“NASCAR Plaza” will consist of 19 stories and 390,000 square feet of rentable space

CHARLOTTE, N.C. (Dec. 12, 2006) – The National Association for Stock Car Auto Racing (NASCAR) announced today that it has exercised its option to partner with a developer to build an office tower as part of the Hall of Fame project. Construction is set to begin early next year in Charlotte, N.C.

Lauth Property Group, LLC, one of the nation’s leading privately held real estate development and construction companies, will be the project’s developer. Lauth, which is headquartered in Indianapolis, has extensive developer experience that includes office projects for companies such as Allstate, HSBC Mortgage Services and SI International.

NASCAR Plaza, in which NASCAR will be an anchor tenant, will consist of 19 stories and approximately 390,000 square feet of rentable space.

“This is an exciting day for NASCAR and the NASCAR Hall of Fame complex,” said Mark Dyer, NASCAR’s vice president of licensing and consumer products. “NASCAR Plaza not only adds to the allure of uptown Charlotte, but it significantly benefits the soon-to-be-erected Hall of Fame complex.”

Lauth is responsible for the cost of construction and development of NASCAR Plaza on the development site, a five-acre parcel of land owned by the City of Charlotte. The site, which will also be home to the NASCAR Hall of Fame, is located on the corner of Caldwell Street and Stonewall Street.

“We are honored to have been chosen by NASCAR and excited to add another high-quality office building to Charlotte’s dynamic uptown skyline,” said Flint McNaughton, Lauth’s southeast regional partner. “The project will benefit from being associated with NASCAR and the motorsports industry as a whole and will bring new companies to the City’s urban core.”

The NASCAR Hall of Fame, which is expected to open in the spring of 2010, will be a special place that brings NASCAR’s history to life and preserves that history in the appropriate environments. The new facility, which is currently undergoing design work with ground breaking ceremonies planned for the first quarter of 2007, will allow longtime fans to have the opportunity to relive NASCAR’s greatest moments and for new fans to learn about them. The Hall of Fame building will be owned by the City of Charlotte and operated by the Charlotte Regional Visitors Authority. Upon final approval, NASCAR Plaza is scheduled to break ground in late February of 2007 with completion targeted for March of 2009, a year ahead of the scheduled opening of the NASCAR Hall of Fame.

“NASCAR Plaza, a 19-story, 390,000 square foot office tower, will be a desired location for companies all across the region,” said Ed Bennett, NASCAR’s vice president of corporate administration. “NASCAR Plaza will be a one-of-a-kind office tower and we are excited to be moving forward under Lauth’s expertise and experience.”

“The NASCAR Hall of Fame and adjacent office tower will enhance the dynamic and growing sport of NASCAR racing in our vibrant city,” Charlotte Mayor Pat McCrory said. “We are excited that NASCAR has chosen to locate two of its primary divisions (NASCAR Licensing and NASCAR Images) in our City. It’s a victory not only for fans and the entire region, but also for our local economy as we protect and grow the industry’s presence in our city.”