IMTS PLEASED WITH BUSINESS MODEL RESTRUCTURING

INDIANAPOLIS (April 15, 2004) - Interactive Motorsports and Entertainment Corporation (OTCBB:IMTS) Chairman and CEO William R. Donaldson released today the "new look" of the company under its business model restructuring plan that began in July of 2003.

"The Company's business model has changed from a mall-based, owned and operated structure to a focus on revenue share locations, mobile leases and equipment sales", stated Donaldson. "The new model eliminates the burden of occupancy and labor costs and reduces the financial risk significantly", added Donaldson.

Locations Company Owned: (Total of 24 Simulators)

	Location	Market	Sq. Ft.	Simulators
1.	Mall of America	Minneapolis, MN	5,899	12 racecars
2.	Universal CityWalk	Los Angeles, CA	5,000	12 racecars

Revenue Share: (Total of 125 Simulators)

	Location	Market	Sq. Ft.	Simulators
1.	Opry Mills	Nashville, TN	6,007	12 racecars
2.	Woodfield	Chicago, IL	6,111	12 racecars
3.	Palisades Center	Nyack, NY	5,700	12 racecars
4.	Concord Mills	Charlotte, NC	7,865	14 racecars
5.	Mall of Georgia	Atlanta, GA	5,895	12 racecars
6.	Katy Mills	Houston, TX	6,172	12 racecars
7.	Riverchase Galleria	Birmingham, AL	6,188	10 racecars
8.	NASCAR SpeedPark	Sevierville, TN	1,584	6 racecars
9.	Pavilion Ocean Front	Myrtle Beach, SC	2,600	5 racecars
10.	RiverTown Crossing	Grand Rapids, MI	6,100	8 racecars
11.	Cowboy Pizza	Monterey, CA	968	4 racecars
12.	NASCAR SpeedPark	St. Louis, MO	1,496	6 racecars
13.	Burdick Driver's Village(1)	Syracuse, NY	3,472	8 racecars
14.	Playcenter(2)	Sao Paulo, Brazil	1,000	4 racecars

(1) Scheduled to open in May, 2004
(2) Scheduled to open in July, 2004

Mobile Units: (Total of 8 Simulators)

1.	Nextel Mobile Experience	2003-05 NASCAR Nextel Cup Series Events	6 racecars
2.	Nextel Mini Mobile Experience	Various markets	2 racecars

Sales of Simulators#: (Total of 28 Simulators)

Buyer	Market	Simulators
1.	Roltex	Moscow, Russian Federation	8 racecars
2.	Yello Properties	London, United Kingdom	12 racecars
3.	Tonne Mgmt	Wisconsin Dells, WI	4 racecars
4.	I-Vision Technologies	Abu Dhabi, UAE	4 racecars

# Installations of the above simulators range from the summer of 2004 to first quarter of 2005

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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
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