PARTNERSHIPS WITH COCA-COLA, MBNA AND iN DEMAND BOOST
NASCAR SILICON MOTOR SPEEDWAY RACING CENTERS

INDIANAPOLIS (February 14, 2003) - NASCAR Silicon Motor Speedway has formed marketing partnerships with Coca-Cola, MBNA America and iN DEMAND, it has been announced by William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS). Perfect Line, Inc., a wholly-owned subsidiary of IMTS, owns and operates the unique NASCAR Silicon Motor Speedway mall-based racing centers.

Promotional programs from Coca-Cola North America have been distributed to bottlers throughout the country, along with a resource CD featuring NASCAR Silicon Motor Speedway. Coca-Cola bottlers can use these guidelines to offer special discounts on races and merchandise to their customers at NASCAR Silicon Motor Speedway racing centers.

MBNA America, which offers credit cards to NASCAR fans, and NASCAR Silicon Motor Speedway have entered into an agreement to jointly market products to NASCAR fans and to provide discounts and special offers to these fans.

A year-long, national promotion with the iN DEMAND is being developed for their NASCAR IN CAR package, which is only available on digital cable. For more information, go to www.goincar.com. NASCAR Silicon Motor Speedway recently tested a promotion with cable operators in Los Angeles, leading to the development of a national program. Details will be announced soon.

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 sophisticated proprietary racing simulator technology with an exclusive NASCAR license for location-based entertainment and licenses for popular NASCAR tracks and teams. NASCAR racing is considered the number one spectator sport in America, with an estimated 75 million fans and over $1 billion in NASCAR branded retail merchandise sales.

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For more information on IMTS, please visit our website at 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 & 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 for 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.

Investor Relations:
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Steve Wagoner
(800) 766-2782
InvestorRelations@SMSonline.com

Richard Moyer
Cameron Associates
(212) 554-5466
Richard@CameronAssoc.com