SMI REPORTS FIRST EARNINGS DROP SINCE IPO IN '95

          Speedway Motorsports (SMI) on Tuesday reported its
     "first decrease in annual earnings since the company went
     public" in '95, according to Audrey Williams of the
     CHARLOTTE OBSERVER.  For the year, net income fell 2.2% to
     $41.4M, or $.97 a share, including a "one-time charge"
     related to buying Las Vegas Motor Speedway in '98.  SMI
     earned $43.5M, or $1.02 a share, excluding the charge. 
     Revenue rose 38% in '99 to $317.5M.  SMI President Humpy
     Wheeler, in a conference call with analysts, noted some of
     the difficulties the company faced during the year: "In
     1999, everything that could go wrong, went wrong.  We gave
     you a little warning that our year-end (earnings) would be
     below expectations, and it has been.  But we came out of it
     a little better than we thought."  Wheeler said he is "very
     optimistic" about 2000.  SMI shares were down $.43 yesterday
     to close at $34.56 (CHARLOTTE OBSERVER, 2/16).