Churchill Downs Incorporated Launches Official 2003 Kentucky Derby Web Site

LOUISVILLE, Ky. (Jan. 14, 2003) - Churchill Downs Incorporated ("CDI") (Nasdaq: CHDN) this week launched the official 2003 Kentucky Derby Web site, www.kentuckyderby.com. The redesigned site offers a wide assortment of engaging articles, interactive features and news updates that allow visitors to enjoy complete coverage of the Kentucky Derby, one of the world's most prestigious horse races, and its sister race, the Kentucky Oaks.

Kentuckyderby.com showcases five major sections designed for racing fans of every age and sophistication. Categories include Derby Coverage, featuring snapshots of event contenders and daily updates on the latest news; Derby History, with complete charts, timelines and statistics on all 128 runnings; Derby Experience, giving fans a taste of the first Saturday in May via an extensive photo gallery and live Webcams; Kentucky Oaks, an information archive of history and news focused on the Derby's sister race; and Derby Store, offering Kentucky Derby 129 apparel and souvenirs for purchase online.

It's never too early to pick a Derby 129 favorite, and Kentuckyderby.com offers a plethora of information to keep handicappers on top of their game. Besides providing frequent updates on contenders and connections for the Oaks and Derby, the site also features "Top 20" selections from the team of Churchill Downs Simulcast Network ("CDSN") handicappers, including John Asher and Steve Fugitte. Other features include a section devoted to the popular Kentucky Derby Future Wager and the chance to register for one of several online Kentucky Derby fantasy games.

"Kentuckyderby.com offers a wide variety of information and statistics on the Kentucky Derby and Oaks and is comprehensive enough to engage any racing fan or handicapper," said Fugitte, vice president of racing information and new media for CDSN. "The site is user-friendly and has something for everyone, including interactive polls and feature articles. New design elements and artwork have been added this year to enhance the site and make it a wonderful online reflection of the first Saturday in May."

Other new features for 2003 include an interactive Kentucky Derby Timeline, guiding visitors through 128 years of Derby facts and milestones, and a comprehensive Kentucky Oaks section with a detailed history of the race and in-depth handicapping information for each prospective entrant.

Kentuckyderby.com offers visitors a unique glimpse into the excitement and elegance that is the first Saturday in May. Besides its wealth of statistics and information, the Web site takes an educational look at some of the Derby's most celebrated traditions. The Derby Experience section guides visitors into a colorful journey through Kentucky Derby lore, from the mint julep and Twin Spires to the famed Derby hats and infield revelry.

One of the Web site's most popular features is a network of live Webcams. Cameras throughout the facility will offer visitors a peek into the heart of Oaks and Derby Days, from the paddock crowds to the opulence of Millionaires' Row. Celebrities will offer their top picks via streaming video in the Who Do You Like? section, while a rich photo gallery of images from around the track will help to complete the experience.

The site is also the online home of The Derby Store and makes available for purchase a variety of officially licensed Kentucky Derby 129 items, including apparel, hats, party goods, Oaks and Derby artwork and other merchandise.

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 horse racing 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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