SOURCE: Interactive Motorsports & Entertainment Corp.

January 08, 2007 09:00 ET

Interactive Motorsports Concludes Simulator Representation Agreement for South Africa

INDIANAPOLIS, IN -- (MARKET WIRE) -- January 8, 2007 -- Interactive Motorsports and Entertainment Corporation (OTCBB: IMTS) announced today that its wholly owned subsidiary, Perfect Line, Inc., has entered into a Representation Agreement with Brian Sims Sports Management Ltd. for the exclusive marketing and sales rights to the Company's race car simulators within the territory of South Africa. The announcement was made by Chairman and CEO William R. Donaldson.

Brian Sims is widely regarded as one of international motorsport's most successful and experienced sponsorship exponents, personally securing over $75 million of sports sponsorship in the UK, USA and South Africa. With a successful career spanning over 30 years, Brian's accomplishments include founding the Motorsports Industry Association (described by Business F1 magazine as being the second most powerful global motorsports organization), former Commercial Director for the Benetton Grand Prix Team, former Marketing Director of the Lola Grand Prix Team, former Manager of the Kyalami Grand Prix Circuit in South Africa and founder of South Africa's first racing driver's school.

"I am excited by the huge potential that the race car simulators offer budding race drivers in South Africa, particularly within the previously disadvantaged community," commented Sims.

"We are pleased that Brian will be focusing on the development of our simulator sales within the South Africa market, and we believe this relationship will be a model for future representation agreements in other major markets around the globe," said Donaldson.

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Forward-looking statements

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, and the business prospects of Interactive Motorsports and Entertainment Corporation, are subject to a number of risks and uncertainties that may cause the Company's actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, the outlook of the economy and the effect on future revenues, access to and cost of capital, uncertainty of new product development, competition, and dependence on updated technology and licenses and leases.

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