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International Speedway Corporation and Unified Government Approves Development Agreement

18 December 1997

      

    KANSAS CITY, Kan. (Dec. 17, 1997) -- International Speedway Corporation
(ISC) announced today that its Board of Directors and the Unified
Government of Wyandofte County, Kansas City, KS, have unanimously approved
the development agreement for a 1.5-mile oval motor speedway in Western
Kansas City, KS. The facility will be developed through International
Speedway Corporation's wholly-owned subsidiary, Kansas International
Speedway Corporation. Major terms of the agreement were previously
announced on Dec. 11,1997.

    Jim France, president and chief operating officer of ISC stated, "We
are thrilled to receive the official green light for the next phase of this
exciting project. The unanimous 10-0 vote by the Unified Board of
Commissioners confirms our belief that the local community is supportive
and enthusiastic about the project, and recognizes that this motorsports
facility will provide long-term benefits for the community.

    "While there are still a number of steps to be performed, including
acquiring the necessary land, soliciting bids for construction and
solidifying financing for the project, we are optimistic that these can be
accomplished in time to break ground by mid 1998."

    International Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting over 70 events
annually. The company owns and or operates five premier motorsports
facilities, including Daytona International Speedway in Daytona Beach, FL,
(home of "The Great American Race" the Daytona 500), Talladega (AL)
Superspeedway, Phoenix (AZ) International Raceway, Darlington (S.C.)
Raceway and Watkins Glen (N.Y.) International.

    Other track interests include the operation of Tucson (AZ) Raceway
Park, a 40-percent stake the Metro-Dade (FL) Homestead Motorsports Complex,
an approximate 11 percent holding in Penske Motorsports, Inc, and a
seven-percent interest in Grand Prix Association of Long Reach (CA).

    International Speedway Corporation owns and operates MRN Radio. the
nation's largest independent sports radio network, as well as DAYTONA USA,
"The Ultimate Motorsports Attraction," in Daytona Beach, FL.


 Mike Snow - The Auto Channel