DEVELOPERS SEEK COUNTY APPROVAL FOR ROAD RACE COURSE

SALISBURY, NC (February 22, 2005) - Property owner Dave Risdon and 
business partner Frank McGuire today announced plans to request from the 
Rowan County Board of Commissioners a conditional use permit to 
construct a road racing course of more than two miles in length on the 
site of the now dormant North Carolina Finishing Mill.

Preliminary plans for the proposed course, named High Rock International 
Raceway due to its location adjacent to High Rock Lake, call for 
sweeping elevation changes, two high-speed straightaways, and dramatic 
carousel, corkscrew and ess turns. The forty-five-foot wide track will 
be designed by world-renowned planner Alan Wilson of Wilson Motorsports 
and will provide a venue for sports car and motorcycle club racing as 
well as nationally sanctioned professional road-race events. The 
development team will also include civil engineer Daryl Wagner from 
Salisbury Engineering & Planning and Leo Dunn from Salisbury-based 
Carrol Fisher Construction, who will serve as project architect and 
contractor. Providing marketing consulting services for the track is 
Ellen McGuire of Charlotte-based Meridian Marketing & Media, Inc.

"This will be one of the most exciting road courses in the world. We are 
extremely fortunate to be working with Alan Wilson and to have acreage 
that offers exceptional topography on which to construct a world-class 
road racing course," said Risdon.

The proposed road course will be the hub of an innovative motorsports 
community including a race team performance center, privately-owned 
racing chalets, guest cottages that overlook the Yadkin River and a 
spacious RV campground. In addition, the track will offer memberships to 
High Rock Country Club. Membership privileges will include use of the 
track on select weekdays and evenings, access to all track events and 
exclusive access to a club lodge.

Risdon, who acquired the mill property in October 2001, has already 
begun demolition of the 400,000-square-foot mill building. Construction 
on the multi-million-dollar track project is expected to start in the 
fall of 2005 and be completed by the summer of 2006.

High Rock International Raceway, located in Rowan County, NC, is 
positioned to become one of the world's premier road racing venues. The 
200-plus-acre development will cater to racing enthusiasts with features 
such as a race team performance center, privately-owned chalets and 
country club amenities. High Rock International Raceway hopes to attract 
race series of all kinds -- from sports car and motorcycle club races to 
nationally sanctioned professional road-race events.