good luck, i dont know what mods you have, but sti are not that easy to beat. he could have a bigger turbo or even run more boost with the stock turbo, theres no way for you to know.
hope you are racing at the track, and not on the street, speeding tickets cost a lot of money, not to mention the points on your insurance.
anyway i would check out his car first, then decide how much $$ to race for.
good luck