Dover Motorsports, Inc. Subsidiary in Negotiations With Respect to Grand Prix of Denver

DOVER, Del., March 19 -- Dover Motorsports, Inc. today announced that the previously announced agreement between its wholly owned subsidiary, Grand Prix Association of Long Beach, Inc. ("Grand Prix") and Centrix Financial, LLC ("Centrix") to transfer to Centrix certain assets and rights that Grand Prix has relative to the organization and promotion of the Grand Prix of Denver was terminated by Centrix.

"Our original transaction with Centrix did not close," said Denis McGlynn, President of Dover Motorsports, Inc., parent company of Grand Prix. "However, Centrix has announced its intent to work together with Open Wheel Racing Series, LLC ("OWRS"), the successor to CART, Inc. and owner of the Champ Car series. OWRS, in turn, has expressed an interest in acquiring from us certain assets and rights to the event and is working on a transaction that would allow the event to continue under new ownership with Centrix continuing as the title sponsor."

Dover Motorsports, Inc. is a leading promoter of motorsports events in the United States. Its motorsports subsidiaries operate five motorsports tracks (four permanent facilities and one temporary circuits) in four states and promote motorsports events under the auspices of four of the premier sanctioning bodies in motorsports - NASCAR, IRL, CART 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.