Speedway Motorsports Initiates Annual Dividend Policy And Declares $0.30 Cash Dividend

CONCORD, N.C., Oct. 7, 2002 Speedway Motorsports, Inc. today announced the introduction of a cash dividend policy with an initial annual dividend of $0.30 per share of common stock.

The annual dividend will be payable on Nov. 14, 2002 to shareholders of record as of Oct. 31, 2002.

The Board of Directors of the motorsports entertainment company unanimously decided to implement the dividend policy after reviewing the market for the Company's stock, current business conditions, and future prospects of the Company.

"Speedway Motorsports has grown steadily during the past seven years," stated O. Bruton Smith, chairman and chief executive officer of Speedway Motorsports (SMI). "With more than one-third of our revenues coming from long-term contractual commitments, the predictability of our business has increased. We believe we can add significant value and provide excellent returns for our stockholders by issuing an annual dividend."

"Our balance sheet has strengthened over the past 24 months as we have prudently managed our cash, redeemed our convertible securities and decreased our other debt," explained William R. Brooks, chief financial officer of SMI. "Our cash flows from operations exceed anticipated capital expenditures and debt service. The total amount of the dividend should approximate $12.7 million."

Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the United States. The Company owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway, Lowe's Motor Speedway and Texas Motor Speedway. The Company provides souvenir merchandise services through its SMI Properties subsidiary and manufactures and distributes smaller-scale, modified race cars through its 600 Racing subsidiary. The Company also owns Performance Racing Network which broadcasts syndicated motorsports programming to more than 750 stations nationwide. For more information visit the Company's Website at www.gospeedway.com .