BRISTOL MOTOR SPEEDWAY ADDED TO
NASCAR SILICON MOTOR SPEEDWAY SIMULATORS;

BRISTOL CHALLENGE CONTEST BEGINS

INDIANAPOLIS (October 18, 2002) - For many years, events at Bristol (Tenn.) Motor Speedway have been among the most exciting and popular on the NASCAR Winston Cup Series. Now, through the magic of state-of-the-art computer simulation, race fans can race on Bristol at NASCAR Silicon Motor Speedway Racing Center locations throughout America.

"We've listened to our customers," said 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.

"The addition of Bristol to our simulators is in response to the many requests we have had from our customers," Donaldson said. "This is the first of what will be more new additions to the simulated race experience in the months to come."

In conjunction with the launch of the new Bristol racing, NASCAR Silicon Motor Speedway locations are also launching the "Bristol Challenge" to determine a national championship among simulator drivers. The competition, which will continue through Nov. 15, will offer special prizes that include cash awards, trips to a "finals" competition in Charlotte, N.C., NASCAR Silicon Motor Speedway Jackets and gift certificates and a Richard Petty "Rookie" Driving Experience. Further details are available at the racing centers or online right here at www.SMSonline.com.

Visitors to NASCAR Silicon Motor Speedway locations can begin racing on Bristol on Monday, Oct. 21. The racing centers also currently feature Atlanta Motor Speedway, Daytona International Speedway, Richmond International Raceway and Lowe's Motor Speedway on the simulators.

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 web site 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.

Contact:
Interactive Motorsports and Entertainment Corp.
Comments@SMSonline.com

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

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