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Playstation 2 - The Italian Job cheats

Unlock all cars in circuit races
Reach ranking of A in every race.
or
Hold L1 and press Square, X, X, Up, Down, Up, Down in the main menu.

Access all stunt tracks
You must complete each track to unlock subsequent tracks until all of 
them are unlocked. 

Bonus extras
Finish story mode to unlock concept art and credits.

Unlock extra options
Win all circuit races