International Speedway Enters Into Definitive Agreement to Sell Nazareth Speedway Real Property

~ Expects to Record $6 to $7 Million After-Tax Gain on Sale ~

DAYTONA BEACH, Fla., June 1 -- International Speedway Corporation (BULLETIN BOARD: ISCB) ("ISC") announced today that Pennsylvania International Raceway, Inc., an indirect wholly-owned subsidiary of ISC, has entered into an agreement with Brookside Realty, Inc. ("Brookside") for the sale of 158 acres on which Nazareth Speedway is located for approximately $19 million. Upon closing the transaction, ISC expects to record an after-tax gain from discontinued operations of approximately $6 to $7 million, or $0.11 to $0.13 per diluted share after tax.

Closing of the transaction is expected no later than November 30, 2005, and is contingent upon, among other items, Brookside's right to terminate the agreement if it determines that timely and financially reasonable governmental approval of its proposed redevelopment of the real property is either unlikely or not feasible.

Located in Lower Nazareth Township in Northampton County, Nazareth Speedway suspended major motorsports event operations after the completion of the track's 2004 events and its results of operations are presented as discontinued operations in ISC's consolidated financial statements. Beginning with the 2005 race season, Nazareth's NASCAR Busch and IRL IndyCar series events were realigned to ISC's Watkins Glen International.

International Speedway Corporation is a leading promoter of motorsports activities in the United States, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 11 of the nation's major motorsports entertainment 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; Martinsville Speedway in Virginia; Darlington Raceway in South Carolina; and Watkins Glen International in New York. Other motorsports entertainment facility ownership includes 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/ .