Riverside Motorsports Park update 2005-08-08

RIVERSIDE MOTORSPORTS PARK EIR COMPLETED Company Prepares for Build Development Phase ATWATER, CALIF., August 8, 2005--Riverside Motorsports Park, LLC announces that the project's administrative draft Environmental ...

RIVERSIDE MOTORSPORTS PARK EIR COMPLETED
Company Prepares for Build Development Phase

ATWATER, CALIF., August 8, 2005--Riverside Motorsports Park, LLC announces that the project's administrative draft Environmental Impact Report (EIR) has been completed and delivered to the Merced County Planning Department (Merced, Calif.). With this milestone completed, the company has reorganized its management team, preparing for the next phase in its development of a world-class motorsports and family recreation center. John Condren, project Founder and Chief Executive Officer, is now President and CEO. Mike Yurick, President and General Manager since 2003, has accepted the position of Executive Consultant with the company, while assuming a full-time operations position with California Speedway, Fontana, Calif.

Other management changes include the appointment of John Nolind, currently Vice President of Operations, to the position of Executive Vice President. Mark Melville, currently Director of Special Services, has accepted the position of Vice President of Operations. In addition, the Company has created the new position of Vice President of Competition, and plans to announce appointments to this, as well as other senior management positions, within the next quarter.

Commenting on the reorganization, John Condren said, "To date, Riverside Motorsports Park has been engaged in various aspects of design, engineering and operational planning, as well as assisting Merced County over the last two years with third-party research and analysis toward the completion of the requirements of the State of California's Environmental Impact Report (EIR) process. Upon certification of the EIR by Merced County, the next step will be construction which we look forward to starting before the end of the year.

"Throughout Riverside Motorsports Park's initial planning and design efforts, Mike Yurick has provided invaluable assistance. His motorsports facility and operations knowledge is among the best in the industry. Mike and the entire management team feel that, together, we have aligned the company for the upcoming 18-month construction phase. Riverside Motorsports Park and our construction team, including the Fluor Corporation, Granite Construction Company, Rex Moore Electric and Golden Valley Engineering, have been eagerly looking forward to starting construction for some time now."

Mike Yurick added, "Riverside Motorsports Park promises to be the best motorsports facility in all of California and the Western United States. For me, it has been an exciting and gratifying experience to work on a world-class project, such as this, from a clean piece of paper, and to get the project to the point of being ready to build. I know that Riverside Motorsports Park will be a tremendous success, and, especially in the light of recent track closing announcements, fill a tremendous void within California's motorsports community. It has a first-class management team and one of the best operational strategies I've ever had the privilege to contribute to. I look forward to continuing my relationship with Riverside Motorsports Park as a consultant."

The administrative draft of the Environmental Impact Report for the development of Riverside Motorsports Park was completed under contract by Sacramento-based EDAW, Inc., and submitted to the Merced County Planning Department on July 7. Merced County, as the lead agency, will initiate a 45-day public review of the EIR after they have completed their internal review. This will be followed by a vote of the Merced County Planning Commission and Board of Supervisors for EIR certification and project approval.

-www.RMPracing.com

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Series AUTOMOTIVE