Press Release: Sports Resorts International
October 4, 2001
FLINT, MI -- Sports Resorts International, Inc. (the ``Company'') (Nasdaq: SPRI) signed a contract Oct. 1 with
Carlson Construction for the expansion of the Company's racetrack property in Brainerd, Minnesota. The Company
is adding a restaurant, gas station, and convenience store in addition to the recently completed 18 trackside condominiums.
The Company anticipates that this expansion will be completed within the next five months.
The Company also announced that the State of Michigan's Department of Transportation (MDOT) recently approved the
widening of Federal Highway I-75 at the Mount Morris Road intersection, which crosses right in front of the Company's
planned sports and entertainment complex outside Flint, Michigan. The Company has received preliminary zoning and
planning approval for its 330- acre entertainment complex, which includes a racetrack, 32,000-seat coliseum, 11,000-seat
domed stadium, 100-room hotel, restaurant, shopping and gas station facilities, which has one mile of frontage
on I-75.
The Company is awaiting the results of its Traffic Impact Study for the coliseum site, which is expected within
the next 30 days. Site Plan approval is expected within two weeks after the traffic study is submitted. The Company
currently projects that construction of the complex may be completed in three years, with many of the facilities
coming on line within the next 22 to 24 months.
Forward-looking Statements
Certain statements included in this press release are ``forward-looking'' statements, such as those relating to
anticipated future revenue of the Company or the anticipated success of current product offerings. Such forward-looking
statements involved important risks and uncertainties that could significantly affect anticipated results in the
future. The Company's performance and financial results could differ materially from those reflected in the forward-looking
statements due to financial, economic regulatory and political conditions or additional factors unknown to the
Company at this time. Therefore, current or prospective inventors are cautioned not to place undue reliance on
any such forward-looking statements. The Company does not undertake any obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future events or other wise.
For further information contact Investor Relations or Mr. Donald J. Williamson, President and CEO, (Phone: 810-732-7400).
SOURCE: Sports Resorts International