EX-99 5 k103003.htm

                             

                                                                                        FOR:   International Speedway Corporation
                                                                     APPROVED BY:   Wes Harris
                                                                                                   Director of Investor Relations
                                                                                                   (386) 947-6465

FOR IMMEDIATE RELEASE                                               

INTERNATIONAL SPEEDWAY ANNOUNCES CART CHAMP CAR AND NASCAR WINSTON WEST SERIES EVENTS OFFICIALLY CANCELLED AT CALIFORNIA SPEEDWAY

DAYTONA BEACH, FLORIDA – October 30, 2003 – International Speedway Corporation (“ISC”) (Nasdaq/NM: ISCA; OTC Bulletin Board: ISCB) announced The King Taco 500
Bridgestone Presents the CART Champ Car World Series Powered by Ford and the NASCAR Winston West Series King Taco 200 have been officially cancelled.  These events, originally scheduled to take place November 1st and 2nd at California Speedway, had been previously postponed due to the state of emergency declared in San Bernardino County, California, and surrounding counties as a result of wildfires in the region.

The Company expects the cancellation to negatively impact fourth quarter total revenue and earnings by $4 million to $5 million and $0.01 to $0.02 per diluted share, respectively.  In addition, fourth quarter results will be further impacted by a mutually agreeable amount to cover legitimate expenses reasonably incurred by CART in preparing for the event.  This undetermined amount will be deducted from the $2.5 million pre-tax organization and rights fee due back to ISC, which had been previously paid to CART per the terms specified in the official organizer/promoter agreement. 

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 12 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; North Carolina Speedway in Rockingham; Darlington Raceway in South Carolina; Watkins Glen International in New York; and Nazareth Speedway in Pennsylvania.  Other track interests include 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 networks; 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 www.iscmotorsports.com.

###