PENSKE TO GO PUBLIC TO RAISE CASH FOR CALIFORNIA SPEEDWAY

     Roger Penske will take his motorsports business public in a
$51M IPO he hopes will help him build a "superspeedway" 40 miles
West of L.A., according to this morning's DETROIT NEWS.  Penske
filed Monday with the SEC to sell 3.25 million shares of Penske
Motorsports at a maximum of $18 a share.  The date of the sale
has not been set.  Penske owns 84% of the company's outstanding
shares; the sale will reduce that stake to 50%.  Penske posted
net income of $6.8M in revenues of $42.1M last year.  The
speedway, scheduled for completion in '97, will seat 68,000 with
71 suites, 55 chalets and 12 pavilions (Dave Phillips, DETROIT
NEWS, 1/30).