State Committee Hosts Work Session on Motorsports and Multi-Use Recreational Facility for Kitsap County

SEATTLE, May 31, 2006 -- Great Western Sports, Inc. ("GWS"), a subsidiary of International Speedway Corporation ("ISC"), will present its proposal for a major tourism and economic development project for Washington at a work session hosted by Lieutenant Governor Brad Owen and the Legislative Committee on Economic Development & International Relations (LCEDIR). The meeting will be held today, Wednesday, May 31, 2006, at 2:30 p.m. at the Port of Seattle headquarters located at 2711 Alaskan Way in Seattle.

The LCEDIR, which is chaired by Lieutenant Governor Owen, studies and reviews economic development issues including international trade, tourism, investment and industrial development. The hearing will provide an opportunity for GWS and experts who helped design the plan to explain the details to legislators in an open setting, and to answer questions from committee members. Also speaking at the hearing will be panelists representing local and statewide elected officials, citizen groups, economic development and business interests, as well as experts from the Governor's Office of Financial Management and officials from the states of Kansas and Arizona, home to two ISC-owned and operated racetracks.

"We look forward to discussing the merits of our project, including the significant economic benefits, out-of-state tourism and community-use opportunities," said GWS Senior Vice President Grant Lynch. "We are committed to working with local citizens and economic development experts to design a project in Kitsap County that fits into the greater vision of the region, and that will benefit both the local communities and the state as a whole."

GWS plans for the facility to be made available for multi-use purposes during periods when major racing events are not being held, as currently occurs at other facilities in the ISC family. In addition, GWS continues to analyze necessary infrastructure improvements, transportation solutions and facility design, landscaping and greenery and environmental considerations. The project will be designed to meet or surpass all local, state and federal environmental regulations.

GWS has committed to paying $166 million -- nearly half -- of the $345 million total construction costs plus any cost overruns and future maintenance and upgrades to the facility. Finance experts will be present at the committee work session to further explain the finance model, particularly how it will generate the necessary revenue without creating new or raising existing taxes, and without impacting the state's general fund.

Over 50 local organizations have endorsed the development of the facility including the Kitsap County Economic Development Council, the Economic Development Council of Mason County, the Pierce County Economic Development Board, the Washington State Labor Council, the City of Bremerton Arts Commission and the Bremerton-Olympic Peninsula Council of the Navy League, among others. GWS has also launched an extensive outreach effort to directly address concerns of local residents and provide additional information about the project, as well as about Great Western Sports and International Speedway Corporation. The "Back the Track Night" held at the Tacoma Dome earlier this year attracted 5,200 supporters.

For more information on GWS's efforts to bring world-class racing to Washington, visit www.race2wa.com.

Great Western Sports is a wholly-owned subsidiary of International Speedway Corporation, a leading promoter of motorsports activities in the United States, currently promoting more than 100 events annually as well as numerous other motorsports-related activities.