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Speedway Motorsports Agrees To Purchase Kentucky Speedway

CHARLOTTE, N.C. (May 22, 2008) – Speedway Motorsports, Inc.
(NYSE:TRK) has agreed to purchase Kentucky Speedway from Kentucky Speedway,
LLC. The agreement was announced today by O. Bruton Smith, founder, chairman
and chief executive officer of Speedway Motorsports, Inc. The acquisition is
expected to close in the third quarter of 2008.

Kentucky Speedway, which opened in 2000, hosts one NASCAR Nationwide
Series event, one NASCAR Craftsman Truck Series event, one IndyCar Series
event and other racing events each year. The speedway is located in Sparta,
Ky., approximately one-half hour south of Cincinnati, Ohio. The speedway is
easily accessible via modern highways.

Located on approximately 820 acres, Kentucky Speedway features a
1.5-mile tri-oval speedway, with chair-back grandstand seating for 66,089
spectators, 50 luxury suites with seats for approximately 2,000, 100 private
RV spaces, 200 reserved camping spaces and 1,000 unreserved camping spaces.
Kentucky Speedway regularly hosts near capacity crowds for its Nationwide
Series events.

“This is a wonderful opportunity for our company to grow into a new
market in a modern speedway facility. We continue to be committed to
investing in the motorsports industry,” said Smith.

Smith added that he has offered Jerry Carroll, who was instrumental
in the development of Kentucky Speedway, the opportunity to remain involved
in its future operations.

Kentucky Speedway will join an outstanding lineup of SMI facilities.

The company also owns and operates Atlanta Motor Speedway; Bristol Motor
Speedway in Bristol, Tenn.; Infineon Raceway in Sonoma, Calif.; Las Vegas
Motor Speedway; Lowe’s Motor Speedway in Concord, N.C.; New Hampshire Motor
Speedway, in Loudon, N.H.; and Texas Motor Speedway in Ft. Worth, Texas.
With this acquisition, the company will own race tracks in the West,
Northeast, Midwest, Southeast and Southwest, including four of the nation’s
top-10 designated market areas.

The breakdown includes: the fifth-largest market (Texas/Dallas-Ft.
Worth); the sixth-largest market (Infineon/San Francisco); the
seventh-largest market (New Hampshire/Boston); the eighth-largest market
(Atlanta); the 25th-largest market (Lowe’s/Charlotte); the 33rd-largest
market (Kentucky/Cincinnati): the 43rd-largest market (Las Vegas); and the
91st-largest market (Bristol/Tri-Cities).

About Speedway Motorsports, Inc.
Speedway Motorsports is a leading marketer and promoter of
motorsports entertainment in the United States. The Company owns and
operates the following premier facilities: Atlanta Motor Speedway, Bristol
Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway, Lowe’s Motor
Speedway, New Hampshire Motor Speedway and Texas Motor Speedway. The
Company provides souvenir merchandising services through its SMI Properties
subsidiaries; manufactures and distributes smaller-scale, modified racing
cars and parts through its 600 Racing subsidiary; and produces and
broadcasts syndicated motorsports programming to radio stations nationwide
through its Performance Racing Network subsidiary. The Company also
equally-owns Motorsports Authentics, a joint venture formed with
International Speedway Corporation to produce, market and sell licensed
motorsports merchandise. For more information, visit the Company’s website
at www.speedwaymotorsports.com.

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