CHAMPCAR/CART: Michigan International Speedway and CART FedEx announce 2001 last race

CART, Michigan International Speedway Announce Champ Car Appearances at Speedway to End After 2001 Race

DETROIT (June 25, 2001) -- Championship Auto Racing Teams and Michigan International Speedway (MIS) today jointly announced that the CART FedEx Championship Series will not return to race at the 2-mile oval during the 2002 racing season.

The announcement was made by CART Chairman/CEO Joseph Heitzler and MIS President Brett Shelton.

"The future holds many exciting opportunities for CART and we look forward to the continued growth of our racing, both domestically and around the world," said Heitzler. "Each race we consider must make business sense for us, our shareholders and investors and our race promoter. In this instance, it was determined that it is in the best interest of our race series to look at other alternatives."

CART also runs its Champ Cars at California Speedway, which, like MIS, is owned by International Speedway Corporation.

"ISC is a very important CART partner and we are committed to extending our relationship to conduct our race events at ISC tracks where we believe we can achieve mutual success," said Heitzler of the motor racing organization that owns 12 major motorsports facilities throughout the U.S. "We have a terrific event at California Speedway which we are committed to through 2004 and look to take our racing to other ISC facilities in the future."

Shelton said the Speedway and ISC have examined the options and believe it is in their best interest to pursue other alternatives.

"The CART races at Michigan International Speedway have provided our fans with some terrific racing over the years," said Shelton. "And although this is a difficult decision, we believe it is in the best interest of both CART and ISC's long-term growth strategies."

The Michigan 500 Presented by Toyota this coming July 22 marks the 33rd CART event at Michigan International Speedway.

"CART is an important partner of ISC's and we will continue to work together on the event at California Speedway," said ISC Sr. Vice President John Saunders. "In addition, we look forward to pursuing other significant opportunities with CART that are consistent with our long term business philosophies."

Championship Auto Racing Teams, Inc. (NYSE: MPH) owns, operates and markets the FedEx Championship Series. The series visits seven countries and four continents during the season and climaxes with the season-ending Marlboro 500 Presented by Toyota on Sunday, Nov. 4 at California Speedway in Fontana, Calif. Thanks to a partnership among Marlboro, Toyota, CART and California Speedway, the winner of the season finale will collect $1 million, one of the largest paydays in all of motorsports. An additional $1 million, as well as the prestigious Vanderbilt Cup, will be awarded to the driver who wins the FedEx Championship Series title.

Champions Michael Andretti, Gil de Ferran, Alex Zanardi and Jimmy Vasser are among the drivers who battle for the FedEx Championship Series title on oval circuits as well as temporary and permanent road courses. CART also owns and operates its top two development series, the Dayton Indy Lights Championship and the Toyota Atlantic Championship. Learn more about CART's open-wheel racing series at www.cart.com.

MIS is owned by International Speedway Corporation, a leading promoter of motorsports activities in the United States, currently promoting more than 100 events annually. The company owns and/or operates 12 major motorsports facilities, including Daytona International Speedway in Florida (home of the Daytona 500): Talladega Superspeedway in Alabama; California Speedway near Los Angeles, California; Homestead-Miami Speedway in Florida; Kansas Speedway in Kansas City, Kansas; Phoenix International Raceway in Arizona; Richmond International Raceway in Virginia, Darlington Raceway in South Carolina; North Carolina Speedway in Rockingham, North Carolina; Watkins Glen International in New York; and Nazareth Speedway in Pennsylvania. Other track interests include the operation of Tucson (Arizona) Raceway Park and an indirect 37.5 percent interest in Raceway Associates, LLC, which owns the Route 66 Raceway and Chicagoland Speedway in 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, and the official attraction of NASCAR; Americrown Service Corporation, a provider of catering services, food and beverage concessions, and merchandise sales; and Motorsports International, a producer and marketer of motorsports-related merchandise. For more information, visit the Company's website at www.iscmotorsports.com.

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