Montgomery Securities Initiates Coverage of Speedway Motorsports, Inc. — NYSE: TRK — with a BUY Rating

Business Wire, Feb 2, 1996

SAN FRANCISCO--(BUSINESS WIRE)--Feb. 2, 1996--Montgomery Securities Analyst Bo Cheadle has initiated coverage of Speedway Motorsports, Inc. (NYSE: TRK) with a BUY rating.

Cheadle expects the company to earn $1.20 per share in Fiscal Year (December) 1996 and $1.80 per share in Fiscal Year 1997. His target price is approximately $50, or 61% above current levels.

Speedway Motorsports is a promoter of automobile racing, the fastest-growing major spectator sport in the U.S. The company generates revenues from admissions, concessions and the selling of broadcasting and advertising rights at its speedways, as well as from selling all of the cars and most of the parts for the Legends Race Car circuit.

Cheadle believes that Speedway Motorsports is an excellent vehicle to invest in the rapid growth of motorsports, an activity which draws dedicated male and female fans from all economic groups. He believes that the company's strategy of building and acquiring more tracks, especially in areas with no major track facilities, is an integral part of Speedway's growth.

CONTACT: Montgomery Securities

Bo Cheadle, 415/627-2609

Elizabeth Snowdon, 415/627-2747

esnowdon@montgomery.com