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Speedway Motorsports Closes On $250 Million Credit Facility

3 June 1999

Speedway Motorsports Closes On $250 Million Credit Facility

    CONCORD, N.C., June 2 -- On May 28th Speedway Motorsports
closed on a $250 million Senior Secured Revolving Credit Facility
with a group of financial institutions led by Bank of America.  The Revolving
Credit Facility replaces the Company's existing $270 million short-term bank
facility and bridge loan undertaken in connection with the December 1998
acquisition of Las Vegas Motor Speedway.  The new credit facility matures in
2004 and bears interest at the Company's option, of LIBOR plus 0.5% to 1.25%
or the greater of the prime lending rate of NationsBank N.A. or the Federal
Funds rate plus 0.5%.
    Speedway Motorsports is a leading marketer and promoter of motorsports
entertainment in the United States.  SMI owns and operates the following
premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Lowe's
Motor Speedway at Charlotte, Las Vegas Motor Speedway, Sears Point Raceway and
Texas Motor Speedway. SMI also provides event food, beverage, and souvenir
merchandising services through its Finish Line Event subsidiary, and
manufactures and distributes smaller-scale, modified racing cars through its
600 Racing subsidiary.