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Daytona 500 Purse Grows to $6,000,000

20 November 1997

DAYTONA BEACH, FL - NASCAR, in celebration of their upcoming 50 year
anniversary, has announced two major changes for the 1998 season - changes
that will benefit both the fans and the drivers of NASCAR's premier touring
series.

The first will see the purse for the Daytona 500 swell to the $ 6,000,000 mark
making it the richest race in the history of NASCAR racing. Last year's 500
winner, Jeff Gordon said, "If the Daytona 500 didn't pay prize money it would
still be the race that every driver wanted to win. But with $6 million on the
line, it will give all of us more incentive to race hard and put on a great
show for the millions of people that watch the Daytona 500 each year."

The $6 million dollar purse marks a 37% increase over 1997 payouts.

The second announcement from Daytona Beach has the CBS network televising the
Pepsi 400 live - under the lights - from Daytona International Speedway on
July 4th 1998. The race, that will be the first run under the lights from
Daytona International Speedway, will be the first race televised prime time
live for a TV network.

"This is a breakthrough event in the history of NASCAR and the Daytona
International Speedway," said Sean McManus, president of CBS sports. "As the
leading broadcaster of NASCAR, we are excited to be able to showcase this
watershed event. The addition of a live prime time race promises the largest
possible platform for NASCAR as this sport continues to be one of the fastest
growing television sports."

CBS will carry approximately 40 hours of NASCAR  racing spanning 15 NASCAR
events. 1998 coverage will start with the Bud Shootout the week preceding the
39th running of the Daytona 500. Other events CBS will feature are the NAPA
Auto Parts 300 and the Gatorade twin 125's from Daytona International
Speedway. 

Mike Snow -- The Auto Channel