OTHER NEWS - Jan. 30, 1996

Motor Speedway Firm Files for IPO: Penske Motorsports Inc., a motor speedway company headed by Roger Penske, made the filing with the Securities and Exchange Commission to sell 3.25 million common shares in the initial public offering. The Detroit company will use some of the $51 million in proceeds, assuming a $17-a-share price, to finish building a “super speedway” in San Bernardino County near Fontana. Some of the funds will also go toward repaying debt, according to the filing. Penske, who also heads the privately held Penske Corp., holds 84% of the motor speedway company’s outstanding shares along with the Penske affiliate PSH Corp. He plans to cut his holdings to a 60% stake.