International Speedway Announces Significant Capital Projects at Homestead-Miami Speedway And Phoenix International Raceway

International Speedway Announces Significant Capital Projects at Homestead-Miami Speedway And Phoenix International Raceway

~ Company Reiterates Fiscal 2005 Financial Guidance ~

DAYTONA BEACH, Fla., April 22 /PRNewswire-FirstCall/ -- International Speedway Corporation (NASDAQ:ISCA) (BULLETIN BOARD: ISCB) ("ISC") today announced the construction of grandstand seats and luxury suites at Homestead- Miami Speedway and Phoenix International Raceway. In addition, the Company reaffirmed its quarterly and full year fiscal 2005 revenue and earnings guidance.

At Homestead-Miami, the new Turn One Tower will house 16 luxury suites and approximately 800 club seats. The project, scheduled for completion in time for the 2005 Ford Championship Weekend in November, will provide fans and corporate hospitality guests with state-of-the-art amenities to enjoy the thrill and excitement of all three NASCAR series finales. In Phoenix, the Bobby Allison grandstand will be expanded to encompass the entire area behind Turn 1, adding approximately 14,000 grandstand seats and 25 to 28 luxury suites, and will replace a structure that currently houses 22 suites. The project also calls for the removal of temporary wooden bleachers of approximately 14,000 seats along the backstretch of the track and Turn 3. The expanded grandstand and suite area will provide fans with outstanding views of the frontstretch and pit road, and will be completed in time for Phoenix's 2006 spring NASCAR NEXTEL Cup Series weekend.

ISC reiterates its fiscal 2005 capital spending guidance of approximately $100 million for its existing facilities. In addition, the Company reaffirms its previous quarterly and full year fiscal 2005 financial guidance, including full year revenues between $715 and $730 million, and earnings between $2.87 and $2.93 per diluted share.

"These projects demonstrate the growing popularity of our facilities and the strong customer demand in these markets," commented Lesa France Kennedy, President of ISC. "The increased capacity at Homestead-Miami is a result of the growing popularity of that facility's events. In addition, the seat and suite improvements at Phoenix further demonstrate our commitment to enhancing the guest experience by providing premium fan amenities. While we maintain our prudent approach to internal expansion by closely tying growth to demand, we believe strong prospects remain for future organic growth within our portfolio. We are confident that our internal prospects, combined with our external initiatives, position us for ongoing future success."

International Speedway Corporation is a leading promoter of motorsports activities in the United States, currently promoting more than 100 events annually. The Company owns and/or operates 11 of the nation's major motorsports 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; Watkins Glen International in New York. Other track ownership includes an indirect 37.5% interest in Raceway Associates, LLC, which owns and operates Chicagoland Speedway and Route 66 Raceway near Chicago, Illinois.

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." For more information, visit the Company's Web site at http://www.iscmotorsports.com/ .

Statements made in this release that express the Company's or management's beliefs or expectations and which are not historical facts or which are applied prospectively are forward-looking statements. It is important to note that the Company's actual results could differ materially from those contained in or implied by such forward-looking statements. The Company's results could be impacted by risk factors, including, but not limited to, weather surrounding racing events, government regulations, economic conditions, consumer and corporate spending, military actions, air travel and national or local catastrophic events. Additional information concerning factors that could cause actual results to differ materially from those in the forward- looking statements is contained from time to time in the Company's SEC filings including, but not limited to, the 10-K and subsequent 10-Qs. Copies of those filings are available from the Company and the SEC. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be needed to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by International Speedway or any other person that the events or circumstances described in such statement are material.

Source: International Speedway Corporation

CONTACT: Wes Harris, Senior Director, Investor Relations, International Speedway Corporation, +1-386-947-6465

Web site: http://www.iscmotorsports.com/

------- Profile: Ent