SPRI Sports Resorts International (MM)

Majority Stockholder of Sports Resorts International, Inc. Offers to Buy Out Subsidiaries and Outstanding Shares OWOSSO, Mich., April 20 /PRNewswire-FirstCall/ -- Donald J. Williamson, majority shareholder of Sports Resorts International, Inc., has offered to buy SPRI subsidiaries The Colonel's Inc., and Rugged Liner, Inc., both Michigan corporations, and Brainerd International Raceway and Resort, Inc., a Minnesota corporation, by transferring 40 million shares of SPRI stock to the SPRI treasury. Upon receipt of Board approval of the offer, shareholders of SPRI stock will be afforded the following options: Shares held may be redeemed for $4.25 per share; or shares may be retained by the shareholder whereupon shareholders of record on October 1, 2004, will receive two additional shares of SPRI stock for each share held. Redemption of shares will only be made available to those able to produce valid stock certificates. Option holders will be able to redeem eligible shares held for $4.25 per share. Option holders will not be eligible for any dividends that may be declared and the treasury will issue no new stock certificates until the transaction is complete. SPRI will retain all assets associated with the planned Sports Complex (property) located at I-75 and Mt. Morris Roads, Mt. Morris Township, Michigan. The property consists of approximately 330 acres, owned or under option, on which will be built a one-half mile dirt track accommodating a wide variety of automobile and motorcycle racing events, horse racing, an 11,000 seat domed coliseum hosting basketball, hockey, arena football, concerts, boxing and wrestling. SPRI will form professional hockey, basketball and arena football leagues to fully support these sporting events. Each of these leagues will be comprised of 16 teams. The property will also host an upscale hotel, an affordable, themed restaurant, a super automobile service center and a wide variety of specialty retail shops. The domed coliseum will be unique in that no seat will be more than 50 feet from the edge of the arena playing area. This offer was received by the SPRI office on April 19, 2004 at 9:30 A.M. SPRI, through its subsidiaries, manufactures and sells bedliners and other truck accessories in the aftermarket, and owns and operates a multi-purpose motor sports facility located near Brainerd, Minn. Its Web site is http://www.sportsresortsinternational.com/. DATASOURCE: Sports Resorts International, Inc. CONTACT: Donald J. Williamson, +1-810-577-8473, for Sports Resorts International, Inc. Web site: http://www.sportsresortsinternational.com/

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