Speedway Motorsports to Benefit Significantly From Landmark NASCAR Ancillary Rights Package

    CONCORD, N.C., Feb. 1 Speedway Motorsports
today announced a significant estimated economic impact on its earnings from
the NASCAR Broadcast Ancillary Rights Package, ("Ancillary Rights Package").
    "We recently met with NASCAR and were given the details on the Ancillary
Rights Package which totals more than $245 million over a 12-year period and
includes a profit participation aspect not included on this estimate," stated
H.A. "Humpy" Wheeler, chief operating officer and president of Speedway
Motorsports.
    The Ancillary Rights Package includes NASCAR.com, the NASCAR Channel,
NASCAR International Broadcast Rights, Satellite Radio Broadcast, NASCAR
Images, SportsVision, FanScan and pay per view telecasts.
    During 2001, the first year of the consolidated broadcast package, the
industry shall receive approximately $8.5 million in Ancillary Rights fees.
This amount will grow at an average rate of 35 percent during the period 2001-
2006.  Ancillary Rights fees in 2006 should approximate $38 million.
    "This is a great step forward for NASCAR," said Wheeler.  "I'm proud of
the work they have done with these negotiations.  As long as they can keep the
track competition exciting, we will all benefit from this historic package."
    In February 1999, Speedway Motorsports announced it would join with NASCAR
in a historic alliance in which NASCAR would negotiate the broadcast package
for the entire Winston Cup Series and Busch Series, Grand National Division
events.  In the past, officials at each racing venue individually negotiated
broadcast rights fees.  NASCAR announced in late 1999 that FOX Sports, FX
Networks, NBC Sports and Turner Sports had contracted for the NASCAR Winston
Cup Series and Busch Series Grand National Division domestic broadcast rights.
These rights are valued at $2.4 billion over a six-year period.
    The total net domestic television broadcast revenue to the industry could
approximate $257 million in 2001, with annual increases averaging 17 percent
from 2001-2006.  Total NASCAR broadcast revenues to Speedway Motorsports
including domestic and Ancillary Rights should approximate $68 million in
2001, representing a $38 million increase over 2000.  Those revenues shall be
distributed 10 percent to NASCAR, 25 percent to the race teams and 65 percent
to Speedway Motorsports.
    Speedway Motorsports is a leading marketer and promoter of motorsports
entertainment in the United States.  SMI owns and operates Atlanta Motor
Speedway, Bristol Motor Speedway, Lowe's Motor Speedway, Las Vegas Motor
Speedway, Sears Point Raceway and Texas Motor Speedway.  SMI also provides
event food, beverage and souvenir merchandising services through its Finish
Line Events subsidiary, and manufactures and distributes smaller-scale,
modified racing cars through its 600 Racing subsidiary.  The Company also owns
Performance Racing Network which broadcasts motorsports programming to over
500 stations nationwide.
    This news release contains forward-looking statements with regard to SMI's
growth potential, future operations and financial results based on statements
made to SMI's management by NASCAR representatives.  There are many factors
that affect future events and trends of business.  These factors, and other
factors set forth in the Company's filings with the Securities and Exchange
Commission, involve certain risks and uncertainties that could cause actual
results or events to differ materially from management's views and
expectations.