Wagering On Mezzo Soprano Is Suspended In Inaugural Kentucky Oaks Future Wager

LOUISVILLE, Ky. (April 3, 2003) - Wagering on Godolphin's Mezzo Soprano in Churchill Downs' first Kentucky Oaks Future Wager ("KOFW") was suspended shortly before the opening of the four-day pool after a Godolphin representative confirmed that the unbeaten filly was being pointed toward Britain's One Thousand Guineas (Group One) and was unlikely to compete in the Kentucky Oaks (Grade I).

The Godolphin representative told a Churchill Downs official that racing manager Simon Crisford confirmed that it was "very, very unlikely" that the unbeaten daughter of Darshaan would show up at Churchill Downs and that she was expected to run at England's Newmarket in the One Thousand Guineas. Since Churchill Downs received that confirmation before the KOFW pool opened at noon (all times Eastern) on Thursday, April 3, track officials decided to suspend wagering on Mezzo Soprano, who is listed as #13 on the list of betting interests in the pool. For wagering purposes, she will now be considered a member of the mutuel field, which consists of all 3-year-old fillies other than the 22 fillies listed among the KOFW's individual betting interests.

Mezzo Soprano had been listed at odds of 30-1 in the Kentucky Oaks Future Wager morning line established by Churchill Downs handicapper Mike Battaglia.

The inaugural Kentucky Oaks Future Wager will operate under the same rules as the Kentucky Derby Future Wager. It allows racing fans to place wagers on contenders for the May 2 Kentucky Oaks weeks in advance of the race at odds that may be more attractive than those they would receive on Oaks Day. The Kentucky Derby Oaks Wager is a $2 minimum wager and is a win bet only. There are now 23 wagering interests in the first KOFW pool, which includes 22 individual horses and a mutuel field that contains all other 3-year-old Thoroughbred fillies - regardless of whether those fillies have been nominated to the Kentucky Oaks. As in its companion wager on the Kentucky Derby, there are no refunds in the Kentucky Oaks Future Wager.

"Since there would seem to be the slimmest of chances that Godolphin could change its mind on the Kentucky Oaks status of Mezzo Soprano, we felt that it would be in the best interests of our Oaks fans that we suspend wagering on the filly in this inaugural Kentucky Oaks Future Wager pool," said Steve Sexton, president of Churchill Downs. "We appreciate Godolphin's efforts to provide us with accurate information on their filly and their intentions for her. This is a future wager and such a wager has inherent risks, but Churchill Downs wants to do everything it can to ensure that our Oaks fans have the best chance at winning, so we believe this decision is the right thing to do."

Wagering on the inaugural KOFW pool will open at racetracks and satellite wagering outlets in 34 states at noon (all times Eastern) on Thursday, April 3 and will run concurrently with the Kentucky Derby Future Wager that opens at the same time. The four-day Kentucky Oaks Future Wager pool will close on Sunday, April 6 at 5:30 p.m. - one hour prior to the close of the Kentucky Derby Future Wager The winning payouts for the Kentucky Oaks Future Wager Pool will be determined by the odds that are in place at the pool's close.

The 129th Kentucky Oaks, a 1 1/8-mile race that has been dubbed the "Kentucky Derby for Fillies" through the years, will be run on Friday, May 2 at Churchill Downs.

More information on the Kentucky Oaks and Kentucky Derby and their respective future wagers may be obtained on the World Wide Web at www.kentuckyderby.com. Real time odds on the Kentucky Oaks Future Wager and Pool 3 of the Kentucky Derby Future Wager will be available on the Kentucky Derby Website.

Churchill Downs, the world's most legendary racetrack, has conducted Thoroughbred racing and presented America's greatest race, the Kentucky Derby, continuously since 1875. Located in Louisville, the flagship racetrack of Churchill Downs Incorporated (Nasdaq: CHDN) also operates Trackside Louisville, an off-track betting and training facility. Churchill Downs will conduct the 129th running of the Kentucky Derby on May 3, 2003. The track's 2003 Spring Meet will be held April 26 through July 6. Churchill Downs has served as host to the Breeders' Cup World Thoroughbred Championships a record five times.

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