NASCAR Silicon Motor Speedway Simulators to be Featured Attraction of Mobile Nextel Experience

NASCAR SILICON MOTOR SPEEDWAY™ SIMULATORS TO BE FEATURED ATTRACTION OF MOBILE "NEXTEL EXPERIENCE"

INDIANAPOLIS (January 30, 2004) - NASCAR Silicon Motor Speedway's state-of-the-art racing simulators have been chosen as the featured attraction of The Nextel Experience, a 6,400 square-foot interactive fan exhibit that will greet NASCAR fans at all 36 NASCAR NEXTEL Cup Series events in 2004, it was announced by William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS).

Six NASCAR Silicon Motor Speedway simulators will be installed inside two large mobile trailers, and fans will get an opportunity, courtesy of Nextel, to take part in a three-minute driving experience in either driver, passenger or spotter positions. Perfect Line, Inc., a wholly-owned subsidiary of IMTS, owns and operates the unique NASCAR Silicon Motor Speedway racing centers.

Other features within The Nextel Experience include the NASCAR History Wall, Technology Pit, Media Broadcast Stage and Photo Opportunity.

"Thanks to Nextel, NASCAR fans and industry colleagues will have an opportunity to experience our proprietary motion-based technology, and the thrill of virtually driving a NASCAR NEXTEL Cup Series race car on the most popular race tracks in America," said Donaldson.
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Perfect Line's NASCAR Silicon Motor Speedway racing centers are the largest chain of officially-licensed, NASCAR-branded interactive entertainment stores in the world, and offers its customers the most popular NASCAR merchandise available. Perfect Line has integrated proprietary racing simulator technology with an exclusive NASCAR license for location-based entertainment and licenses for popular NASCAR tracks and teams.

The National Association for Stock Car Auto Racing, NASCAR, is the sanctioning body for one of America's premier sports. With 75 million fans spread throughout the U.S. and ranking second among sports on television and third in licensed product sales, NASCAR has catapulted into the American mainstream. The Passion and brand loyalty of NASCAR fans have attracted many of the best known brands in America: more Fortune 500 companies are involved in NASCAR than any other sport. Based in Daytona Beach, Fla, with offices in Charlotte, New York and Los Angeles, NASCAR sanctions 1,800 races at 120 tracks in 38 states.

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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 dependence on updated technology and licenses and leases.