MORE THAN 72 MILLION MILES RACED AT NASCAR SILICON MOTOR SPEEDWAY

INDIANAPOLIS (September 18, 2002) - Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS) Chairman and CEO William R. Donaldson announced today that racing enthusiasts have logged more than 72 million miles of simulated NASCAR racing at NASCAR Silicon Motor Speedway racing centers, a distance equal to circling the earth 3000 times.

In addition to high traffic, the NASCAR Silicon Motor Speedway racing centers also enjoy customer loyalty, a well-documented characteristic of NASCAR racing fans. Among repeat visitors to the centers, there are 120 participants who have raced 25,000 miles or more, including Ralph Sheps of New York who has raced for a record 140,000 miles at Palisades Center in West Nyack, New York.

Overall, customers have spent over 400,000 hours in the simulators racing against their friends and colleagues. The top 10 drivers from each location of NASCAR Silicon Motor Speedway have raced a combined total of more than six million miles, according to Donaldson.

Interactive Motorsports and Entertainment Corp., through its wholly owned subsidiary Perfect Line, Inc., owns and operates NASCAR Silicon Motor Speedway racing centers, the largest chain of officially licensed, NASCAR-branded interactive entertainment and retail stores in the world. The company 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 more than $1 billion in NASCAR branded retail merchandise sales.

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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 & 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.

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