International Speedway Corporation and KB Marine Sign Agreement for Sale of Staten Island Property

International Speedway Corporation and KB Marine Sign Agreement for Sale of
Staten Island Property

DAYTONA BEACH, Fla., Nov. 12 /PRNewswire-FirstCall/ -- International Speedway
Corporation (Nasdaq Global Select Market: ISCA; OTC Bulletin Board: ISCB)
("ISC") today announced that it entered into a definitive agreement (the
"Agreement") to sell its 676-acre parcel of property located in Staten Island,
New York, to KB Marine Holdings LLC ("KB Marine"). The Agreement contemplates
KB Marine's purchase of 100 percent of the outstanding equity membership
interests of 380 Development LLC ("380 Development"), a wholly owned indirect
subsidiary of ISC and owner of the Staten Island property, for a total sales
price of $80 million. The agreement also calls for the transaction to close
no later than February 25, 2010; the closing would be subject to certain
conditions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091005/FL87045LOGO )

Upon execution of the Agreement, ISC received a $1 million initial payment,
which is non-refundable subject to limited conditions of ISC performance. KB
Marine has the opportunity to receive a $5 million credit to the sales price
if the closing date occurs on or before December 31, 2009.

"We are very pleased to announce the execution of this agreement as it has
been our intention to find a buyer interested in redeveloping this site to its
highest and best use, which would be for port-related and logistic
activities," said Brian K. Wilson, ISC's Vice President of Corporate
Development. "KB Marine plans to do exactly that, which will benefit economic
development and job creation in Staten Island, New York City and the region as
a whole. We look forward to KB Marine completing its due diligence process,
securing the required equity commitments to acquire the property and closing
the transaction in the next few months."

The Company expects the proceeds from the sale, net of applicable broker
commissions and other closing costs to be consistent with its current carrying
value, resulting in an immaterial gain or loss on the transaction upon
closing. From a tax perspective, ISC expects to realize a current cash tax
benefit of approximately $39 million to $42 million in fiscal 2010 as a result
of the impairments previously taken to reduce the carrying value to its
estimated fair value. The Company recognized impairments of approximately $85
million in its fiscal 2006 fourth quarter results related to the Company's
decision to discontinue its speedway development efforts on Staten Island, and
approximately $13 million in its fiscal 2009 third quarter results to adjust
its then current carrying value of its property to fair market value. Total
net proceeds including the tax benefit will provide the Company approximately
$110 million to $115 million in incremental cash flow.

International Speedway Corporation 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(®) in Florida (home of the Daytona
500(®)); Talladega Superspeedway(®) in Alabama; Michigan International
Speedway(®) located outside Detroit; Richmond International Raceway(®) in
Virginia; Auto Club Speedway of Southern California(SM) near Los Angeles;
Kansas Speedway(®) in Kansas City, Kansas; Phoenix International Raceway(®) in
Arizona; Chicagoland Speedway(®) and Route 66 Raceway(SM) near Chicago,
Illinois; Homestead-Miami Speedway(SM) in Florida; Martinsville Speedway(®)
in Virginia; Darlington Raceway(®) in South Carolina; and Watkins Glen
International(®) in New York. In addition, ISC promotes major motorsports
activities in Montreal, Quebec, through its wholly owned subsidiary, Stock-Car
Montreal.

The Company also owns and operates MRN(®) Radio, the nation's largest
independent sports radio network; the Daytona 500 Experience(SM), the
"Ultimate Motorsports Attraction" in Daytona Beach, Florida, and official
attraction of NASCAR(®); and Americrown Service Corporation(SM), 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 Motorsports Authentics(®), which markets and
distributes motorsports-related merchandise licensed by certain competitors in
NASCAR racing. For more information, visit the Company's Web site at
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

Charles N. Talbert of International Speedway Corporation, +1-386-681-4281; or
Alan Marcus of The Marcus Group, +1-973-890-9590, for KB Marine Holdings LLC