International Speedway Corporation Reports Results for the First Quarter of Fiscal 2009

DAYTONA BEACH, Fla., April 7, 2009: International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) ("ISC") today reported results for the fiscal first quarter ended February 28, 2009.

"While pleased with the level of excitement and competition on the track as well as the fans' avid support of NASCAR, we are not immune to the broader macroeconomic challenges facing all businesses," said ISC President Lesa France Kennedy. "We are addressing these challenges on a number of fronts. Most notably, we are making it more affordable for our fans to attend our events by reducing ticket prices, providing value-added opportunities to enhance the guest experience, and working with community partners to further reduce the overall cost of attending a race. Also, given the close scrutiny that is being placed on marketing budgets, we have escalated our efforts to provide our corporate partners with innovative marketing solutions that deliver a clearly measurable return on investment."

Ms. France Kennedy continued, "On the expense side, we are aggressively managing our controllable expenses to scale the events appropriately without detrimentally impacting the experience for our fans. We have also undertaken a company-wide initiative to reduce pricing and, when appropriate, scope of services with vendors and suppliers. All of these cost control measures are designed to ensure that our business remains strong and continues to generate substantial cash flow. Lastly, we are maintaining a solid capital structure that allows us to weather any short-term volatility while providing us the flexibility to capitalize on potential opportunities that will increase shareholder value."

First Quarter Comparison

Total revenues for the first quarter decreased to $166.1 million, compared to revenues of $193.9 million in the prior-year period. Operating income was $50.0 million during the period compared to $66.9 million in the first quarter of fiscal 2008. In addition to the macroeconomic challenges, quarter-over-quarter comparability was impacted by:

  --  Exceptionally strong consumer and corporate demand for the 50th
      running of the Daytona 500 and surrounding events in the first quarter
      of 2008.  The historic race provided unique opportunities to drive
      revenue above the otherwise strong appeal of one of sport's most
      marquee events.

  --  The 2008 first quarter also included a non-cash charge of $3.8
      million, or $0.07 per diluted share after tax, to correct the carrying
      value of certain other assets as of November 30, 2007.  In addition,
      the first quarter of 2008 included an impairment charge of $0.7
      million, or $0.01 per diluted share after tax, related to charges for
      the fill removal process on the Company's Staten Island property and,
      to a lesser extent, the net book value of certain assets retired from
      service.

  --  The first quarter of 2009 included a $1.6 million, or $0.03 per
      diluted share after tax, charge for equity in net loss from equity
      investments related to Motorsports Authentics, LLC ("MA"), the
      Company's motorsports-related merchandise 50/50 joint venture with
      Speedway Motorsports Inc.  The 2008 first quarter included equity
      income of $1.1 million, or $0.02 per diluted share after tax, due to
      the strong product sales primarily associated with a new team, car
      number and sponsor for Dale Earnhardt, Jr., NASCAR's most significant
      licensee.  In addition, merchandise sales from the 50th running of the
      Daytona 500 drove strong results for the prior year period.

Net income was $25.1 million, or $0.52 per diluted share, compared to net income of $36.2 million, or $0.71 per diluted share, in the prior year. Excluding the aforementioned correction of certain other assets' carrying value amounts; impairment charges; operating results from the Company's equity investment; and, accelerated depreciation of $0.5 million, or $0.01 per diluted share after tax, for certain office and related buildings in Daytona Beach associated with the Company's previously announced Daytona Live! project (the 2008 first quarter also included similar accelerated depreciation charges), non-GAAP (defined below) net income for the first quarter of 2009 was $27.2 million, or $0.56 per diluted share. Non-GAAP net income for the first quarter of 2008 was $39.7 million, or $0.78 per diluted share.