Press Release: NASCAR Silicon Motor Speedway Simulators Now Running At NASCAR SpeedPark

NASCAR Silicon Motor Speedway Simulators Now Running At NASCAR SpeedPark





INDIANAPOLIS--April 22, 2003--The new NASCAR Silicon Motor
Speedway (NSMS) attraction at the NASCAR SpeedPark Smoky Mountains opened
this past weekend, signaling the first time that NSMS's proprietary
simulated racing experience has expanded out of the company's own mall-based
Racing Centers.

William R. Donaldson, Chairman and CEO of Interactive Motorsports and
Entertainment Corp. (OTCBB: IMTS), recently announced a revenue share
agreement between NASCAR Silicon Motor Speedway and Burroughs & Chapin
Company of Myrtle Beach, S.C., for the installation of 10 proprietary
simulators at the NASCAR SpeedPark Smoky Mountains and the Myrtle Beach
Pavilion Amusement Park's Ocean Front Arcade. Perfect Line, Inc., a
wholly-owned subsidiary of IMTS, owns and operates the unique NASCAR Silicon
Motor Speedway mall-based Racing Centers.

NASCAR SpeedPark is a pure NASCAR entertainment facility designed to bridge
the gap between go kart family entertainment venues and the professional
NASCAR circuit. NASCAR SpeedPark Smoky Mountains, located in Sevierville,
Tenn., is one of two exclusively licensed NASCAR SpeedParks that provide an
interactive fan attraction that puts the fan in the driver's seat. A third
NASCAR SpeedPark is planned to open this summer at Concord Mills in Concord,
N.C.

Six simulators like those in use at the 12 locations of NASCAR Silicon Motor
Speedway opened this past weekend at the NASCAR SpeedPark Smoky Mountains,
allowing park visitors to enhance their experience by driving in a simulated
NASCAR Winston Cup Series race.

Four simulators will open soon at the Myrtle Beach Pavilion Amusement Park's
Ocean Front Arcade, one of many Myrtle Beach attractions owned and operated
by Burroughs & Chapin Company. Burroughs & Chapin Company is the licensee
for NASCAR SpeedParks and is a privately-held company based in Myrtle Beach,
S.C., that is a leader in the fields of entertainment, recreation, property
development, property management and agriculture. The company's service to
Myrtle Beach and the Grand Strand dates back to the 1860s and includes
shopping developments, golf complexes, recreation and amusement facilities,
retail shopping centers and residential and resort communities.

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 more than $1.5 billion in NASCAR
retail merchandise sales.

For more information on IMTS, visit 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 dependencies 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: 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