New grandstand honoring Richard Petty under construction

Work began earlier this month on the new Richard Petty Terrace at the 1.5-mile superspeedway at Las Vegas Motor Speedway.  Before construction can begin, crews must remove some existing seating and demolish old rest room and concession areas beneath the first-turn grandstands.  The new grandstand will be built in time for the 2006 NASCAR Weekend. The seating capacity for the new structure likely will exceed 14,000.

The grandstand will be named in honor of Richard Petty, the seven-time NASCAR champion. The "Richard Petty Terrace" will feature "flip-down" seats and extra amenities such as dedicated restrooms and concessions and will be located above the current Section 1, adjacent to LVMS's Turn 1.

"The growth of Las Vegas and the demand for tickets at Las Vegas Motor Speedway are remarkably similar," said Chris Powell, LVMS general manager. "Las Vegas is the fastest-growing community in the country. Today¿s announcement reflects that growth as well as the tremendous energy around motorsports here in Southern Nevada."

Powell said the idea of naming the new structure for NASCAR's "King" was a simple one.

"Bruton and I discussed it, and we agreed there was truly only one choice," Powell said of Bruton Smith, chairman of LVMS's parent company, Speedway Motorsports Inc. "There are only two seven-time NASCAR champions, and the addition of the Richard Petty Terrace gives our speedway grandstands named in honor of both of them."

The decision to build additional seating at LVMS comes just a year after the completion of the Dale Earnhardt Terrace. LVMS¿s current capacity stands at 122,000 permanent seats, excluding suites and those watching from motorhome locations.

Las Vegas Motor Speedway is owned and operated by Speedway Motorsports, a leading marketer and promoter of motorsports entertainment in the United States.  In addition to Las Vegas Motor Speedway, the company owns and operates the following premiere speedways: Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Lowe's Motor Speedway and Texas Motor Speedway.  The Company provides souvenir merchandising services through its SMI Properties subsidiary, and manufactures and distributes smaller-scale, modified racing cars through its 600 Racing subsidiary.  The Company also owns Performance Racing Network (PRN) which broadcasts syndicated motorsports programming to more than 725 stations nationwide including XM Satellite and NASCAR.com.  For more information, visit the Company's website at www.gospeedway.com.