EXHIBIT 14.1

                 INTERACTIVE MOTORSPORTS AND ENTERTAINMENT CORP.

                       CODE OF BUSINESS CONDUCT AND ETHICS

The following code shall apply to Interactive Motorsports and Entertainment
Corp., an Indiana Corporation, and shall be followed by its employees, officers
and directors:

CONFLICTS OF INTEREST.

            The company prohibits conflicts of interest. Any conflict of
interest that occurs should be reported directly to the Company's CEO. A
"conflict of interest" occurs when an individual's private interest interferes
in anyway - or even appears to interfere - with the interests of the Company as
a whole. A conflict situation can arise when an employee, officer or director
takes actions or has interests that may make it difficult to perform his or her
Company work objectively and effectively. Conflicts of interest also arise when
an employee, officer or director, or a member of his or her family, receives
improper personal benefits as a result of his or her position in the Company.
Loans to, or guarantees of obligations of, such persons are of special concern.

CORPORATE OPPORTUNITIES.

            Employees, officers and directors are prohibited from (a) taking for
themselves personally opportunities that are discovered through the use of
Company property, information or position; (b) using Company property,
information, or position for personal gain; and (c) competing with the Company.
Employees, officers and directors owe a duty to the Company to advance its
legitimate interests when the opportunity to do so arises.

CONFIDENTIALITY.

            Employees, officers and directors must maintain the confidentiality
of information entrusted to them by the Company or its customers, except when
disclosure is authorized or legally mandated. Confidential information includes
all non-public information that might be of use to competitors or might be
harmful to the company or its customers, if disclosed.

FAIR DEALING.

            Each employee, officer and director shall endeavor to deal fairly
with the Company's customers, suppliers, competitors and employees.

PROTECTION AND PROPER USE OF COMPANY ASSETS.

            All employees, officers and directors should protect the Company's
assets and ensure their efficient use. Theft, carelessness and waste have a
direct, negative impact on the Company's profitability. All Company assets
should be used for legitimate business purposes.

COMPLIANCE WITH LAWS, RULES AND REGULATIONS (INCLUDING INSIDER TRADING LAWS).

            Each employee, officer and director must comply with laws, rules and
regulations, including insider trading laws. Insider trading is both unethical
and illegal, and will be dealt with decisively.
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REPORTING ANY ILLEGAL OR UNETHICAL BEHAVIOR.

            The Company encourages ethical behavior. The Company encourages
employees to talk to supervisors, managers or other appropriate personnel when
in doubt about the best course of action in a particular situation.
Additionally, employees should report violations of laws, rules, regulations or
this Code of Business Conduct and Ethics to appropriate personnel. No
retaliation for such reports made in good faith will be permitted.