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INTERACTIVE MOTORSPORTS REAPS BENEFITS FROM IAAPA SHOWINDIANAPOLIS (January 12, 2006) – Interactive Motorsports and Entertainment Corporation (OTCBB:IMTS) announced today that its wholly-owned subsidiary, Perfect Line, has secured contracts and advances for 18 simulators, including 8 new SMS Reactor simulators, since the International Association of Amusement Parks and Attractions (IAAPA) convention in November of 2005. The announcement came from William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corporation.Four of the new SMS Reactor simulators are scheduled to debut within a mobile experience at Daytona Beach, Florida in February. Another four Reactor simulators have been ordered by Burroughs and Chapin for installation in its NASCAR SpeedParks. A total of ten of the original simulators have been purchased for installation in entertainment complexes, four in Brainerd, Minnesota and six in Kissimmee, Florida. In addition to the IAAPA orders, three original simulators were installed under a revenue share agreement within the new Bass Pro Outdoor store in Clarksville, Indiana in November. -30- For more information on IMTS, visit www.SMSonline.com Forward-looking statements Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, and the business prospects of Interactive Motorsports and Entertainment Corporation, are subject to a number of risks and uncertainties that may cause the Company's actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, the outlook of the economy and the effect on future revenues, access to and cost of capital, uncertainty of new product development, competition, and dependencies on updated technology and licenses and leases. Contact: Steve Wagoner (800) 766-2782 Investor Relations on the Web
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