NASCAR
SILICON MOTOR SPEEDWAY RENEWS LICENSE AGREEMENT WITH SPEEDWAY MOTORSPORTS,
INC.,
FOR RACE TRACK SIMULATORS
INDIANAPOLIS
(August 7, 2003) - NASCAR
Silicon Motor Speedway and Speedway
Motorsports, Inc., (SMI) have renewed a licensing agreement
that will permit simulated NASCAR Winston Cup Series racing on SMI-owned
race tracks at NASCAR Silicon Motor Speedway locations for the next
four years.
William R. Donaldson, Chairman and CEO of Interactive Motorsports and
Entertainment Corp. (OTCBB:IMTS),
announced that SMI has agreed to the continued use of its properties
in the NASCAR Silicon Motor Speedway racing centers through the end
of 2007. Perfect Line, Inc., a wholly-owned subsidiary of IMTS, owns
and operates NASCAR Silicon Motor Speedway.
SMI properties currently featured at NASCAR Silicon Motor Speedway locations
are Bristol
Motor Speedway, Atlanta
Motor Speedway and Lowe's
Motor Speedway. Perfect Line plans to develop several more
SMI tracks during the term of the license.
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.
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.
About Speedway Motorsports,
Inc.
Debuting on Wall
Street in February, 1995, Speedway Motorsports, Inc., (NYSE:TRK) became
the first motorsports company to be publicly traded on the New York
Stock Exchange. Founded and managed by O. Bruton Smith, chief executive
officer and chairman of the board, Speedway Motorsports is a leading
marketer and promoter of motorsports entertainment in the United States.
The Company has one of the largest total permanent speedway seating
capacities in the motorsports industry.
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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 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.
Contact:
Steve Wagoner, InvestorRelations@SMSonline.com
(800) 766-2782
Investor Relations on the web: http://www.SMSonline.com/company/inv_rel_index.asp
