidfeld had been linked with a move to Toyota, but Tuesday's announcement has quashed further speculation.

"I am pleased to confirm that both Olivier and Cristiano will drive with Panasonic Toyota Racing for the 2004 season," said Toyota team principal Ove Andersson.

"They have both performed very well throughout this season and have played an integral role in developing the TF103 race car."

Panis (fifth) and Da Matta (sixth) both finished in the points at the German Grand Prix on Sunday - the first time that has happened this season.