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International Speedway Corp Announces Offering of Common Shares

2 July 1998

International Speedway Corporation Announces Offering of 4,000,000 Class A Common Shares At $27 Per Share

    DAYTONA BEACH, Fla.--July 2, 1998--International Speedway Corporation , a leading promoter of motorsports activities, announced today that its public offering of 4,000,000 shares of Class A Common Stock has been priced at $27 per share and declared effective. In addition to the 4,000,000 shares being offered by the Company, International Speedway granted the underwriters a 30-day overallotment option to purchase up to an additional 600,000 Class A Common Shares. The Company intends to use the net proceeds of the offering to fund the Company's estimated investment in the proposed Kansas International Speedway, as well as a portion of the completion of additions and improvements to the Company's existing motorsports facilities.
    The offering is being led by Salomon Smith Barney and co-managed by CIBC Oppenheimer and Raymond James & Associates, Inc. A copy of the final prospectus may be obtained from: Salomon Smith Barney, 333 West 34th Street, New York, New York 10001.
    International Speedway Corporation is a leading promoter of motorsports activities in the United States, currently promoting more than 80 events annually. The Company owns and/or operates five premier motorsports facilities, including Daytona International Speedway in Florida (home of the Daytona 500), Talladega Superspeedway in Alabama, Phoenix International Raceway in Arizona, Darlington Raceway in South Carolina and Watkins Glen International in New York. Other track interests include the operation of Tucson (AZ) Raceway Park, a 45% stake in Metro-Dade Homestead Motorsports Complex, and an approximate 11% holding in Penske Motorsports, Inc. . The Company also owns and operates MRN Radio, the nation's largest independent sports radio network, and DAYTONA USA, the award-winning "Ultimate Motorsports Attraction" in Daytona Beach, FL.