The Year 2000 problem(2) will impact Homestead-Miami Speedway, LLC and its business partners.

Information Technology Systems

An assessment of the Year 2000 readiness related to information technology systems has been made and the plans to resolve the related issues are being implemented. Most major information technology systems have already been updated or replaced with applications that are Year 2000 ready in the normal course of business.

Non-Information Technology Systems

Homestead-Miami Speedway, LLC suspects that some of its non-information technology systems, such as elevators, heating and air-conditioning systems, etc., with date sensitive software and embedded microprocessors may be affected, and evaluation is underway. An estimate of the costs of correcting or replacing critical non-information technology systems is incomplete.

Business Partners

Homestead-Miami Speedway, LLC has developed a plan of communication with significant business partners to identify and minimize disruptions to Homestead-Miami Speedway, LLC’s operations resulting from the Year 2000 issue. There can be no certainty that the computer programs and business systems of third parties on which Homestead-Miami Speedway, LLC relies will not have an adverse effect on Homestead-Miami Speedway, LLC’s operations. However, because of the nature of its business, Homestead-Miami Speedway, LLC believes at this time that a failure of Homestead-Miami Speedway, LLC’s vendors, sponsors or customers to resolve issues involving the Year 2000 problem will not be material.

Readiness Timetable

Homestead-Miami Speedway, LLC anticipates completing substantially all of its Year 2000 preparation during fiscal 1999. In the event Homestead-Miami Speedway, LLC falls behind on its timetable for achieving Year 2000 readiness, additional internal resources will be focused on completing critical projects and developing contingency plans. Homestead-Miami Speedway, LLC at this time believes that it will satisfactorily resolve all significant Year 2000 problems and that the related costs will not be material. Homestead-Miami Speedway, LLC’s current estimates of Year 2000 related readiness costs are based on numerous assumptions, including the continued availability of certain resources, the ability to correct all relevant information and non- information technology systems and third party modification plans. There is no guarantee that the estimates will be achieved and actual costs could differ materially from those anticipated.

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1. Statement pursuant to The Year 2000 Information and Readiness Disclosure Act (Public Law 105-271).

2. The Year 2000 problem is the result of computer programs and other business systems being written using two digits rather than four to represent the year. Many of the time sensitive applications and business systems of Homestead-Miami Speedway, LLC and its business partners may recognize a date using 00" as the year 1900 rather than the year 2000, which could result in system failure or disruption of operations.

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