DAYTONA BEACH, Fla., May 22 /PRNewswire-FirstCall/ -- International Speedway Corporation (NASDAQ:ISCA)(OTC:ISCB) (BULLETIN BOARD: ISCB) ("ISC") and The Cordish Company ("Cordish") celebrated the official commencement of construction of Daytona Live!, an upscale retail, office and entertainment center for Daytona Beach. Joining in the celebration were: -- James C. France, Chairman, International Speedway Corporation; -- Lesa France Kennedy, President, International Speedway Corporation; -- David S. Cordish, Chairman, The Cordish Company; -- Glenn S. Ritchey, Mayor of Daytona Beach; -- Frank T. Bruno, Jr., Chairman of Volusia County Council "We are creating a new, year-round destination for the region that has taken the dedication and support of city, county and state officials to make a reality," stated Ms. France Kennedy. "Through our cooperative efforts, I am proud to say we will keep ISC, NASCAR and Grand-Am in the Daytona Beach community for the long-term." (Photo: http://www.newscom.com/cgi-bin/prnh/20080522/CLTH110 ) The 71-acre, approximate $437 million development site, located across from the Daytona International Speedway, is being developed by a 50/50 joint venture owned by ISC and Cordish. The development will feature 265,000 square feet of innovative retail, dining and entertainment spaces, a proposed 160- room hotel, residential units, as well as 200,000 square feet of office space which will serve as the world headquarters for ISC, NASCAR and Grand-Am. The state-of-the-art, eight-story, office building is scheduled to be completed in late 2009. The project is pursuing Leadership in Energy and Environmental Design ("LEED") certification for the office building. The certification provides independent, third-party verification that a building is environmentally responsible and a healthy place to work. The retail, dining and entertainment venues are scheduled to open beginning in the first quarter of 2010. Cobb Theaters has recently signed on to anchor Daytona Live!. The 65,000 square foot theater will feature 14 screens featuring digital projection with 3-D capabilities, stadium seating and a loge level providing 350 reserved premium seats, and a full-service restaurant as well as in-seat service for food and beverages. "Daytona Live! will be a true lifestyle project in which the community will gather in a wonderful setting for first class dining, shopping and entertainment," stated Mr. Cordish. "Daytona Live! will spin off enormous new economic development for the area and region." International Speedway Corporation International Speedway Corporation (the "Company") is a leading promoter of motorsports activities, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 13 of the nation's major motorsports entertainment facilities, including Daytona International Speedway(R) in Florida (home of the Daytona 500(R)); Talladega Superspeedway(R) in Alabama; Michigan International Speedway(R) located outside Detroit; Richmond International Raceway(R) in Virginia; Auto Club Speedway of Southern California(SM) near Los Angeles; Kansas Speedway(R) in Kansas City, Kansas; Phoenix International Raceway(R) in Arizona; Chicagoland Speedway(R) and Route 66 Raceway(SM) near Chicago, Illinois; Homestead-Miami Speedway(SM) in Florida; Martinsville Speedway(R) in Virginia; Darlington Raceway(R) in South Carolina; and Watkins Glen International(R) in New York. In addition, ISC is a limited partner with Group Motorise International in the organization and promotion of certain events at Circuit Gilles Villeneuve in Montreal, Canada. The Company also owns and operates MRN(R) Radio, the nation's largest independent sport radio network; the Daytona 500 Experience(SM), the "Ultimate Motorsports Attraction" in Daytona Beach, Florida, the official attraction of NASCAR(R); and Americrown Service Corporation, a subsidiary that provides catering services, food and beverage concessions, and produces and markets motorsports-related merchandise. In addition, ISC has an indirect 50 percent interest in a business called Motorsports Authentics(R), which markets and distributes motorsports-related merchandise licensed by certain competitors in NASCAR racing. For more information, visit the Company's Web site at http://www.iscmotorsports.com/. The Cordish Company The Cordish Company (http://www.cordish.com/), now in its fourth generation of family ownership, is a multi-billion dollar conglomerate including one of the leading real estate development companies in the United States. The company has diverse development expertise with divisions focused on Entertainment & Mixed-Use, Gaming & Lodging, Sports Anchored Districts, Shopping & Lifestyle Retail, Office and Residential. The Cordish Company also owns and manages a diverse group of operating businesses, ranging from restaurants/clubs to live music promotion to film/media distribution. The company values itself on the quality of its operations, its long-term relationships, and high level of integrity in all of its endeavors. The Cordish Company is the largest and most successful developer of entertainment districts and concepts in the United States. In particular, the company has unparalleled experience in creating and revitalizing high-profile destinations in urban core locations. Many of the Cordish Company's projects involve public/private partnerships and are of unique significance to the cities in which they are located. Prime examples are the company's prominent role in the redevelopment of four highly successful projects in Baltimore's world-famous Inner Harbor; Atlantic City, NJ; Hollywood, FL; Charleston, SC; Houston, TX; Louisville, KY; and Tampa, FL. The company currently has over one billion dollars in construction focusing primarily on Sports Anchored Districts. The Cordish Company has received the highest possible national awards in its various areas of expertise. In real estate, the Cordish Company has received an unprecedented six Urban Land Institute Awards of Excellence. 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. http://www.newscom.com/cgi-bin/prnh/20080522/CLTH110 http://photoarchive.ap.org/ DATASOURCE: International Speedway Corporation CONTACT: Wes Harris of International Speedway Corporation, +1-386-947-6465; Joe Weinberg of The Cordish Company, +1-410-752-5444 Web site: http://www.cordish.com/ http://www.iscmotorsports.com/

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