NEW JERSEY MOTORSPORTS PARK TO CONTINUE NORMAL OPERATIONS AND RESUME GROWTH, EXPECTED TO EMERGE FROM BANKRUPTCY IN JULY May 24, 2011 – New Jersey Motor Sports, LLC (“NJMP”), one of the east coast’s premier operators of motorsports activities, is pleased to announce that it has proposed a definite plan to emerge from bankruptcy, following a court hearing scheduled for July 14th in Camden, NJ. At that time, NJMP’s Plan of Reorganization (“Plan”) is expected to be confirmed by the U.S. Bankruptcy Court. This will mark the end of a remarkably quick restructuring process, whereby NJMP filed Ch. 11 bankruptcy on March 7th with an agreement with its secured lender, Merrill Lynch Mortgage Capital, Inc. Pursuant to the Plan, Merrill Lynch is reducing its secured debt from $30.4 to $20 million, and will act as co-sponsor of the Plan, along with NEI Motorsports, LLC (“NEI”), who will pay $2,000,000 to fund certain obligations pursuant to the Plan. In the event this stalking horse $22,500,000 transaction is determined to be the highest and best, NEI will be a majority owner of NJMP upon bankruptcy emergence and Merrill Lynch will hold a minority interest, along with its $20,000,000 restructured secured loan. NEI’s shareholders include some of NJMP’s shareholders. As with all transactions that seek a bankruptcy court’s approval, NEI’s and Merrill Lynch’s proposal is subject to higher and better cash offers with a minimum of $23 million. As such, Brownstein Corporation, NJMP’s court-approved Financial Advisor, will be sending out solicitations via email and mail to determine whether there might be potentially interested parties with better terms than the “Stalking Horse bid” that NEI and Merrill Lynch are offering. There are specific bidding procedures to which any other potentially interested parties must adhere, which are available from NJMP or Brownstein Corporation. Importantly, the Plan will not affect the longstanding and valuable relationships NJMP has established with its members, patrons and sponsors, nor will there be any material changes in the company’s operations, including its scheduled events, the Drivers Club, Shade Tree Garages, Breighton Villas, hospitality suites, sponsorships, or other aspects of its operations. NJMP is looking forward to successfully completing its restructuring in the coming weeks, and resuming its growth plans for serving the east coast motorsports community.