International Speedway Announces Stock Buyback Plan

DAYTONA BEACH, Fla., Dec. 21, 2006 -- International Speedway Corporation today announced that its Board of Directors has authorized a share repurchase program, under which the Company may purchase up to $50 million of the Company's outstanding Class A Common Shares.

"Our decision to repurchase shares is testament to our confidence in ISC's strong financial position and the significant visibility of our future operating results," said ISC Chief Executive Officer James C. France. "Combined with the continued successful execution of strategic initiatives designed to capitalize on both internal and external growth opportunities, we believe our capital allocation strategy reflects a balanced approach that will enhance shareholder value and further position the Company for long-term success."

The timing and amount of any shares repurchased under the program will depend on a variety of factors, including: price, corporate and regulatory requirements, capital availability and other market conditions. The repurchase program may be suspended or discontinued at any time without prior notice. No shares will be knowingly purchased from Company insiders or their affiliates.

International Speedway Corporation is a leading promoter of motorsports activities, 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 percent interest in Raceway Associates, LLC, which owns and operates Chicagoland Speedway and Route 66 Raceway near Chicago, Illinois. In addition, ISC is a limited partner with Group Motorise International in the organization and promotion of certain events at Circuit Gilles Villeneuve in Montreal, Canada.

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." In addition, ISC has an indirect 50 percent interest in a business called Motorsports Authentics, which markets and distributes motorsports-related merchandise licensed by certain competitors in NASCAR racing. For more information, visit the Company's Web site at www.iscmotorsports.com.