PRESS RELEASE: NASCAR DRIVERS SADLER, NADEAU GIVE THUMBS UP TO INDIANAPOLIS MOTOR SPEEDWAY SIMULATION AT NASCAR SILICON MOTOR SPEEDWAY

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NASCAR DRIVERS SADLER, NADEAU GIVE THUMBS UP TO INDIANAPOLIS MOTOR SPEEDWAY
SIMULATION AT NASCAR SILICON MOTOR SPEEDWAY

             INDIANAPOLIS (January 28, 2003) - NASCAR Winston Cup Series
drivers Elliott Sadler and Jerry Nadeau have each given an enthusiastic
"thumbs up" to the new Indianapolis Motor Speedway simulation that will soon
debut at NASCAR Silicon Motor Speedway locations.

            Sadler and Nadeau recently tried out the Indianapolis racing
simulation, which will open to the public at NASCAR Silicon Motor Speedway's
12 locations on Feb. 2, according to William R. Donaldson, Chairman and CEO
of Interactive Motorsports and Entertainment Corp.  (OTCBB:IMTS). Perfect
Line, Inc., a wholly-owned subsidiary of IMTS, owns and operates the unique
NASCAR Silicon Motor Speedway mall-based racing centers.


 Sadler and executives of M&M/Mars, which will sponsor him as he moves to
Robert Yates Racing in 2003, visited the Concord Mills Mall location of
NASCAR Silicon Motor Speedway, located near Charlotte, N.C. After Sadler and
the executives raced against each other on some of the other NASCAR Winston
Cup tracks available on the simulators, store managers rolled out a private
test of the new Indianapolis simulation. Sadler, as he had done on the other
tracks, took the checkered flag in simulated races at the Brickyard.

adler and executives of M&M/Mars, which will sponsor him as he moves to
Robert Yates Racing in 2003, vis

"That's good!" said Sadler after finishing the simulated race on the
2.5-mile Indianapolis Motor Speedway oval, noting the need to brake in turns
one and three just as he does when racing at the famous track. "If you
over-brake in those turns, you lose valuable position. Two and four (in the
simulator) are right on the money because no braking is needed there."


 NASCAR Silicon Motor Speedway has plans to enter into a promotional
agreement with M&M/Mars for 2003.

 Nadeau, who drove for Petty Enterprises in the 2002 season, also visited
the Concord Mills location and was given a private test of the Indianapolis
simulation. "The simulation is incredible," said Nadeau, a former race
winner in NASCAR Winston Cup competition. "I almost felt that I could learn
something that would help me in the next Brickyard 400."

             In conjunction with the launch of simulated racing at
Indianapolis on February 2, NASCAR Silicon Motor Speedway locations
throughout the United States will participate in the "Brickyard Challenge"
promotion. For the special price of $19.95, customers will be able to
compete in two races on the Brickyard and will also receive a Brickyard
Challenge t-shirt.

             The racing centers also currently feature Atlanta Motor
Speedway, Daytona International Speedway, Lowe's Motor Speedway and Richmond
International Raceway on the simulators. Bristol Motor Speedway was added in
October.

Perfect Line's NASCAR Silicon Motor Speedway racing centers are the largest
chain of officially licensed, NASCAR-branded interactive entertainment
stores in the world, and offers its customers the most popular NASCAR
merchandise available. Perfect Line has integrated sophisticated proprietary
racing simulator technology with an exclusive NASCAR license for
location-based entertainment and licenses for popular NASCAR tracks and
teams. NASCAR racing is considered the number one spectator sport in
America, with an estimated 75 million fans and over $1 billion in NASCAR
branded retail merchandise sales.

-30-

For more information on IMTS, please visit our website at www.SMSonline.com

Forward-looking statements
Except for historical information contained herein, the statements in this
Press Release are forward-looking statements that are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements, and the business prospects of Interactive
Motorsports and Entertainment Corporation, are subject to a number of risks
and uncertainties that may cause the Company's actual results in future
periods to differ materially from the forward-looking statements. These
risks and uncertainties include, among other things, the outlook of the
economy and the effect on future revenues, access to and cost of capital,
uncertainty of new product development, competition, and dependence on
updated technology and licenses and leases.

Contact:
Steve Wagoner,  (800) 766-2782, InvestorRelations@SMSonline.com
Richard Moyer, Cameron Associates (212) 554-5466; Richard@CameronAssoc.com
Investor Relations on the web:
http://www.SMSonline.com/company/inv_rel_index.asp




NASCAR Silicon Motor Speedway

A Subsidiary of interactive Motorsports and Entertainment Corporation
(OTCBB: IMTS)

Corporate Office: 5624 West 73rd Street * Indianapolis, IN 46278 * P:
317.295.3500 * F: 317.298.8924

www.SMSonline.com