AMRA American Racing Capital Inc (CE)

American Racing Capital, Inc. (OTCBB:AMRA) and Joe Mattioli III, senior managing partner of AMRA subsidiary, Motorsports & Entertainment of Tennessee, operators of the Music City Motorplex have announced the proposed running of a ChampCar race in downtown Nashville. A race course has already been designed that would utilize LP Field�s parking lots and surrounding streets. LP Field is home to the Tennessee Titans and the property is under the control of the Nashville Sports Authority. The temporary street circuit would have to be approved soon by the Sports Authority and Metro Government to become a reality for the 2009 racing season and beyond. Besides their NFL games, LP Field is used to hosting other big events such as the CMA Music Festival, and the Country Music Marathon. Music City Motorplex President Joe Mattioli, who is helping to spearhead the project, said such an undertaking is a commitment of time and resources familiar to him. His company has provided event management for similar events at Pocono International Raceway and the Grand Prix of Washington D.C. held on the streets and parking lots of RFK Stadium. Mattioli conceded that construction for such a racing event on the streets of Nashville is not insurmountable and that other cities hosting racing events have successfully worked around such distractions. "Consider this, in Las Vegas where they had an event last year on the city streets, were able to do what was needed and kept venues open," Mattioli said. "The major interference is the three days of the event." Bob Koveleski, President of American Racing Capital, said, "Having Nashville host a ChampCar event on a yearly basis could add another feather to the city�s cap. ChampCar races are world-class events which bring people in from all over the globe. Both in-house and independent studies show these people spend lots of money in hotels, restaurants and tourist attractions. It is the equivalent of a SuperBowl and therefore an incredible boost to the local economy." One of the more familiar street races, the Long Beach Grand Prix which is celebrating its 34th year (http://www.gplb.com), is a tremendous catalyst for the local economy, generating more than $30 million in direct economic impact and $150 million more in indirect economic impact. The ChampCar series race in the USA, Canada and Europe. About American Racing Capital, Inc. American Racing Capital, Inc. is a company specializing in motorsports and its strategy is to focus on several aspects of this industry. Through its subsidiaries, American Racing Capital, Inc. intends to: Acquire financial interests at several well established auto racing facilities, Establish race management contracts at existing facilities and newly proposed facilities, Engage in the re-design, and development of our wholly owned race tracks, Find and acquire companies to compliment our other holdings. The Company�s business also includes sponsorship activation services, which are highly specialized promotional services in this industry. American Racing Capital, Inc. helps companies develop and build brand reputation using motorsports as revenue-generating opportunities. For more information visit - http://www.americanracingcapital.com This press release contains "forward-looking" statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in American Racing Capital, Inc.�s reports that will be on file with the US Securities and Exchange Commission.