International Speedway Announces Approval of Ferko/Vaughn Settlement Agreement, Completes Sale Of North Carolina Speedway

DAYTONA BEACH, Fla., July 1, 2004 -- International Speedway Corporation announced the District Court for the Eastern District of Texas, Sherman Division today approved the settlement agreement in the Ferko/Vaughn litigation ("Settlement Agreement") dated April 8, 2004. In addition, the sale of the assets of North Carolina Speedway to Speedway Motorsports, Inc. for $100.4 million has closed.

Separately, the Company stated its previously announced acquisition of Martinsville Speedway is expected to close by the middle of this month.

International Speedway Corporation is a leading promoter of motorsports activities in the United States, currently promoting more than 100 events annually. The Company owns and/or operates 11 of the nation's major motorsports facilities, including Daytona International Speedway in Florida (home of the Daytona 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond International Raceway in Virginia; California Speedway near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Darlington Raceway in South Carolina; Watkins Glen International in New York; and Nazareth Speedway in Pennsylvania. Other track interests include an indirect 37.5% interest in Raceway Associates, LLC, which owns and operates Chicagoland Speedway and Route 66 Raceway near Chicago, Illinois.

The Company also owns and operates MRN Radio, the nation's largest independent sports radio network; DAYTONA USA, the "Ultimate Motorsports Attraction" in Daytona Beach, Florida, the official attraction of NASCAR; and subsidiaries which provide catering services, food and beverage concessions, and produce and market motorsports-related merchandise under the trade name "Americrown." For more information, visit the Company's Web site at http://www.iscmotorsports.com/.