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Facility Naming Rights Another 'First' for Speedway Motorsports

10 February 1999

Facility Naming Rights Another 'First' for Speedway Motorsports

    CONCORD, N.C., Feb. 9 -- With today's announcement that
Charlotte Motor Speedway has been renamed Lowe's Motor Speedway, Speedway
Motorsports continues its leadership role in innovative
motorsports marketing and facility management.
    The $35 million, 10-year naming rights and sponsorship agreement between
Speedway Motorsports and Lowe's Home Improvement Warehouse is the first of its
kind at a major motorsports facility.
    "The new trend in sports marketing has been selling naming rights at
various venues," said 0. Bruton Smith, Chairman & CEO of Speedway Motorsports.
"I think it is significant for us to be first in the motorsports industry to
do this.  We will continue to find ways to be innovative in motorsports
marketing and facility management."
    Smith said negotiations are on-going for naming rights at other SMI
facilities.
    Other "firsts" for the company include constructing 64-seat corporate VIP
suites at a speedway (Charlotte); building luxury condominiums at a
motorsports facility (Charlotte, 1982); construction of an exclusive Speedway
Club (Charlotte, 1988); lighting the first superspeedway (Charlotte, 1992);
and the first motorsports company to be traded on the New York Stock Exchange
(SMI, 1995).
    "We have been exploring the naming rights concept for a couple of years
and we turned the wick up a couple of months ago to get it done," said H.A.
"Humpy" Wheeler, President and COO of SMI.  "Marcus Smith, who is our manager
of new business development, worked closely with our agency to get the job
done.  As his boss, I'm pleased with his performance.  I'm sure Bruton, as his
dad, is very proud."
    Speedway Motorsports is a leading marketer and promoter of motorsports
entertainment in the United States.  SMI owns and operates the following
premiere facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Las Vegas
Motor Speedway, Lowe's Motor Speedway (Concord, N.C.), Sears Point Raceway and
Texas motor Speedway.  SMI also provides event food, beverage, and souvenir
merchandising services through its Finish Line Events subsidiary, and
manufactures and distributes smaller-scale, modified racing cars through its
600 Racing subsidiary.