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CART, California Speedway Announce FedEx Championship Series to Return to Fontana Through 2004

2 November 1999

CART, California Speedway Announce FedEx Championship Series to Return to Fontana Through 2004 
    FONTANA, Calif., Nov. 1 -- Championship Auto Racing Teams,
Inc., and California Speedway announced on Friday, Oct. 29 they have reached
agreement to continue conducting CART FedEx Championship Series Champ Car
events at the Southern California facility through 2004.
    The announcement was made by Andrew Craig, CART's chairman and CEO, and
Scott Atherton, president of California Speedway, as CART's Champ Car teams
prepared for Sunday's final race of the season, the Marlboro 500 Presented by
Toyota.
    "We are very pleased to be able to come to terms to return to this
wonderful facility," said Craig.  "Southern California is a big supporter of
the FedEx Championship Series.  To be able to end our season here with an
exciting 500-mile race is the perfect conclusion to our season.  Scott and his
staff do an excellent job of promoting our race and we could not be more
pleased than to be returning to California Speedway for a minimum of five more
seasons."

    Financial terms of the agreement were not disclosed.
    CART first raced at the circuit in 1997 and, during that event, Brazilian
Mauricio Gugelmin established the world's closed-course, single-lap speed
record -- 240.942 miles per hour in his PacWest Mercedes -- on the two-mile
oval.  Mark Blundell won the inaugural race.  Last year, Jimmy Vasser won
$1 million a race-ending shootout over Greg Moore and Alex Zanardi.  Sunday's
race is a showdown for the FedEx Championship Series title and the PPG Cup
between Dario Franchitti and Juan Montoya.  The race winner again will take
home $1 million and another $1 million is on the line for the winner of the
series championship.
    "Our CART weekend is one that has quickly become a favorite of race fans
throughout the southwest part of the country," said Atherton.  "Plus, we see a
growing number of international fans attending our race each year and that is
pleasing to us as well.  The Champ Cars put on a wonderful show and we look
forward to building this race weekend into an even larger and more exciting
event for the 100,000-plus guests who attend."

    International Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100 events
annually.  The Company currently owns and/or operates 10 major motorsports
facilities, including Daytona International Speedway in Florida (home of the
Daytona 500): Talladega Superspeedway in Alabama; Michigan Speedway in
Brooklyn, Michigan; California Speedway in San Bernardino County, California;
Homestead-Miami Speedway in Florida; Phoenix International Raceway in Arizona;
Darlington Raceway in South Carolina; North Carolina Speedway in Rockingham,
North Carolina; Watkins Glen International in New York, and Nazareth Speedway
in Pennsylvania.
    Other track interests include the operation of Tucson (Arizona) Raceway
Park and an indirect 37.5 % interest in Raceway Associates, LLC, which owns
the route 66 Raceway and is developing a superspeedway in the Chicagoland
area.
    The Company also owns and operates MRN Radio, the nation's largest
independent sports radio network; DAYTONA USA, the "Ultimate Motorsports
Attraction" in Daytona Beach, Florida, and the official attraction of NASCAR;
Americrown Service Corporation, a provider of catering services, food and
beverage concessions, and merchandise sales; Motorsports International, a
producer and marketer of motorsports-related merchandise; and Competition
Tire, which distributes and sells Goodyear brand racing tires in the Midwest
and Southeast regions of the United States.
    For more information, visit the Company's website at
http://www.iscmotorsports.com.

    Championship Auto Racing Teams, Inc owns, operates and markets
the FedEx Championship Series, which is comprised of 20 races in five
countries on four continents in 1999.  Drivers such as Michael Andretti, Jimmy
Vasser, Al Unser Jr., Dario Franchitti and Juan Montoya race 900-horsepower,
open-wheel Champ Cars at speeds of more than 230 miles per hour on some
circuits.  CART also owns and operates its top two development series, the
PPG-Dayton Indy Lights Championship and the KOOL/Toyota Atlantic Championship.
Learn more about CART's open-wheel racing series at http://www.cart.com.