Dover Motorsports, Inc. Declares Quarterly Dividend

DOVER, Del., Oct. 23, 2002; Dover Motorsports, Inc. Board of Directors today declared a quarterly cash dividend on both classes of common stock of $.01 per share. This represents a reduction in the dividend rate from the previous $.02 per share. The dividend will be payable on December 10, 2002 to shareholders of record at the close of business on November 10, 2002.

Dover Motorsports, Inc. is a leading promoter of motorsports events in the United States. Its motorsports subsidiaries operate seven motorsports tracks (four permanent facilities and three temporary circuits) in six states and promote motorsports events under the auspices of four of the premier sanctioning bodies in motorsports - NASCAR, CART, IRL AND NHRA. The Company owns and operates Dover International Speedway in Dover, Delaware; Nashville Superspeedway near Nashville, Tennessee; Gateway International Raceway near St. Louis, Missouri; and Memphis Motorsports Park near Memphis, Tennessee. It also organizes and promotes the Toyota Grand Prix of Long Beach in California, the Shell Grand Prix of Denver in Colorado and the Grand Prix of St. Petersburg in Florida.