NASCAR Silicon Motor Speedway's Sixth Revenue Share to Be Featured Attraction of New Burdick Driver's Village

INDIANAPOLIS--Dec. 1, 20035, 2003--State-of-the-art NASCAR Silicon Motor Speedway(TM) racing simulators will be a featured attraction in the new Driver's Village, a consolidation of Burdick auto dealerships in Syracuse, N.Y., when the auto mall's racing center opens in the first quarter of 2004.

William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS), announced a revenue share agreement between NASCAR Silicon Motor Speedway and Burdick Automotive, the Company's sixth revenue share agreement since April of this year. Perfect Line, Inc., a wholly-owned subsidiary of IMTS, owns and operates the unique NASCAR Silicon Motor Speedway racing centers.

Under the terms of the agreement, Burdick will install eight simulators in the racing center to be inside Driver's Village. Scheduled to be fully completed in May of 2004, Driver's Village is located at the site of the former Penn Can Mall and will open with five Burdick-branded auto dealerships. As many as 15 franchise dealerships are expected to be open when complete.

The Burdick family has served Central New York's automotive needs for more than 60 years and now has 20 different franchises and 11 locations in its family of dealerships. Burdick also operates www.burdickcars.com, the premiere Central New York automotive website.

"We believe the NASCAR Silicon Motor Speedway will be a perfect addition to Driver's Village," said Roger Burdick, owner of Burdick Automotive. "The fun, excitement and quality of the simulators will be a major attraction for our customers, and natural partner with our dealerships."

"We greatly appreciate the opportunity to expand the scope of NASCAR Silicon Motor Speedway to Burdick Automotive's Driver's Village," said Donaldson. "Auto malls and auto dealerships around the world provide our business with significant growth potential."

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.

The National Association for Stock Car Auto Racing, NASCAR, is the sanctioning body for one of America's premier sports. With 75 million fans spread throughout the U.S. and ranking second among sports on television and third in licensed product sales, NASCAR has catapulted into the American mainstream. The Passion and brand loyalty of NASCAR fans have attracted many of the best-known brands in America: more Fortune 500 companies are involved in NASCAR than any other sport. Based in Daytona Beach, Fla, with offices in Charlotte, New York and Los Angeles, NASCAR sanctions 1,800 races at 120 tracks in 38 states.

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 & 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 for 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.