Speedway Motorsports Statement in Response to NASCAR Statement Regarding Ferko Lawsuit

CONCORD, N.C., Oct. 25, 2002; Speedway Motorsports, Inc. issued the following in response to a statement by the National Association of Stock Car Auto Racing (NASCAR) regarding a court filing this week by SMI on the Ferko lawsuit:

Our attorneys have advised us that we should not comment on this pending litigation. This matter will be resolved in the Federal Court in Sherman, Texas. SMI has been named as a nominal defendant in this derivative action because it was brought by one of SMI's stockholders. SMI was required to respond to the complaint with an answer.

In its answer to the Ferko complaint, SMI was required by the court to verify or contradict the claims made by the plaintiff. In its response, SMI agreed with items in the Ferko filing that are factually accurate and contradicted those items that are not accurate. SMI strongly believes that Texas Motor Speedway deserves a second NASCAR Winston Cup Series point race. In our opinion, the statements made in the answer are true and we believe they will ultimately be affirmed in federal court.

We believe it is important to point out that SMI has, throughout its history, worked for the best interests of NASCAR stock car racing, its fans, and motorsports in general. SMI's record of fan friendly policies speaks for itself. We have dedicated ourselves to providing premiere facilities with the most modern fan amenities. Texas Motor Speedway has consistently drawn sold- out crowds to its NASCAR Winston Cup Series events evidencing the enthusiasm for motorsports in the Texas market and for Texas Motor Speedway in particular.