PRESS RELEASE

Charlotte Motor Speedway To Host IRL Event

Charlotte Motor Speedway To Host Indy Racing League Event

    CONCORD, N.C., Dec. 18 -- Auto racing's geographic
evolution will come full circle Saturday night, July 26, 1997, when
the Indy Racing League ventures south into NASCAR stock car racing's
heartland for a race at Charlotte Motor Speedway, according to details
announced today by speedway president H.A. "Humpy" Wheeler.

    Paying a purse of $1 million, the inaugural night-time event will
be a 500k (310.5-mile) race, which is 207 laps around the 1.5-mile
superspeedway.  The historic race will occur nearly three years after
NASCAR Winston Cup cars raced at the Indianapolis Motor Speedway for
the first time.

    Wheeler was joined by Speedway Motorsports, Inc. Chairman
O. Bruton Smith, Indianapolis Motor Speedway President and IRL founder
Tony George, IRL Executive Director Leo Mehl and 1990 Indianapolis 500
winner Arie Luyendyk at the historic press conference.

    "Many people said stock cars would never race at the Indianapolis
Motor Speedway, and look at the popularity of that event," said
Wheeler, standing next to Luyendyk's new Treadway Racing
G. Force/Aurora Indy car.  "Now, we are preparing to do something many
of those same people said would never happen, and this race will be a
success!  It will prove to be `One Cool Night' of racing."

    In September, driver John Paul, Jr. drove a `95 Lola Indy car
chassis powered by a Menard V6 engine during a three-hour test session
at Charlotte Motor Speedway.  Driving the Team Menard car, Paul
recorded a fast lap of 26.01 seconds (207.61 mph), which unofficially
broke the Charlotte Motor Speedway's all-time track record.

    At that test, Team Menard mechanics reduced downforce and rolled
the power back in the powerful Menard V6 engine in an attempt to
simulate the performance characteristics of the new IRL formula.  Paul
said driving the Indy car around Charlotte was "a blast" and that the
car felt comfortable all over the race track.

    "After the test in September with the older Indy car, I was mildly
optimistic about the chances of having an IRL race here at Charlotte
Motor Speedway," said Wheeler.  "But after continuing to talk with
Tony (George) and seeing the direction he is taking Indy-style racing,
I am honestly excited for this race.  We feel this event and our
company's Texas IRL race will help the series grow."

    The inaugural IRL race at Charlotte will be the second IRL race at
an SMI- owned track in 1997 and the second IRL race to be run at
night.

    "Texas Motor Speedway has been a part of the IRL's `97 schedule
for a few months," said Smith.  "Now, I am very proud we are adding
Charlotte to that schedule.  I think race fans are going to be
pleasantly surprised Saturday night, July 26," said Smith.

    "Bringing the Indy Racing League to the Charlotte Motor Speedway
is yet another milestone in the young history of the league," said
George.  "The management here at Charlotte has long had the reputation
for being one of the best promoters in the business, and we are
excited about bringing our teams and their new equipment to this
venue."

    Speedway officials are planning a full week of activities in
conjunction with its inaugural IRL event.  Tuesday night, July 22,
will be a practice night, with pole qualifying taking place on
Wednesday night, July 23.  Support events will be added to the
schedule and announced when those plans are finalized.

    Grandstand tickets for the inaugural IRL race will start at $20,
while Clubhouse Suite tickets will sell for $90.  Wheeler said most
frontstretch grandstand seats will be sold for $45.  Tickets, which go
on sale this week, may be purchased at the speedway ticket office or
by calling (707)445-3200.

CONTACT: Jerry Gappens or Ron Green, Charlotte Motor Speedway,
704-455-3209