NASCAR SELECTS CHARLOTTE AS HOME OF NASCAR HALL OF FAME

DAYTONA BEACH, Fla. (March 6, 2006) – The National Association for Stock Car Auto Racing (NASCAR) today announced that it has selected Charlotte, N.C., to be the home of its Hall of Fame. The NASCAR Hall of Fame, which will be a state of the art facility capturing the spirit of the sport, will honor the NASCAR icons and create an enduring tribute to the drivers, crew members, team owners and others that have impacted the sport in the past, present and yet to come.

“To NASCAR fans everywhere, it is my distinct honor to announce that NASCAR has selected Charlotte, N.C., to be the home of the NASCAR Hall of Fame,” said NASCAR Chairman and CEO Brian France.

“The winners in this process are the 75 million NASCAR fans nationwide, who will have a Hall of Fame to call their own. The City of Charlotte will welcome fans from around the country and even the world to the NASCAR Hall of Fame,” said France.

Charlotte’s proposal best achieves NASCAR’s overriding goal to have one of the premier hall of fames in the world of sports and entertainment. The region’s rich racing history and heritage along with the strength of the city’s overall financial structure for the Hall, represents the best fit for NASCAR, the industry and the fan-base.

The Hall is expected to include exhibit space, a Great Hall, a Hall of Honor, interactive entertainment restaurants, retail outlets, and a state-of-the-art media center for the industry.

The NASCAR Hall of Fame will be a special place that brings NASCAR’s history to life and preserves that history in the appropriate environments. The new facility will allow longtime fans to have the opportunity to relive NASCAR’s greatest moments and for new fans to learn about them.

“Our goal has been – and continues to be – to create one of the “crown jewels” of Charlotte and the very best Hall of Fame-themed entertainment experience in the world,” said Charlotte Mayor Pat McCrory. “This Hall of Fame will expand the dynamic and growing sport of NASCAR racing in a dynamic and growing city. It’s a victory not only for the entire region, but for NASCAR fans across the country and internationally. We look forward to welcoming all fans for a unique and entertaining experience.”

Mayor McCrory credits the regional effort and broad-based support from the business community, elected officials, the hospitality and tourism industry and NASCAR fans who supported this effort. Mayor McCrory specifically cited the strong leadership from his fellow “Crew Chiefs,” including Cathy Bessant of Bank of America; Luther Cochrane of BEK Building Group, as well as John Tate of Wachovia and Tim Newman of the Charlotte Regional Visitors Authority.

The Hall of Fame, which will be located in Charlotte’s Center City will be developed, designed, and operated by the City of Charlotte and the Charlotte Regional Visitors Authority. The total cost of the Hall of Fame is estimated at $107.5 million. This will primarily be funded by a new two percent hotel/motel tax and contributions from the State of North Carolina and the private sector.

The Hall of Fame, which will be open no later than spring of 2010, has been designed and concept by world renowned architecture firm, Pei Cobb Freed & Partners. The firm has designed iconic buildings in cities worldwide, including the Javits Convention Center in New York City, the expanded Louvre in Paris, the Rock and Roll Hall of Fame in Cleveland and the U.S. Holocaust Memorial Museum in Washington, D.C.

Charlotte is the hub of the NASCAR industry. Currently 82 percent of NASCAR NEXTEL Cup teams, 72 percent of NASCAR Busch Series teams and 55 percent of NASCAR Craftsman Truck teams are based in the Charlotte region. The industry’s current annual statewide economic impact is estimated to be $5 billion.