IMTS Subsidiary Partners With Elan Motorsports To Produce Next Generation Simulators.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Dec. 18, 2003 Race Car Simulators(TM), a wholly-owned subsidiary of Interactive Motorsports and Entertainment Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: IMTS), has partnered with one of the premier race car manufacturers in the world, Elan Motorsports Technologies (EMT See Efficient markets theory. ), to produce and assemble the company's patented next generation auto racing simulators. The next generation simulators include new state-of-the-art design upgrades featuring the latest image generators and projectors, upgraded video cards and a software upgrade to the Linux operating system. In addition, the upgrades will streamline operations with fewer computers required for each simulator, resulting in cost reductions for the company. "These improvements will bring the Company's already market-leading technology to a new level of simulated racing excitement," stated William R. Donaldson, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IMTS. "With the excitement and results generated by our recent exhibit at the International Association of Amusement Parks and Attractions International Association of Amusement Parks and Attractions (IAAPA) [www.IAAPA.org] Founded in 1918, IAAPA is the largest international trade association for permanently situated amusement facilities worldwide. (IAAPA IAAPA International Association of Amusement Parks and Attractions ) convention in Orlando, we feel very confident that we will keep Elan busy for the foreseeable future," added Donaldson. EMT, located in Braselton, GA, is a multi-faceted engineering and manufacturing company that, among other endeavors, designs and builds race cars. EMT subsidiary, Panoz G-Force, designed and built the winning chassis for the 2003 Indianapolis 500 and 2003 Indy Racing League The Indy Racing League, better known as IRL, is the sanctioning body of a predominantly American based open-wheel racing series. The League consists of two series, the premiere IndyCar Series , and other EMT subsidiaries are currently building the next-generation car for the Star Mazda Series The Star Mazda Series is a group of open-wheel road races conducted by Formula Mazda. Their stated goal is "to develop new race driving talent". Star Mazda races are often held in conjunction with larger, more famous races, For 2007, the races will be mostly held and the new STRANA Super Truck. For more information on IMTS, please visit our website at www.SMSonline.com 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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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