Kentucky Derby $5 Million Pay Day Prize Goes Unclaimed

LOUISVILLE, Ky. (May 4, 2003) - While the 3-year-old gelding Funny Cide claimed the roses in the 129th running of the Kentucky Derby at historic Churchill Downs, no one claimed the $5 million prize for picking the exact order of finish in this year's "Run for the Roses" as part of the first-ever international promotion connected to the Derby.

The Kentucky Derby $5 Million Pay Day, a free Internet-based contest of skill offered exclusively through www.kentuckyderby.com, challenged players to pick the exact order of finish for the 2003 Derby, which had 16 starters. Of the 172,246 individuals who registered to play the online game, no one was able to correctly select the entire running line for the race.

The contest generated considerable interest, as tens of thousands signed up to play in the final hours that entries were accepted. Additionally, traffic to the Churchill Downs network of Web sites on Derby Day (May 3) increased by 57 percent over the day before (Oaks Day, May 2) with more than 1.24 million unique visitors viewing the sites. There were more than 827,000 unique visitors to www.kentuckyderby.com, the official Web site of the Kentucky Derby, on May 3 alone.

"We're extremely pleased with the fan response and level of interest in the Kentucky Derby $5 Million Pay Day," said Karl F. Schmitt Jr., president of the Churchill Downs Simulcast Network ("CDSN"), which developed and administered the online contest. "While we're disappointed that no one claimed the $5 million prize, we're very excited about the 'buzz' generated by the contest and by the number of individuals who signed up to play. Those who visited our network of Web sites had the opportunity to learn more about America's premier horse race, the Kentucky Derby, as well as the quality racing offered at all Churchill Downs Incorporated (Nasdaq: CHDN) racetracks through CDSN.

"Our stated goal for this first-ever international promotion was to introduce new fans to the sport of horseracing and extend and enhance the Kentucky Derby brand," Schmitt continued. "By all measures, the contest was a success in that regard, and even though we didn't have a winner, the additional exposure has helped us identify new customers with an expressed interest in horseracing. We look forward to reaching out to them in the future as we promote the Derby and its sister race, the Kentucky Oaks, as well as CDSN racing and our sport in general."

The Kentucky Derby $5 Million Pay Day contest was open to residents of the United States and Canada (except Quebec), as well as England, Wales, Scotland and Northern Ireland.

Kentuckyderby.com is the official Web site of the Kentucky Derby and is owned and operated by Churchill Downs Incorporated. As one of the world's premier sporting events and the first leg of horse racing's Visa Triple Crown Challenge, the Kentucky Derby traditionally takes place on the first Saturday in May. The 129th running of this celebrated event is scheduled for May 3, 2003, at Churchill Downs in Louisville, Ky. Approximately 150,000 people attend the Derby in person, with more than 20 million people tuning in via television and radio worldwide.

Churchill Downs Incorporated ("CDI"), headquartered in Louisville, Ky., owns and operates world-renowned horseracing venues throughout the United States. The Company's racetracks in California, Florida, Illinois, Indiana and Kentucky host 115 graded-stakes events and many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders' Cup World Thoroughbred Championships - more than any other North American racing company. CDI also owns off-track betting facilities and has interests in various television production, telecommunications and racing services companies that support CDI's network of simulcasting and racing operations. CDI trades on the Nasdaq National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.

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